AMP Bank has increased the discounts on its Professional, Affinity and Select Package home loan products by 15 basis points to 1.00 per cent.
The offer is available for variable rate loans over $500,000. The current AMP Bank standard variable rate is 6.50 per cent.
The changes come into effect on Monday 29 April for new customers and existing customers increasing their loan amount.
AMP Bank Chief Operating Officer Rob Slocombe said: “The increase in the discount rate makes AMP Bank’s variable rate loan products even more competitive.
“This adds to the attractiveness of our suite of products, which also includes the popular AMP Superedge loan for SMSF customers.”