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AMP Bank announces variable home loan interest rate reductions

21 May 2025

From AMP Bank Limited

Michael Christofides

Following the RBA’s decision to decrease the official cash rate by 0.25%, AMP Bank is reducing interest rates across all variable rate home loans by 0.25% per annum (pa) effective 2 June 2025 for customers.

We will continue to offer a range of competitive options for customers looking for both at call savings and term deposits, including rates of up to 4.70% pa*^ on the AMP Saver account and Term Deposit rates up to 4.50% pa.^

Michael Christofides, AMP Bank’s Director, Lending & Everyday Banking said: “We’re pleased to pass on this rate reduction to our customers, helping to ease some of the financial pressure many are feeling.

“We remain committed to supporting our customers through changing economic conditions, and we encourage anyone experiencing financial difficulty to reach out – our team is here to help.”

———-

* Up to 4.70% pa ongoing variable rate from 23 May 2025 on balances up to $500,000. Offer is limited to one account per person. For any portion of the balance over $500,000 and up to $5,000,000 the interest rate reverts to the standard rate only. The maximum ongoing balance per customer name is $5,000,000.
^Interest rates are variable and subject to change.

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