If you’re looking for a simple place to stash your cash AMP Saver Account just might do the trick. You’ll be able to earn an ongoing variable bonus rate of 5.40% p.a.with this account as long as you deposit $1,000 in the previous month, plus you won't have to worry about paying any pesky ongoing account keeping fees.
With the AMP Saver Account, customers can earn up to 5.40% p.a. total ongoing variable interest rate on the first $250,000 of their account balance - a 1.20% p.a. standard variable rate, plus a variable bonus of 4.20% p.a. - if you make eligible deposits of at least $1,000 in the previous month into your AMP Saver Account.
Interest is earned on your account balance in the month following each eligible deposit and will be paid by the 10th of the next month. Just beware that for savings above $250,000, your rate will drop down to the 1.20% p.a. standard variable rate. The bonus interest rate offer of 4.20% p.a. is available for one account per person.
Need access to your cash right now? Or have an urgent bill that needs paying? The AMP Saver Account gives you the flexibility to move your money around with unlimited free transactions from your mobile banking app, via the internet or over the phone, and if you connect your AMP Saver Account to an AMP Bank everyday transaction account like the AMP Bank Access Account you'll also get access to a Visa Debit card, Apple Pay, Google Pay and rebated ATM fees.
The AMP Saver Account could be a great pick for committed savers who can keep the minimum deposit amount each month. This might also be a winner for savers who require flexible access to their funds and will take advantage of the unlimited deposits and withdrawals features.
Bear in mind, with this account there is no branch or ATM access. There is also a maximum balance limit of $5,000,000 per customer.
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Balances from $0: 1.20% p.a. |
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Balances from $0: 5.40% p.a. |
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Ongoing total variable bonus rate of up to 5.40% per annum applies if customers deposit $1,000 in the previous month. Available only on balances up to $250,000. |
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$0.00 |
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n/a |
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Unlimited free transactions from mobile app, internet, phone (when linked to transaction account). |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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no |
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Ongoing total variable bonus rate up to 5.40% p.a. is earned on the balance the month after you deposit $1,000 and is paid the following month, on balances up to $250k. Max balance per customer name is $5 million. |
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none |
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none |
^See information about the Mozo Expert Choice Awards
Fantastic bank. Awesome rates. App so easy to use.
Read full reviewFantastic bank. Awesome rates. App so easy to use.
Easy banking Good and secured Good Interest rates
Read full reviewEasy banking Good and secured Good Interest rates
My AMP saver account is the first time I’ve ever seen real returns on interest from any savings account. 1.20% interest rate Has to be the best saving account in Australia
Read full reviewMy AMP saver account is the first time I’ve ever seen real returns on interest from any savings account. 1.20% interest rate Has to be the best saving account in Australia
Been banking with AMP for few years and had disputed with them for large sum of unpaid interest rates due to their every changing benchmarks. In my case the bank had claimed that I was 'informed' of their policy change by a physical letter but then changed their their story via an email. They can't even tell what was the method of informing nor the dates it was sent and I have received non of it. Their complaint team literally pushes the responsibility back to their customer for us to keep up with their online publication. Who would ever have time to check their bank policy from time to time? Quite obviously a set-up holding the customers funds with the intention to avoid paying interest to their customers where possible. Fed up with this bank and is time to move on to a bank that can be trusted.
Read full reviewBeen banking with AMP for few years and had disputed with them for large sum of unpaid interest rates due to their every changing benchmarks. In my case the bank had claimed that I was 'informed' of their policy change by a physical letter but then changed their their story via an email. They can't even tell what was the method of informing nor the dates it was sent and I have received non of it. Their complaint team literally pushes the responsibility back to their customer for us to keep up with their online publication. Who would ever have time to check their bank policy from time to time? Quite obviously a set-up holding the customers funds with the intention to avoid paying interest to their customers where possible. Fed up with this bank and is time to move on to a bank that can be trusted.
Do not open this product. You will not generate interest on your money until the next month. For example, I deposited 250k and only got 140 dollars interest for the month. Very very misleading, very unclear and inconsistent t&Cs. Stay clear
Read full reviewDo not open this product. You will not generate interest on your money until the next month. For example, I deposited 250k and only got 140 dollars interest for the month. Very very misleading, very unclear and inconsistent t&Cs. Stay clear
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
2.85% p.a.(for $0 to $50,000)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
2.00% p.a.(for $0 and over)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
0.55% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
Yes up to $250,000
2.85% p.a.(for $0 to $50,000)
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
4.40% p.a.(for $0 to $250,001)
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000
2.00% p.a.(for $0 and over)
Savings Maximiser
0.55% p.a.(for $0 and over)
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
Bonus Saver Account
0.05% p.a.(for $0 and over)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Kids Bonus Saver
0.05% p.a.(for $1 and over)
0.85% p.a. (for $5,556 and over)
Yes up to $250,000
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
3.01% p.a. (for $0 and over)
Yes up to $250,000
Progress Saver
0.01% p.a.(for $0 and over)
4.25% p.a. (for $0 and over)
Yes up to $250,000
