Finty

AMB Bank Value Home Loan

Variable rateOffsetRedraw

Get the flexibility of a variable rate with the benefit of a 100% offset facility. The Value Home Loan is also available for DHOAS eligible applicants

Written byDavid Boyd
Interest rate a year, from
6.54%
Comparison rate
6.57%
Upfront fees
$450
Annual fee
Not published
Monthly fee
Not published

Monthly repayment

$600,000 over 30 years

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What it would cost

At the lowest rate of 6.54% (variable, live in, principal and interest). The rate you are offered depends on your deposit and the loan you choose, and upfront fees are not included.

Monthly repayment
$3,808
Total repayments
$1,370,954
Interest
$770,954

Rates

Every rate AMB Bank publishes for this loan. LVR is the loan as a share of the property's value: 80% for a 20% deposit.

RatePropertyRepaymentsLVRInterest rateComparison rate
VariableLive inPrincipal and interestUp to 70%6.54%6.57%
VariableLive inPrincipal and interest70% to 80%6.74%6.77%
VariableLive inPrincipal and interest80% to 90%6.94%6.97%
VariableLive inPrincipal and interest90% to 98%7.19%7.23%

Comparison rates are for an example loan of $150,000 over 25 years. WARNING: This comparison rate is true only for the example given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Fees and features

Fees

Upfront fees
$450
Annual fee
Not published
Monthly fee
Not published

Features

Offset account
Yes
Redraw
Yes
Highest LVR
98%
Loan amount
From $150,000 up to $5,000,000

How it compares

Against the other home loans we compare, for a home you live in with a 20% deposit. Typical means the middle half of them.

Variable rate

6.74%

For a home you live in, paying principal and interest. Typical is 6.62%.

Comparison rate

6.77%

For the same rate. Typical is 6.70%.

Upfront fees

$450

Typical upfront fees are $600.

Smallest deposit

2%

Most loans need at least 10% of the price.

Pros and cons

Pros

  • A smaller deposit. You can borrow with 2% down, so you may buy sooner. Under 20%, lenders mortgage insurance usually applies.
  • An offset account. Money in it is taken off your balance when interest is worked out, so your savings and pay cut the interest while staying easy to reach.
  • Extra repayments. Paying more than the minimum pays the loan off sooner and cuts the interest you pay.
  • Redraw. You can take back extra repayments later if you need the money.
  • No early repayment fee listed. You can pay the loan off early, or refinance, without a penalty. Check the terms to be sure.

Cons

  • A $20 late payment fee. Setting up automatic repayments avoids it.

Similar home loans

Home loans from other lenders with a similar starting variable rate, for a home you live in with a 20% deposit.