AMP Bank has reduced its interest rates for new and existing customers across all variable rate home loans by 25 basis points.
This is in line with the Reserve Bank of Australia’s reduction to the official cash rate.
The AMP standard variable home loan interest rate will be reduced to 7.57 per cent per annum. The new AMP Essential Home Loan will be reduced to 6.60 per cent per annum.
The changes come into effect from Friday 11 November for new customers and Monday 14 November for existing customers.