AMP Saver Account

2.10% p.a.(for $0 to $5,000,000)

2.55% p.a. (for $0 to $5,000,000)

 

AMP Saver Account Review

Review published: 16 November 2018

What's hot:

  • Winner of Mozo's Experts Choice Awards 2017

  • 2.55% bonus rate for 4 months

What's not:

  • Rate drops after intro period

Mozo snapshot:

There's a reason the AMP Saver Account scored two Mozo Experts Choice Awards in the No Strings Saver and Kick Start Savings categories.

Unlike other high interest savings accounts in the market, that require you to deposit a certain amount each month and make no withdrawals, there are no strict conditions in order to receive the competitive 2.55% rate. The only thing you'll have to keep in mind is after the first 4 months, it reverts to 2.10% (however, the good news is this is still fairly competitive).    

Key features:

The AMP Saver account has a standard interest rate of 2.10% and there are no account keeping fees or minimum deposit requirements. New customers will get a bonus 0.45% interest rate for the first 4 months from opening the account.

Interest is calculated daily and paid monthly into the account. There are no minimum balance requirements but you will only get interest on your first $5 million.

You will need to have a linked transaction account to transfer money in and out of the account, though this doesn't have to be an AMP account. You can link to any bank or financial institution.

Who it's good for:

You can apply online and do all your banking online with the AMP Saver account, so this is a good choice for anyone who doesn't have a need for branch access and want great rates on their savings. 

Any catches?

The bonus rate is only available for the first 4 months so keep an eye on rates and move your money around if you can get better rates elsewhere.

How are AMP savings accounts rated by the Mozo community?

Product Type Overall Rating Price Features Service Convenience Trust
7.3

Based on 72
AMP savings accounts reviews

7.0 6.3 7.1 6.8 7.3

Read AMP savings account reviews by the Mozo community

Latest reviews of AMP Saver Account

AMP

AMP Saver Account savings account review

Overall rating   6 / 10

Great, easy to follow.

The staff and account are most helpful. The elderly need a simple account that helps them in their banking.

Full review

The staff and account are most helpful. The elderly need a simple account that helps them in their banking.

    Price   6 / 10

    Features   3 / 10

    Customer service   7 / 10

    Convenience   8 / 10

    Trust   7 / 10

Less

Philomena, New South Wales, reviewed about 1 month ago

AMP

AMP Saver Account savings account review

Overall rating   7 / 10

Easy bank to work with

The online banking website needs to be more user friendly, other than that it is easy to bank with them

Full review

The online banking website needs to be more user friendly, other than that it is easy to bank with them

    Price   7 / 10

    Features   5 / 10

    Customer service   5 / 10

    Convenience   5 / 10

    Trust   7 / 10

Less

Michelle, Western Australia, reviewed almost 3 years ago

AMP

AMP Saver Account savings account review

Overall rating   8 / 10

Friendly.

Love my bank.

Full review

Love my bank.

    Price   8 / 10

    Features   6 / 10

    Customer service   5 / 10

    Convenience   6 / 10

    Trust   6 / 10

Less

Jasmin, Queensland, reviewed almost 3 years ago

AMP

AMP Saver Account savings account review

Overall rating   8 / 10

Trusted brand, helpful staff.

The call centre staff are in Australia and are helpful, the bonus interest rate for 6 months was good.

Full review

The call centre staff are in Australia and are helpful, the bonus interest rate for 6 months was good.

    Price   8 / 10

    Features   8 / 10

    Customer service   8 / 10

    Convenience   8 / 10

    Trust   9 / 10

Less

Louise, Victoria, reviewed almost 3 years ago

AMP

AMP Saver Account savings account review

Overall rating   6 / 10

No good

Better to save with an on line high interest provider.

Full review

Better to save with an on line high interest provider.

    Price   5 / 10

    Features   3 / 10

    Customer service   2 / 10

    Convenience   6 / 10

    Trust   8 / 10

Less

Rodney, Victoria, reviewed over 3 years ago

Mozo may receive a payment from financial providers listed on the site. Customer reviews are in no way affected by any commercial relationships Mozo has with providers. Reviewers may receive a voucher from Mozo in exchange for their review. Vouchers are given to all reviewers who meet our review guidelines regardless of the sentiment of their reviews.

Rates

  • Balances from $0: 2.10% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Balances from $0: 2.55% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Bonus rate for the first 4 months from account opening

Fees

  • $0.00

  • none

  • Unlimited free transactions from mobile app, internet, phone (when linked to transaction account)

  • none

  • none

  • none

  • none

  • none

  • none

  • $0.00

  • $0.00

  • none

Other financial bits

  • $0.00

  • $0.00

  • Monthly

Features

  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

About AMP

AMP is a leading wealth management company operating in Australia and New Zealand, with a rich evolving history spanning 150 years. Its growing banking business in Australia now includes a range of retail products such as home loans, credit cards, savings and accounts and term deposits. Also AMP's range of vehicle insurances are designed to give you more choice and flexibility while providing cover for a comprehensive range of accidents, damage and events.

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