Following the Reserve Bank of Australia’s (RBA) cash rate decision, AMP Bank has announced interest rate changes for home loan, savings, and deposit customers.
The interest rates for variable rate home loans will increase by 0.50 per cent per annum (pa) effective 16 September 2022 for new customers and 19 September 2022 for existing customers.
Interest rate increases have been made across most savings and deposit products as follows:
- Pricing for four-month terms and longer will increase for Retail Term Deposits and Term Deposits offered through AMP wealth platforms with effective dates between 11 September 2022 and 15 September 2022.
- AMP Notice products1 will increase by 0.50 per cent pa effective 12 September 2022.
- Cash account rates offered by AMP Bank to investment clients through AMP wealth platforms will increase by 0.50 per cent pa effective 12 September 2022.
- AMP Cash Manager, AMP SuperEdge Cash and AMP SuperEdge Pension products will increase by 0.50 per cent pa effective 19 September 2022.
- Welcome bonus rate for new AMP SuperEdge Saver customers will increase by 0.50 per cent pa effective 19 September 2022.
- Welcome bonus rate for new AMP Business Saver customers will increase by 0.30 per cent pa effective 19 September 2022.
AMP Bank is conscious of the impact that increasing home loan rates will have on borrowers. The Bank is committed to providing competitive rates for both home loan customers and savers to help them manage their budgets and achieve their financial goals.
For more information on home loan rate changes, customers can visit amp.com.au/interest-rate-update.
Information on banking accounts can be found at amp.com.au/banking.
Target market determinations for AMP Bank products are available at amp.com.au/banking/info/target-market-determinations.
1.AMP Bank’s AMP Notice Account, AMP 6-month Notice Account, AMP Notice Account Financial, AMP 6-month Notice Account Financial.
The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.