AMP Bank has announced will reduce interest rates across a number of variable and fixed rate loans for new customers, effective Monday 18 January 2016.
The AMP Essential variable rate loan will be reduced by 30 basis points to 4.08 per cent
per annum (comparison rate 4.10 per cent per annum).
The Basic 3 year fixed rate will drop by 27 basis points to 4.28 per cent per annum (comparison rate 4.32 per cent per annum).
The variable rate on new investor property loans for the Basic loan will reduce by 40 basis points to 4.57 per cent per annum (comparison rate 4.61 per cent per annum).
The Basic 3 year fixed rate for new investor property loans is reducing by 45 basis points to 4.57 per cent per annum (comparison rate 4.61 per cent per annum).
