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See all home loan interest rates & fees

Construction loan

Build, renovate or develop with a great rate loan

Variable rates from 1
% pa
Comparison rate 3
% pa
Terms & conditions
This product includes:

  • Competitive variable rate for 12 months

  • Interest only payment with freedom to make extra repayments

  • Ability to borrow up to 90% of the property value

  • 100% Offset during construction

  • Choice of package: Professional Package, Basic or AMP First

This product does not include:

  • The option to delay your purchase, build or renovation past 12 months from loan start date

  • Fixed rate options during Construction

  • Redraw

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Land loan

A variable interest rate credit facility secured by land (with no offset facility).

Variable rates from 2
% pa
Comparison rate 3
% pa
Terms & conditions
This product includes:

  • Terms up to 30 years at variable rate

  • Interest only repayment option for up to five years

  • Easy access to your money with redraw facility

  • Flexible repayment options (Weekly, fortnightly, and monthly) on P&I only

This product does not include:

  • Waived settlement fee

  • 100% offset

  • Fixed rate option

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Construction loan

If you’re building, extending or renovating an owner-occupied or investment property, construction finance is a feature available to you when taking out a Professional Package, Basic Package or AMP First Home Loan.

You’ll have 12 months to draw down on your construction loan and any remaining balance will then be rolled into your selected AMP Bank home loan.

What's in it for you?

Flexibility

Take up to 12 months to build, extend or renovate your home or investment property.

Freedom

Draw down on your loan at various stages to match your construction schedule.

Value

Benefit from a competitive rate, with interest calculated only on the funds you’ve withdrawn.

Features

Up to 10 offset accounts available during the construction period.

Choice

Make interest only repayments during the construction period, with the freedom to make extra repayments if you choose.

Borrowing power

If you’re going to live in the property, you could borrow up to 90% of its value.

Ready to take the next step?

Book a chat

Land loan

With no pressure to build straightaway, you can buy vacant land or acreage and hold on to it for up to 30 years on our variable rate. And with no ongoing fees, you decide between minimum interest only repayments or fast-track with extra repayments without penalty.

Not only do you have the flexibility to pay off your land loan sooner, you can also redraw any extra repayments easily and without fees, using My AMP or BankPhone to transfer funds into any account.
 

What's in it for you?

No pressure to build

With our Land Loan you have the ability to purchase land and plan ahead.

Interest only repayment option

It’s your choice ― elect to pay interest only for up to five years.

The benefits of great rates

Up to 30 years at variable rate.

Additional repayment options

With the AMP Land Loan you have the option to make additional repayments.

The ability to split your loan

Up to 10 sub-accounts available for construction or land loans ($10,000 minimum for each account).

Easy access to your money

Redraw funds via internet and phone banking when you need them.

Redraw advantages

  • AMP Bank Land Loan lets you redraw any extra funds you deposit whenever you like.
  • Making additional repayments at any time is a great way to reduce your outstanding balance, which reduces the amount of interest you pay over the life of your loan. You can cut years off your loan and save money with every extra dollar you deposit.
  • This Land Loan also lets you make repayments weekly, fortnightly or monthly (Interest only requires monthly repayments.) Remember, the frequency of repayments (or an extra payment) also helps shorten the term of your loan.

Land loan owner occupied new business rates & fees

Effective 

Loan type  Principal and Interest  Interest Only 
  (LVR ≤90% + LMI) (LVR ≤80%)
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Land Loan(iii) % pa % pa % pa % pa
Reference Rate(iv) Standard Reference Rate Standard Reference Rate Interest Only

 

A Settlement fee of $349 applies. 

(i) Rates are subject to change. 
(ii) Comparison rate calculated for a secured loan on a loan amount of $150,000 for a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison.
(iii) Rate is for new loans only and subject to change.
(iv) View a full list of Reference Rates and their values.

Terms and Conditions apply and are available on request. Approval is subject to AMP Bank guidelines.
Available for new home loan customers with a single, owner occupied security only, with the intention of building a single owner occupied property on the land. Other fees and charges apply. Full details are available in the Home loan fees and charges guide.

Land loan investment new business rates & fees

Effective 

Loan type Principal and Interest Interest Only
  (LVR ≤90%) (LVR ≤80%)
  Interest rate(i) Comparison rate(ii) Interest rate(i) Comparison rate(ii)
Land Loan(iii) % pa % pa % pa % pa
Reference Rate(iv) Standard Reference Rate Investment Standard Reference Rate Interest Only Investment

 

A Settlement fee of $349 applies. 

(i) Rates are subject to change. 
(ii) Comparison rate calculated for a secured loan on a loan amount of $150,000 for a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison.
(iii) Rate is for new loans only and subject to change.
(iv) View a full list of Reference Rates and their values.

Terms and Conditions apply and are available on request. Approval is subject to AMP Bank guidelines.
Available for new home loan customers with a single, owner occupied security only, with the intention of building a single owner occupied property on the land. Other fees and charges apply. Full details are available in the Home loan fees and charges guide.

Support at your fingertips

If you need assistance or have any questions, provide your details and one of our home loan specialists in Australia will get in touch.

Book a chat →

New Home Loan enquiries

Call: 1300 534 325

Email: direct_lending@ampbanking.com.au

Mon - Fri 9am - 5pm Sydney time

All other  Home Loan enquiries

Call: 13 30 30

Email: info@ampbanking.com.au

Mon - Fri  8am - 8pm
Sat & Sun 9am - 5pm Sydney time

What you need to know

1 Rate quoted is for Owner Occupied Professional Package loans of $500,000 or more. Loan to value ratio up to 90% + lenders mortgage insurance. Other rates apply for under $500,000 Professional Package loans, Basic Package and AMP First loans, and investment property loans. Rate is for new loans only and subject to change.

2 $40,000+, LVR ≤90% + LMI, & P&I repayments. Other rates apply for Investment property loans. Rate is for new loans only and subject to change.

3 The comparison rate is calculated for a secured loan on a loan amount of $150,000 over a 25-year term. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Comparison rates for construction loans are based on an initial 1 year interest only period with interest payable at the Construction variable rate and a subsequent 24 year principal and interest period with interest payable at the Construction variable rate.

^ LMI - Lenders Mortgage Insurance (LMI) may apply. You may be able to capitalise your LMI premium to the loan up to an LVR of 80%. Lending terms and conditions apply.

The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.

It’s important to consider your circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Information including interest rates is subject to change without notice.

Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable.

This information is provided by AMP Bank Limited. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.

AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice. 

A target market determination for these products is available on our TMD page.