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AMP Saver Account

Interest rate
1.05% p.a.(for $0 to $5,000,000)
Maximum rate
2.00% p.a. (for $0 to $250,000)

Mozo editorial review AMP Saver Account

Last updated: 3 July 2020.

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What's hot
  • Dual 2020 Mozo Experts Choice Award winner
  • 2.00% p.a. introductory interest rate for 6 months
  • 1.05% p.a. ongoing interest rate
  • No account fees
What's not
  • No branch or ATM access
Mozo snapshot

If you’re looking for a simple but savings-savvy place to stash your cash, then the multiple 2020 Mozo Experts Choice Award-winning AMP Saver Account just might do the trick. You’ll be able to take advantage of a competitive 2.00% p.a. introductory bonus interest rate on balances up to $250,000 for the first 6 months of opening the account (for new Saver customers only) and continue to earn a solid 1.05% p.a. standard interest rate after that. Plus, you won't have to worry about paying any pesky ongoing account keeping fees.

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Key features

Winning a 2020 Mozo Experts Choice Award in both the No Strings and Kickstart Savings categories, the AMP Saver Account delivers a no-fuss savings experience helping you get the ball rolling towards making your savings goals a reality.

During the first 6 months of opening this account, you'll score a solid 2.00% p.a. introductory bonus interest rate on balances up to $250,000 (available to new Saver customers only). After 6 months you'll start earning interest at a standard interest rate 1.05% p.a.

Unlike many other savings accounts, this account doesn't have any minimum monthly deposit requirements, so if you’re unable to add to your savings stash one month, then no need to panic! You’ll still earn a great 1.05% p.a. standard interest rate.

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 when connected to an AMP everyday transaction account like the AMP Access Account.

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Who is it good for

Savers who want the flexibility to move their cash around and don’t mind doing it digitally, but also don’t want to their interest rate slashed when doing so could find serious value in the AMP Saver Account. It's also best suited to new customers opening up a new Saver Account, as the bonus offer isn't available if you already have or have had an AMP Saver account.

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Any catches

Just keep in mind that the 2.00% p.a. introductory rate will only last for six months, and if you've got a really big savings stash built up beware, because the bonus rate is only payable on account balances up to $250,000.

Details

Rates and fees information correct as at 4 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 1.05% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Balances from $0: 2.00% p.a.
    Balances from $250,000: 1.05% p.a.
    Balances from $5,000,000: 0.00% p.a.

  • Bonus rate for the first 6 months from account opening on the first $250,000 deposited. For new Saver customers only.

Fees
  • $0.00

  • n/a

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

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • none

  • none

  • none

Customer Reviews

How are AMP savings accounts rated by the Mozo community?

Overall customer rating
7.0/10
Price
7.1/10
Features
6.2/10
Customer service
6.8/10
Convenience
6.7/10
Trust
7.2/10

Latest reviews of AMP Saver Account

  • Overall 5/10
    Poor customer service

    Three days ago (Saturday) I applied online for a business saver account. Yesterday (Monday) mailed by express post application form & certified ID documents (their instruction was to mail them back to a reply paid address (surely they didn't mean for me to mail them back in a plain envelope? Today (Tuesday) I receive an email starting with Hi, (no title, no name, no nothing) asking a question and saying they haven't received my certified ID copies - oh please, should I have flown up and delivered them by hand? Many years I worked for AMP - sad to see this motley email.

    Read full review

    Three days ago (Saturday) I applied online for a business saver account. Yesterday (Monday) mailed by express post application form & certified ID documents (their instruction was to mail them back to a reply paid address (surely they didn't mean for me to mail them back in a plain envelope? Today (Tuesday) I receive an email starting with Hi, (no title, no name, no nothing) asking a question and saying they haven't received my certified ID copies - oh please, should I have flown up and delivered them by hand? Many years I worked for AMP - sad to see this motley email.

