Basic and Select Home Loans existing customer FAQs

Basic and Select Home Loan products will no longer be available to new customers from 31 August 2025. This allows us to simplify our home loan range and continue enhancing the service we provide to you.

Basic and Select Home Loans will no longer be available  to new customers starting 31 August 2025. If you are an existing customer, your loan continues as normal.

No, there is no change to your existing home loan. Your account number, interest rate, repayment arrangements, and any linked offset accounts (if applicable) will all remain the same. No action is required from you.

Yes, you can continue to access your home loan account as usual through My AMP. There are no changes to your login details or online services.

Yes, you can continue to make extra repayments or pay out your loan early, just as you do now. Your loan terms and conditions remain unchanged.

Yes, you can switch your Basic or Select Home Loan to a fixed or interest only loan if you wish. Please contact us for more details about your options.

Here are some examples of changes to your loan that would require switching to one of our current home loan products:

• Increasing your home loan
• Opening a new split
• Extending your loan term
• Reducing total loan limit
• Decreasing remaining loan term
• Substitution of security
• Partial discharge
• Opening a new master limit.

If a product switch is required, we will guide you through the process and ensure that you receive a product that suits your needs.

Should you need to move to a different product in the future, you’ll have access to our current range of home loans, including the:

1. Professional Package Home Loan
2. Essential Home Loan

Any switch will be managed to ensure a smooth transition, and fees that would usually apply will be waived.

No, if you move from a Basic or Select Home Loan to another AMP home loan product as a result of these changes, any variation or product switch fees will be waived. We’ll also ensure you’re not disadvantaged with higher rates or extra fees.

If you choose to switch to a different AMP home loan, you’ll receive either the same interest rate you currently have, or a better rate if one is available for your new loan.
We’ll discuss all available rates and options with you to help you make an informed decision. Rest assured, switching will never result in a higher rate than what you currently pay.

No, we will not move your loan to a new product without your consent. You’ll remain on your existing Basic or Select Home Loan unless you request a change or certain loan variations require it.

If after reviewing our current range of home loan products, you feel that switching might better suit your circumstances , you’re welcome to request a change at any time. Simply complete the Loan Change Request Form and return it to us either by email at loanservicingenquiries@amp.com.au or by post to:

AMP Bank
Reply Paid 79702
PARRAMATTA NSW 2124

Please note: Product switches are subject to a service level agreement (SLA) of indicative 10 business days. Additionally, if you switch from a Basic or Select home loan, these products will no longer be available to you in the future.

You can contact us at any time if you’d like to discuss switching products, if you have any questions or need help with the form. Please send us a secure message via My AMP Or by calling 13 30 30 (from within Australia) or +61 2 8364 6000 (from overseas). Our team is available Monday to Friday, 8am – 8pm, and weekends 9am – 5pm (Sydney time).

We’re here to help you find the best solution for your needs.

If you are experiencing financial difficulty or need support, please contact us as soon as possible. We’re here to help and can discuss the options available to you.