AMP Bank - Basic Package Home Loan
Variable | Owner Occupied | Principal & Interest | LVR up to 60% | Borrowing more than $40,000 | With package
The AMP Bank Basic Package Home Loan offers an advertised interest rate of 7.24% p.a. and a comparison interest rate of 7.29% p.a.. The AMP Bank Basic Package Home Loan is suitable for Owner Occupiers with Variable terms.
More AMP Bank Basic Package Home Loan details can be found below or visit AMP Bank to learn more or apply.
A Variable rate loan for Owner Occupiers repaying the Principal & Interest with an advertised interest rate of 7.24% p.a. and a comparison interest rate of 7.29% p.a.
Advertised Rate
7.24% p.a. Variable
Comparison Rate
7.29% p.a. Variable
Loan To Value
60%
Package Annual Fee
$0 per year
Interest
Rate Type
Variable
Advertised Rate
7.24% p.a.
Variable
Comparison Rate
7.29% p.a.
Variable
Calculation Frequency
Daily
Application Frequency
Monthly
Terms
Suitability
Owner Occupiers
Borrowing
$40,000
Term
1 to 30
years
Loan To Value
60%
Repayment
Type
Principal & Interest
Frequency
Monthly, Weekly, Fortnightly
Extra Repayments
Yes
Fees
Settlement Fee
$349
per event
Ongoing Fee
$0
per month
Features
Redraw
Yes
Loan Offset
Yes
Loan Split
Yes
Who is the product designed for?
The objectives, needs and financial situation of customers in the target market are:
Objectives and needs
A person who may seek a variable rate credit facility (with an optional offset facility) or fixed rate credit facility (with no offset facility) to:
- purchase a residential property,
- renovate or improve a residential property, or
- refinance an existing home loan facility, or
- purchase other property or investments, or
- build a new residential dwelling on vacant land(also purchased with the loan funds), rebuild an existing residential dwelling or make structural improvements to an existing dwelling, within the first 12 months of the loan
- wants a variable interest rate, and has flexibility to make additional repayments and/or repay the facility early (variable rate credit facility), or
Financial situation
- A person who will have funds to make payment of fees, interest and repayments as
and when such amounts become due and payable and, if the person requests and is
issued an offset facility, will have sufficient funds to benefit from the offset facility.
Visit AMP Bank to view Target Market Determination Effective From: 2023-10-31.
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