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AMP Term Deposit

In partnership with AFSL 459645
About Cashwerkz

This Term Deposit offer is available to Mozo customers from Cashwerkz, the secure online marketplace for cash investments, regulated by ASIC (AFSL 459645). You do not pay a fee to use Cashwerkz. Your Term Deposit funds will be deposited directly with your chosen financial institution, in your name, and the funds are never held by Cashwerkz.

Best rate (up to 1 year)
1.65% p.a.6 months
Interest paid to another bank?
yes
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Mozo editorial review AMP Term Deposit

Last updated: 21 April 2020.

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What's hot
  • Multiple 2020 Mozo Experts Choice Award winner
  • 1.65% interest for 6 month terms (balances from $25,000 to $1,000,000)
  • Interest can be paid to another bank account
What's not
  • 31 days notice is required for customers making early withdrawals
Mozo snapshot

Need a safe place to stash your savings without sacrificing on interest rates? AMP’s Term Deposit might just be your stable savings solution, offering a range of solid interest rates up to 1.65% for 6 months.

Plus the Mozo judges consider it one of the best term deposits around - awarding it 2020 Mozo Experts Choice Awards in two separate categories including for best Short Term Deposit and best SMSF Term Deposit. 

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Key features

Whether you’re saving up for a specific goal or just need a stable place keep your savings stash growing, AMP could give you the interest rate certainty you need with one of its term deposits. And with terms starting from as short as 1 month all the way up to five years, savers will be able to choose the term that fits their saving needs.

When it comes to interest rates, AMP offer a two tier system for most of their Term Deposits (with the exception of 1 and 2 month terms). The first tier is for balances between $5,000 and $24,999, while the second is for balances between $25,000 to $5 million. 

For example, for AMP’s 6 month Term Deposit, savers will receive an interest rate of 1.45% for balances between $5,000 and $24,999 or an interest rate of 1.65% for balances between $25,000 and $1 million. 

AMP even gives savers the convenience of being able to have their interest paid into an account from another bank. Just bear in mind that AMP require customers to provide at least 31 days notice for early withdrawal and the account does have automatic rollover, which means savers will need to let them know if they don’t want to keep their term deposit open.

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Who is it good for

AMP’s Term Deposits could be a great option for savers looking for a secure and rewarding place to grow balances over $5,000 or $25,000.

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Any catches

Because term deposits are designed to come to maturity, if you do need to make an early withdrawal AMP will adjust the interest you receive down based on the portion of the term you’ve completed. You’ll also need to give them at least 31 days advance notice if you plan to take your funds out early.

Details

Rates and fees information correct as at 26 May 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
  • 1.10% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($25,000 to $5,000,000)

  • 1.10% p.a. ($5,000 to $24,999)

    1.30% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($5,000 to $24,999)

    1.40% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($5,000 to $24,999)

    1.40% p.a. ($25,000 to $5,000,000)

  • 1.45% p.a. ($5,000 to $24,999)

    1.65% p.a. ($25,000 to $5,000,000)

  • 1.25% p.a. ($5,000 to $24,999)

    1.45% p.a. ($25,000 to $5,000,000)

  • 1.25% p.a. ($5,000 to $24,999)

    1.45% p.a. ($25,000 to $5,000,000)

  • 1.25% p.a. ($5,000 to $24,999)

    1.45% p.a. ($25,000 to $5,000,000)

  • 1.25% p.a. ($5,000 to $24,999)

    1.45% p.a. ($25,000 to $5,000,000)

  • 1.25% p.a. ($5,000 to $24,999)

    1.45% p.a. ($25,000 to $5,000,000)

  • 1.25% p.a. ($5,000 to $24,999)

    1.45% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($5,000 to $24,999)

    1.40% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($5,000 to $24,999)

    1.40% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($5,000 to $24,999)

    1.40% p.a. ($25,000 to $5,000,000)

  • 1.20% p.a. ($5,000 to $24,999)

    1.40% p.a. ($25,000 to $5,000,000)

Other financial bits
  • $5,000.00

  • $5,000,000.00

Features
  • direct credit, cheque

  • yes

  • yes

  • 31 days notice required if customers want to withdraw their funds before the maturity date.

  • none

*Different interest rates apply to different amounts or different interest payment frequencies.

Customer Reviews

This product is not currently reviewed.

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