The AMP standard variable home loan interest rate will be reduced to 6.00 per cent per annum. The AMP Essential Home Loan will be reduced to 4.90 per cent per annum.

AMP Bank has also reduced its interest rate for its one year standard fixed rate home loan by 20 basis points to 4.69 per cent per annum, effective 11 August 2013.

Interest rates have also been cut for the two, three and five year standard fixed rate home loans:

The interest rate reduction also applies to Select, Affinity and AMP SuperEdge fixed rate home loans but excludes Low Doc fixed rate home loans.

The variable rate changes come into effect on Thursday 22 August for new customers and Sunday 25 August for existing customers.

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The AMP standard variable home loan interest rate will be reduced to 7.07 per cent per annum.

The new AMP Essential Home Loan will be reduced to 6.10 per cent per annum.

The changes come into effect from Friday 18 May for new customers and Monday 21 May for existing customers.

AMP Bank customers can visit www.amp.com.au/banking or call 13 30 30 for further information

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