AMP Bank increases variable interest rates on investment loans

AMP Bank has announced an increase to  variable interest rates on residential investment loans of 15 basis points,  effective 6 January 2017 for new customers and 9 January 2017 for existing  customers.

The AMP Professional Pack Home Loan  variable interest rate for investor loans $250,000 and above will increase from  3.99 per cent to 4.14 per cent per annum.

There are no changes to variable  interest rates for owner occupied loans.

Sally Bruce, Managing Director AMP  Bank commented: “We remain focused on supporting our customers with competitive  interest rates.

“Changes to our home loan rates take  into account increasing wholesale funding costs and the need to maintain a  balanced portfolio in line with regulatory guidelines,” she said.

 

Author: Martin North

Martin North is the Principal of Digital Finance Analytics

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