AMP Essential Home Loan
A variable home loan with no offset facility and no package fees.
Category: Home Loans Last Updated November 24, 2025 Effective November 25, 2025
General Lending Rates
Rates listed below are for a VARIABLE Owner Occupied P&I product. Additional Information New business rates, fees and charges apply
Interest Rate
5.43% PA
5.43% PA
Comparison Rate
5.46%PA*
5.46%PA*
Product rates will vary depending upon your financial position< LVR, and other criteria. The product may also vary depending upon the rate type, repayment type, or loan purpose. We encourage you to contact us for a full understanding of the product and terms.
Product Variations
Product rates and conditions will vary based on the LVR and other conditions..
essential_oo_tier2
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.54%, Comparison Rate 5.57%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
LVR greater than 80% and less than or equal to 90% + LMI
Minimum: 80 PERCENT Maximum: 90 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.54%, Comparison Rate 5.57%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
essential_oo_tier2
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
LVR greater than 60% and less than or equal to 80% inc LMI
Minimum: 60 PERCENT Maximum: 80 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
essential_inv_tier3
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.79%, Comparison Rate 5.82%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
Under 50% LVR inc LMI
- Lending Rate Type: Variable
- Interest Rate: 5.79%, Comparison Rate 5.82%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_oo_tier2
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
Under 50% LVR inc LMI
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
LVR greater than 50% and less than or equal to 60% inc LMI
Minimum: 50 PERCENT Maximum: 60 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
essential_oo_tier2
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
Under 50% LVR inc LMI
- Lending Rate Type: Variable
- Interest Rate: 5.43%, Comparison Rate 5.46%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
essential_inv_tier4
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
LVR greater than 80% and less than or equal to 90% + LMI
Minimum: 80 PERCENT Maximum: 90 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_inv_tier4
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
LVR greater than 60% and less than or equal to 80% inc LMI
Minimum: 60 PERCENT Maximum: 80 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_inv_tier4
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
LVR greater than 50% and less than or equal to 60% inc LMI
Minimum: 50 PERCENT Maximum: 60 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_inv_tier4
Minimum: $750000.00 Maximum: $99999999.00
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
Under 50% LVR inc LMI
- Lending Rate Type: Variable
- Interest Rate: 5.64%, Comparison Rate 5.67%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_inv_tier3
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.79%, Comparison Rate 5.82%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
LVR greater than 50% and less than or equal to 60% inc LMI
Minimum: 50 PERCENT Maximum: 60 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.79%, Comparison Rate 5.82%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_inv_tier3
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.89%, Comparison Rate 5.92%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
LVR greater than 60% and less than or equal to 80% inc LMI
Minimum: 60 PERCENT Maximum: 80 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.89%, Comparison Rate 5.92%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_inv_tier3
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.89%, Comparison Rate 5.92%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
LVR greater than 80% and less than or equal to 90% + LMI
Minimum: 80 PERCENT Maximum: 90 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.89%, Comparison Rate 5.92%
- Repayment Type: Principal And Interest
- Loan Purpose: Investment
essential_oo_tier1
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.59%, Comparison Rate 5.62%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
LVR greater than 50% and less than or equal to 60% inc LMI
Minimum: 50 PERCENT Maximum: 60 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.59%, Comparison Rate 5.62%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
essential_oo_tier1
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.69%, Comparison Rate 5.72%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
LVR greater than 60% and less than or equal to 80% inc LMI
Minimum: 60 PERCENT Maximum: 80 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.69%, Comparison Rate 5.72%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
essential_oo_tier1
Minimum: $250000.00 Maximum: $749999.00
- Lending Rate Type: Variable
- Interest Rate: 5.74%, Comparison Rate 5.77%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
LVR greater than 80% and less than or equal to 90% + LMI
Minimum: 80 PERCENT Maximum: 90 PERCENT
- Lending Rate Type: Variable
- Interest Rate: 5.74%, Comparison Rate 5.77%
- Repayment Type: Principal And Interest
- Loan Purpose: Owner Occupied
Product Features
- Redraw Additional Information: Redraw applies to variable rate loans only. Redraw extra funds you deposit whenever you like, with no withdrawal fees. You can redraw your extra funds using online banking, our mobile apps, BankPhone and BankAssist.
- Extra Repayments Additional Information: You may repay to AMP Bank the money owing in full or in part before the end of the term of your Variable loan. For Fixed rate loans a break cost may be incurred for additional repayments greater than $10,000 for each 12 month period within a fixed interest period. Please refer to Loan Conditions and Credit guide for more information on the consequences of repaying your Fixed Rate Loan early
Product Eligibility
- Residency Status - Individual Borrowers Must Be Permanent Residents Or Citizens Of Australia, All New To Bank Customers Must Be Living And Working In Australia. Additional Information: Individual borrowers must be Permanent residents or citizens of Australia, All new to bank customers must be living and working in Australia
- Min Age - 18. Additional Information: Eligible customers must be at least 18 years of age
Bank Fees and Charges
- Multiple Security Fee (Upfront), Amount: 250.00. Additional Information: Per security. Payable for each additional security offered at loan establishment. Fee is not refundable.
