AMP Bank has announced an increase to variable interest rates on residential investment loans of 15 basis points, effective 6 January 2017 for new customers and 9 January 2017 for existing customers.
The AMP Professional Pack Home Loan variable interest rate for investor loans $250,000 and above will increase from 3.99 per cent to 4.14 per cent per annum.
There are no changes to variable interest rates for owner occupied loans.
Sally Bruce, managing director of AMP Bank commented: “We remain focused on supporting our customers with competitive interest rates.
“Changes to our home loan rates take into account increasing wholesale funding costs and the need to maintain a balanced portfolio in line with regulatory guidelines,” she said.
