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We are beyond happy… You have moved mountains, and we are very grateful for your efforts and support to arrange [our] loan.
Reduce the interest calculated on your eligible AMP Bank home loan by depositing your regular income and earnings into an everyday banking offset deposit account.
Your savings will help reduce interest calculated, but you can still use the funds in your deposit accounts when you need to. Manage your account online, via My AMP app, or by phone banking.
Looking for a personal home loan with access to variable offset accounts? Try our Offset Home Loan
Use all your deposited funds to reduce your interest repayments. See how you can potentially save years and thousands of dollars of loan repayments with the loan offset calculator. Add your regular deposits like salary, bonuses or other income on the extra repayments tab to view how these funds work to offset the outstanding balance of your loan.
The daily combined value of the funds in your deposit accounts is offset against your home loan amount. This means interest is calculated on a lower amount than your actual loan.
| Home loan balance | $400,000 | |
| Offset Deposit Account 1 balance | $35,000 | |
| Offset Deposit Account 2 balance | $40,000 | |
| You will only pay interest on | $325,000 |
If you have a 30 year home loan, with a consistent balance of $75,000 in your Offset Deposit Account and a constant rate of 6% pa:
Estimate of interest saved: $244,075 |
Estimate of time saved on your loan: 8 years and 5 months |
We’ve got you covered with a streamlined online application, competitive rates and advice from our local home loan specialists.
Flexible repayment options
Choose between weekly, fortnightly, or monthly repayments to
Unlimited repayments on all variable loans
Make unlimited repayments on variable rate home loans, and u
Fast, hassle-free approvals
We provide same day approval to eligible borrowers.*
Self-employed options
Simple processes requiring less paperwork, so you have more
This account is for AMP Bank home loan customers to reduce the amount of interest calculated on their eligible home loan.
New customers can view eligible home loans for an Offset Deposit Account.
What you'll need:
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. Full details are available in the Fees and charges guide.
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.
