AMP Bank's SuperEdge product has officially reentered the market, marking the second-tier lender's return to the SMSF lending market after eight years. AMP Bank, alongside the vast majority of traditional lenders, left the SMSF lending space in the late 2010s following years of regulatory scrutiny over leveraged superannuation investments. Both the 2014 Financial System Inquiry and the Banking Royal Commission warned that leveraging superannuation to invest, including in property via limited recourse borrowing arrangements, can magnify losses and threaten retirement adequacy. The Inquiry recommended that the government restore the general prohibition on direct borrowing by superannuation funds. These concerns were amplified when housing prices softened in parts of Australia in the late 2010s, prompting major banks including Commonwealth Bank, Westpac and Macquarie to stop offering SMSF lending products.
NAB left the SMSF lending space back in 2015. But with 1.2 million members holding over $1 trillion worth of assets in SMSFs, and housing prices continuing to soar, AMP Bank believes now is the right time to return to the market.
AMP's director of lending and everyday banking Michael Christofides said it was "great to be in market with a solution that delivers on demand from brokers and their clients for a secure, bank-backed SMSF lending solution".
SuperEdge supports principal-and-interest and interest-only lending options, with optional offsets. While few major banks operate in the SMSF lending space, AMP Bank will be competing with a thriving cohort of non-lender lenders that have planted their flags in the market. La Trobe Financial, Liberty, Firstmac Pepper Money and others are active in the SMSF lending market, although they are unable to provide offset capabilities.
SMSF lending is a natural fit for AMP Bank. AMP Bank has purposefully increased its exposure to the property investor market, including launching its 10-year interest-only mortgage in May 2025, tailored specifically to retirement-age and near-retirement-age borrowers. The bank's investor loan growth outpaced its owner-occupier segment by over 250% in the financial year ending 31 December 2025, per its latest results.
As of 31 December, investor loans comprised 39% of AMP Bank's balance sheet, up from 38% in 2024 and 36% in 2023.
Alongside retail banking, AMP also has a commanding presence in superannuation and wealth management.