- A pause in home loan repayments for three months, with the option to extend for a further three months, for clients who are experiencing ongoing financial challenges as a result of COVID-19 (aka Coronavirus)
- All home loan clients aﬀected by COVID-19 are eligible – this includes all variable and fixed loan types, including owner occupiers and investors on both principal and interest or interest only repayment schedules and SMSF loans.
- Clients who are 30+ days in arrears, or have existing hardship arrangements in place are not eligible for the repayment holiday offer, however can seek help through our normal hardship support.
- During the repayment holiday, unpaid interest will be capitalised which means it will be added to the loan balance and when repayments start again they will be higher for the remainder of the loan term.
To start the process enquire here or phone 13 30 30 between 8am – 8pm Monday to Friday, or 9am – 5pm Saturday and Sunday (AEST).
For more information about our support package clients can call us on 13 30 30 or visit: https://www.amp.com.au/support/COVID-19
The pause on home loan repayments is part of a package or measures to ease the pressure on AMP Bank’s clients.
The relief package also includes:
- A range of new fixed rates for our existing owner occupied and investment clients, including a 2.39% pa1 (3.95% pa comparison rate2) fixed rate for our 2-year Professional Package Owner Occupier Principal and Interest product
- A waiver of the monthly account keeping fee for everyday and savings account holders, from 30 March 2020 until 1 October 2020
- Fee waivers for clients in financial hardship
For further details visit the AMP financial hardship page.