Today's mortgage & refinance rates: CommBank, NAB, & ANZ slash home loan rates
Refinancers and homebuyers are in for a treat this week, with three of the big four banks ...
30 May, 2025
Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.35% p.a. | 6.56% p.a. | $2,792 | Principal & Interest | Fixed | $0 | $295 | 80% | |||||||||||||
5.39% p.a. | 6.45% p.a. | $2,805 | Principal & Interest | Fixed | $0 | $295 | 80% | |||||||||||||
5.45% p.a. | 6.58% p.a. | $2,823 | Principal & Interest | Fixed | $0 | $295 | 80% | |||||||||||||
5.45% p.a. | 6.70% p.a. | $2,823 | Principal & Interest | Fixed | $0 | $295 | 80% | |||||||||||||
5.50% p.a. | 6.48% p.a. | $2,839 | Principal & Interest | Fixed | $0 | $295 | 80% | |||||||||||||
5.55% p.a. | 6.71% p.a. | $2,855 | Principal & Interest | Fixed | $0 | $295 | 80% | |||||||||||||
5.55% p.a. | 6.66% p.a. | $2,855 | Principal & Interest | Fixed | $0 | $295 | 90% | |||||||||||||
5.59% p.a. | 6.57% p.a. | $2,867 | Principal & Interest | Fixed | $0 | $295 | 90% |
Founded in 1849, AMP has a long history of providing Australians with financial products and services. AMP Bank was formed much later in 1998 and now operates as a fully digital bank offering a range of personal and business banking products including everyday accounts, savings accounts, and home loans.
Its two main home loan products are its Essential home loan (which comes with no offset facility and no package fees) and its Offset home loan (which offers more flexibility for an annual package fee).
The Offset home loan allows up to 10 offset accounts, fixed or variable rates, principal and interest or interest only repayments, and options for a line of credit attached to the loan.
With AMP having one of the largest financial networks in Australia, many of the bank's home loan customers come through the organisation's financial planning and mortgage broker partners.
That said, AMP Bank offers competitive interest rates and lending in niche areas not serviced by the major banks.
You may find AMP Bank a good fit for you if:
You are comfortable with digital banking
AMP Bank offers all its banking services online, including through its AMP Bank GO mobile app, but provides access to real people if needed.
You are after a competitive interest rate
AMP Bank typically offers competitive interest rates and lower rates for larger loan amounts on some of its home loan products.
Have a deposit of 10% or more
AMP Bank does not generally approve loans where the loan-to-value ratio (LVR) is more than 90%, including the cost of lenders mortgage insurance (LMI).
Are looking for flexible loan assessment
AMP Bank has a reputation for assessing home loan eligibility on a case-by-case basis. It's also known for factoring shift and car allowances into income assessments if they're regularly received and recognising overtime for essential service workers.
Are concerned an LMI provider may reject your home loan
AMP Bank has an agreement with LMI insurer Genworth that can allow the bank to approve a home loan application on behalf of the insurer. This may increase the chances a loan will be approved and can speed up the loan approval process.
Want to make interest only repayments for as long as possible
AMP Bank is the first Australian bank to offer a 10-year interest-only home loan to eligible borrowers which may suit investors, owner-occupiers looking to better manage cashflow, retirees, or pre-retirees.
Not sure which type of loan is best for your needs?
Your Mortgage can help you find out.