Land Loan

Build your property portfolio
with land to use now or later
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5.73% pa   /   5.78% comparison rate2

Owner Occupied variable rate loan1 $100,000+, LVR < 90% + LMI, & P&I repayments. Other rates apply for Investment property loans.

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 you name (pay anyone) via online transfer.

The Land Loan offers:

✓ 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.

✓ The ability to split your loan

With up to 10 sub-accounts available with other land or construction loans you can choose to split your loan if you like ($10,000 minimum for each account).

✓ Additional repayment options

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

✓ Easy access to your money

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

Your product features

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.

Effective 8 March 2019

Loan type Prinicpal and Interest Interest Only
 

Interest rate(i)

Comparison rate(ii)

Interest rate(i)

Comparison rate(ii)

Land Loan

5.73% pa

5.78% pa

6.45% pa

6.08% pa

Reference Rate(iii) 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) 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.

Effective 8 March 2019

Loan type Prinicpal and Interest Interest Only
 

Interest rate(i)

Comparison rate(ii)

Interest rate(i)

Comparison rate(ii)

Land Loan
(LVR <80% including LMI)

6.79% pa

6.84% pa

7.24% pa

7.04% pa

Reference Rate(iii) 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) 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. Other fees and charges apply. Full details are available in the Home loan fees and charges guide.

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Important information

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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 Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.

Information including interest rates is correct and is subject to change without notice. Approval is subject to AMP Bank guidelines. Terms and conditions apply. Fees and charges are payable. 

All information on this website is subject to change without notice.

1 Rate is for new loans only and subject to change.

2 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 variable interest only loans (except construction loans) are based on an initial 5 year interest only period and a subsequent 20 year principal and interest period.