    Price
    10/10
    Features
    10/10
    Customer service
    0/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Paul, Victoria reviewed 10 days ago
  • Overall 0/10
    2.26% rate dropped to 2.11%, 2 weeks after opening

    Opened in mid March 2020 with offer of 2.26% for 4 months, but interest paid in April 2020 was only 2.11%. When queried I was told the rate had dropped to 2.11%. However, in April 2020 AMP upgraded the offer to new customers to be 2.26% again, but this time for 6 months. Terrible treatment of a new customer. Avoid them.

    Read full review

    Opened in mid March 2020 with offer of 2.26% for 4 months, but interest paid in April 2020 was only 2.11%. When queried I was told the rate had dropped to 2.11%. However, in April 2020 AMP upgraded the offer to new customers to be 2.26% again, but this time for 6 months. Terrible treatment of a new customer. Avoid them.

    Price
    4/10
    Features
    2/10
    Customer service
    2/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Jamie, Australian Capital Territory reviewed 12 days ago
  • Overall 0/10
    Terrible, terrible bank to bank with.

    I opened 2 x Savings accounts, one for my wife and myself. The bonus 4 months interest rate was up on the 14th March 2020. I contacted them on the 14.03.20 asking to withdraw my money. They informed me that I can’t do that myself only they could transfer it to another bank and it would take 3 business days (earning little interest). So that meant for 3 days I didn’t receive any interest on a considerable amount of money. 4 days had passed still no money transferred back to my regular bank. Contacted them again, they said they tried to ring me which was a lie as we all know mobiles phones show call history. Then they said they tried to email me, again another lie as surprise surprise no email. After demanding my money as it is only earning minimal interest they said it will be another 3 business days. That will make 8 days to withdraw my funds. We are in a pandemic with Coronavirus and I need money to live on. DO NOT MAKE THE MISTAKE I MADE AND BANK WITH AMP.

    Read full review

    I opened 2 x Savings accounts, one for my wife and myself. The bonus 4 months interest rate was up on the 14th March 2020. I contacted them on the 14.03.20 asking to withdraw my money. They informed me that I can’t do that myself only they could transfer it to another bank and it would take 3 business days (earning little interest). So that meant for 3 days I didn’t receive any interest on a considerable amount of money. 4 days had passed still no money transferred back to my regular bank. Contacted them again, they said they tried to ring me which was a lie as we all know mobiles phones show call history. Then they said they tried to email me, again another lie as surprise surprise no email. After demanding my money as it is only earning minimal interest they said it will be another 3 business days. That will make 8 days to withdraw my funds. We are in a pandemic with Coronavirus and I need money to live on. DO NOT MAKE THE MISTAKE I MADE AND BANK WITH AMP.

    Price
    8/10
    Features
    5/10
    Customer service
    0/10
    Convenience
    0/10
    Trust
    0/10
    Less
    Rod, New South Wales reviewed 12 days ago
  • Overall 7/10
    Great savings rate in a great app.

    No Osko/instant transfers to everyday account when banks such as NAB/Westpac, etc. have it. Seems odd not to have it in this day and age.

    Read full review

    No Osko/instant transfers to everyday account when banks such as NAB/Westpac, etc. have it. Seems odd not to have it in this day and age.

    Price
    10/10
    Features
    5/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Brandon, Victoria reviewed 3 months ago
  • Overall 0/10
    Bad.

    Different people telling me different things. They set up a withdrawal limit without my knowledge. When wanting to withdraw all of my funds they definitely did not make it easy, had to jump through so many hoops to get this done. I would not recommend them to anyone.

    Read full review

    Different people telling me different things. They set up a withdrawal limit without my knowledge. When wanting to withdraw all of my funds they definitely did not make it easy, had to jump through so many hoops to get this done. I would not recommend them to anyone.

    Price
    6/10
    Features
    0/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    2/10
    Less
    Jules, Queensland reviewed 8 months ago
AMP

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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1.25% p.a. (for $0 to $5,000,000)

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Newcastle Permanent

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0% p.a.(for $0 and over)

2.00% p.a. (for $0 and over)

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ANZ

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0.01% p.a.(for $0 and over)

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