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Cite as: (2005) 79(9) LIJ, p. 11

When the little things add up to big savings

An exclusive home loan package from AMP Banking can help LIV members save money.

Australians enjoy one of the highest home ownership rates in the world, but rising interest rates and a slowing economy could push the reality of owning a home out of reach for young people. Saving a good deposit is a must, but it does not need to be hard work.

Did you know that cutting out one take-away coffee a day could save you up to $750 per year? Every little bit helps when saving your deposit. Think about saving the recent tax cuts instead of spending them. Someone earning $45,000 will have an extra $26 per month to save. Add that to the $750 you save on coffees and put it in an online savings account paying 5.25 per cent pa. You will have $6560 after five years.

Don’t forget “one-off fees” such as stamp duty, legal fees and mortgage insurance.

These can add a large amount onto the cost of a house. When shopping for loans keep an eye out for promotions offering no application fees or annual package fees – which is exactly what you can get as an LIV member with the exclusive home loan package from AMP Banking.

This exclusive package could save you thousands when buying a new home, renovating or refinancing your existing home, with special discounts for LIV members on the LIV Home Loan package.[1]

  • save up to 0.65 per cent pa off AMP’s standard variable rate;
  • save up to 0.55 per cent pa off AMP’s standard line of credit rate;
  • save up to 0.15 per cent pa off AMP’s fixed rate;
  • save $350 with NO application fee;
  • save $330 per year with NO annual package fee; and

... on a $300,000 home loan you could enjoy monthly interest savings of $164 – a saving of over $10,000 in just five years.[2]

When you transfer to AMP Banking, you can be assured of exceptional customer service – making the process a whole lot easier. We also offer online assistance and access to AMP Banking’s personal banking products.

So don’t get complacent about your home loan – speak to an AMP Affinity Home Loan specialist today.

It’s quick, easy, obligation-free and could save you thousands off your mortgage. Our specialists will identify your home loan requirements and then assist you to structure a loan package to meet your exact needs.

Apply now, it’s easy. Simply contact an AMP Affinity Home Loan specialist on ph 1300 360 525 to see how much you could save.

[1] Package benefits, including fee waivers and interest rate discounts, are current as at 1 June 2005, subject to change at any time by AMP Banking and only available for loans $100,000 and above. Other fees and charges apply. Only available to current LIV members, via the Affinity Banking team. Approval is subject to AMP Banking guidelines. The credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL No. 234517, trading as AMP Banking.

[2] Calculations are approximate savings when comparing interest rates of 6.67 per cent pa and 7.32 per cent pa for a principal and interest 30-year-term loan and are based on the maximum interest rate discount of 0.65 per cent pa. Fee waivers included in total five-year savings only. Interest rates assumed not to change over five years. The interest rates used in this calculation are not intended to represent any annual percentage rates offered or take into account any fees and charges that may be payable on a loan. For actual interest rates and comparison rates, please go to


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