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.
, 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.