Buy AMP loan, get PC free -- for a catch

The AMP Banking Home Loan PC Package gives customers an IBM Aptiva personal computer worth $1699, free installation, 30 days of technical support and internet connection offers from Telstra, Optus and AOL. IBM will deliver the PCs direct to customers.

However, the offer is loaded with up-front conditions. The bundle is only available for applications of $100,000 or more and customers must open an AMP credit card or AMP Banking cash management account. Moreover, should a customer settle their loan within three years, they are required to foot a $1000 bill towards the cost of the PC.

"I'm not sure if I'd say it's a gimmick," said Michael Guggenheimer, head of AMP Banking Australia. "We want to add value for the existing customer."

AMP Banking refused to provide customers with free internet access under the deal, saying "we did not find a single ISP to suit our customer's needs". The official line then shifted to: "The customer is not funding this offer. We are funding it."

Despite AMP's prediction that the bundle would attract an "incremental increase" in applications for the deal, executives would not disclose how much they had budgeted for to meet demand. "We will continue to fund for the market," Guggenheimer said. AMP Banking's home applications for June generated $120 to $130 million in earnings.

AMP Banking will charge a flat application fee of $600. The cut-off for applications is September 30.

Join the newsletter!

Error: Please check your email address.
Rocket to Success - Your 10 Tips for Smarter ERP System Selection
Keep up with the latest tech news, reviews and previews by subscribing to the Good Gear Guide newsletter.

Helen Han

PC World
Show Comments

Cool Tech

SanDisk MicroSDXC™ for Nintendo® Switch™

Learn more >

Breitling Superocean Heritage Chronographe 44

Learn more >

Toys for Boys

Family Friendly

Panasonic 4K UHD Blu-Ray Player and Full HD Recorder with Netflix - UBT1GL-K

Learn more >

Stocking Stuffer

Razer DeathAdder Expert Ergonomic Gaming Mouse

Learn more >

Christmas Gift Guide

Click for more ›

Most Popular Reviews

Latest Articles

Resources

PCW Evaluation Team

Edwina Hargreaves

WD My Cloud Home

I would recommend this device for families and small businesses who want one safe place to store all their important digital content and a way to easily share it with friends, family, business partners, or customers.

Walid Mikhael

Brother QL-820NWB Professional Label Printer

It’s easy to set up, it’s compact and quiet when printing and to top if off, the print quality is excellent. This is hands down the best printer I’ve used for printing labels.

Ben Ramsden

Sharp PN-40TC1 Huddle Board

Brainstorming, innovation, problem solving, and negotiation have all become much more productive and valuable if people can easily collaborate in real time with minimal friction.

Sarah Ieroianni

Brother QL-820NWB Professional Label Printer

The print quality also does not disappoint, it’s clear, bold, doesn’t smudge and the text is perfectly sized.

Ratchada Dunn

Sharp PN-40TC1 Huddle Board

The Huddle Board’s built in program; Sharp Touch Viewing software allows us to easily manipulate and edit our documents (jpegs and PDFs) all at the same time on the dashboard.

George Khoury

Sharp PN-40TC1 Huddle Board

The biggest perks for me would be that it comes with easy to use and comprehensive programs that make the collaboration process a whole lot more intuitive and organic

Featured Content

Product Launch Showcase

Latest Jobs

Don’t have an account? Sign up here

Don't have an account? Sign up now

Forgot password?