AMP Bank raised rates for its interest-only home loan offerings.

AMP Bank announced some changes to the interest rates of its home loan offerings.

Mortgage Business reported that AMP raised rates up to 40 basis points.

With this, a loan amounting from $250,000 to $499,999 will bear an interest rate of 4.88%. On the other hand, borrowings amounting to at least $750,000 will have an interest rate of 4.74%.

Meanwhile, AMP has trimmed third-year fixed rate on its owner-occupied home loans.

For its Professional Affinity, and Select packages, the interest rate has decreased to 3.79%.