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.
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.