AMP Essential Home Loan
What happens when I click Enquire Now?
- Clicking Enquire Now will take you to the lender's website
- After completing the contact form, a mortgage expert will contact you
- The mortgage expert will ensure you find the right loan, calculate your repayments, and explains all the associated fees
- After going through the enquiry process you will be able to know how much you can borrow, begin your application when you are ready to apply and be approved for a home loan
Simple, Flexible, and Functional
Whilst a long list of extra features and frills is all well and good, when it comes to choosing a home loan, most people want a product that’s competitively priced, flexible, fair, and easy to understand.
The AMP Essential Home Loan is just that. Simple, flexible, and functional. There are no free insurances, loyalty bonuses, or any other tempting features that some lenders try to coax you with. Just a standard product that delivers what it promises, and does it very well.
Features
Competitive interest rates - The AMP Essential loan is a variable-rate product which offers good value for money. At time of press the interest rate stands at 6.45% and 6.47% by comparison.
No monthly fees - The AMP Essential is a fee free product. This means you won’t be paying any form of monthly administration or account management fee. You would probably be surprised how much money this will actually save you over the lifetime of an average home loan.
Free over-payments - If there are times when you have a little extra cash at hand, why not make an over-payment on your loan and reduce your debt faster. The great thing about this loan is that any over-payments you make are free.
Some lenders charge a penalty for over-payments in a bid to recoup some of the money they lose in the long run.
Split your loan – To give you even more control and flexibility. You can make up to 10 AMP Essential Home Loan splits, with a min amount of $10,000.
You can then switch things round as you need to. This means you can set things up so you can pay more when you can afford it, and less when you can’t.
Redraw facility – Nobody can predict the future, and there may be times when you need a small injection of cash. If so then you can access the funds by utilising your redraw facility. This means you essentially borrow back some of what you’ve repaid.
It’s a bit like having a rolling form of credit, although the loan shouldn’t be thought of in that way.
All in all this is an ideal home loan for those looking for a simple product that offers both flexibility and functionality. What the product lacks in frills, it more than makes up for in value.
Read the official terms and conditions
Top Home Loans
| Home Loan | Details | Interest Rate (p.a.) | Comp Rate^ (p.a.) | App Fee / Ongoing Fee | Max LVR | Min & Max Borrowing | |
|---|---|---|---|---|---|---|---|
 Loans.com.au - Dream Catcher | A home loan offer with a $0 application fee and one of the lowest available home loan interest rates. | 5.85% | 6.21% | $0 / $375 | 80% | $50,000 / $750,000 |
 
|
 Bankwest Online Home Loan | A low interest rate home loan with a $0 application fee and ongoing maintenance fees. This offer is exclusively available by applying online. | 5.97% | 5.97% | $0 / $0 | 80% | $100,000 / $1,000,000 |
|
 Illawarra Home Loans Bank Beater Home Loan | A low variable rate, beaten down even further by 0.05% p.a. after 5 years. | 6.07% | 6.35% | $0 / $345 | 90% | $250,000 / $1,000,000 |
|
 State Custodians Mortgage Company Standard Variable Offset Loan | Awarded the 2011 Non bank Lender of the Year this feature-packed loan rewards customers with a bonus rate drop of 0.25% after 5 years. | 6.02% | 6.23% | $0 / $345 | 95% | $150,000 / $1,000,000 |
|
Ask A Question About This Product