- Valuation Fee (Variable), Amount: Not Listed.. Additional Information: Payable when valuation costs associated with a loan application or variation exceed $550. If applicable, we will advise you of any excess valuation costs payable prior to the valuation.
- Rework Fee (Event), Amount: 249.00. Additional Information: Payable when a loan agreement or variation to loan agreement is re-issued due to changes requested by either you or the introducer.
- Amp Internal Refinance Fee (Upfront), Amount: 299.00. Additional Information: Payable on settlement. Payable on settlement where you had an AMP Bank loan immediately before establishment of this loan and that loan was refinanced or otherwise replaced with this loan, either in part or in whole.
- Variation Fee (Event), Amount: 299.00. Additional Information: Plus any solicitor's or mortgage processing costs, valuation costs if applicable and any government fees which may vary from state to state. Payable when we agree to vary your loan or any security - not payable for ProPack or AMP First loans. Switching to a variable rate or another fixed rate at the end of a fixed rate period is free. Switching your repayment type from interest only to principal and interest is free.
- Discharge Fee (Exit), Amount: 390.00. Additional Information: Payable when we are requested to discharge all securities. Customers also pay the actual solicitors' or mortgage processing servicers' costs, which include,for example, search fees and postage, valuation costs if applicable and any applicable Government fees, which may vary from state to state.
- Verification Of Identity By Australia Post (Variable), Amount: Not Listed.. Additional Information: Payable when you obtain a Verification of Identity service from an Australia Post office.
- Payment Dishonour Fees (Variable), Amount: Not Listed.. Additional Information: You may be charged a fee by an external bank or financial institution for a transaction relating to your loan (eg. if a payment to your loan made from another bank is dishonoured, the other bank may charge you a fee).
- Solicitors And Mortgage Processing Servicers' Cost (Upfront), Amount: 295.00. Additional Information: For loan agreements with up to 2 security properties. Plus $100 per additional security property. Whenever a new loan agreement is established and we instruct our solicitors or mortgage processing servicers' to act on our behalf in connection with this agreement or a security.
- Solicitors' And Mortgage Processing Servicers' Incidental Costs (Event), Amount: 82.50. Additional Information: Per security property. Whenever a variation to an existing loan agreement is made and we instruct our solicitors or mortgage processing servicers to act on our behalf in connection with the security property(s).
- Solicitor Or Mortgage Processing Servicer Non-standard Additional Costs (Variable), Amount: Not Listed.. Additional Information: Non-standard additional costs that may be payable, including courier costs, telegraphic transfer costs, cost to arrange settlement in a remote area and costs for urgent preparation of documents and/or urgent settlement.
- Cheque Deposit Or Electronic Payment Dishonour (Event), Amount: 12.00. Additional Information: When a cheque deposited to your account is dishonoured, or an electronic payment initiated from your account is sent back from a financial institution
- International Atm Cash Withdrawal Fee (Withdrawal), Amount: 4.50. Additional Information: When you withdraw from your account at any international ATM
- Currency Conversion Fee (Transaction), Amount: Not Listed.. Additional Information: When you use your AMP Visa Debit card to make a purchase overseas or withdraw from an ATM overseas in a foreign currency and the transaction is converted to Australian dollars
- Emergency Replacement Amp Visa Debit Card Fee (Event), Amount: 15.00. Additional Information: When you request urgent delivery of a replacement access card
- Telegraphic Transfer Fee - Deposits (Deposit), Amount: 30.00. Additional Information: When funds are transferred to your account (by SWIFT or telegraphic transfer) from a bank in Australia or overseas (in Australian dollars or a foreign currency)
- Telegraphic Transfer Fee - Withdrawals (Withdrawal), Amount: 30.00. Additional Information: When you request us to transfer funds from your account (by SWIFT) to a bank in Australia (in Australian dollars). When you request us to transfer funds from your account (by telegraphic transfer) to an overseas bank (in Australian dollars or a foreign currency).
- Transaction Trace Fee (Event), Amount: 20.00. Additional Information: When you request us to investigate and trace a transaction
- Visa Dispute Fee (Event), Amount: 25.00. Additional Information: When you dispute a Visa transaction and we do not find in your favour
- Audit Certificate Fee (Event), Amount: 25.00. Additional Information: When you or an auditor request an audit certificate for your account
- $0 Essential Application Fee (Upfront), Amount: 0.00.
- $0 Essential Valuation Fee (up To The Value Of $550). (Variable), Amount: 0.00.
- $0 Essential Settlement Fee (Upfront), Amount: 0.00.
- $0 Essential Account Management Fee (Periodic), Amount: 0.00.
- $0 Essential Monthly Fee (Periodic), Amount: 0.00.
- $0 Essential Annual Fee (Periodic), Amount: 0.00.
- $0 Essential Redraw Fee (Event), Amount: 0.00.
Limitations & Restrictions (Constraints)
- Min Limit of 250000 Additional Information: Minimum lending amount for new home loans is $250,000
Document Downloads
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