Dual wins for AMP in Mozo Experts Choice Deposit Awards 2019
It’s that time of year again. The sixth Mozo Experts Choice Awards are well underway and our office is abuzz as we announce the top products in Australian banking.
This year AMP performed superbly, winning the title of Small Business Savings Bank of the Year and SMSF Savings Bank of the Year.
The bank has received its fair share of accolades from us in the past for its savings accounts, but it hadn’t swept so many categories like it managed to do this time around. This year saw it win in the Kickstart Savings, No Strings Savings, Small Business No Strings Savings, Term Deposit, SMSF Term Deposit, and Small Business Term Deposit categories.
Mozo’s Data Manager, Peter Marshall, said “The Experts Choice judges assess products on the value they deliver to customers, and with extremely competitive rates across a wide range of products for both businesses and SMSFs, AMP really stood out from the pack.”
So in view of its multiple wins, we decided to shine a spotlight on AMP and a selection of the winning products.
Kickstart Savings & No Strings Savings - AMP Saver Account
AMP Bank - AMP Saver Account
- 2.55% bonus rate for first 4 months
- 2.10% standard interest rate
- No account keeping fees
The AMP Saver Account took home two awards this year. Not only was it recognised in the No Strings Savings category for its competitive 2.10% interest rate, but the bonus 0.45% interest offered in the first 4 months helped it win in the Kickstart Savings category too. This recognises savings accounts that offer customers the highest return on their savings over a short period of time, and the AMP Saver Account’s total interest of 2.55% is sure to do just that.
Read our full review of the AMP Saver Account.
Small Business No Strings Saver - Business Saver Account
AMP Bank - Business Saver Account
- 1.80% interest rate
- No account keeping fees
- Unlimited transactions via phone or internet
Among business savings accounts without any strings attached, the AMP Business Saver Account was a clear standout. Not only does it offer a high 1.81% variable interest rate, it ticks a number of other boxes too, including zero account fees and unlimited phone and internet transactions. For anyone with big plans for their business, this one warrants serious consideration.
Read our full review of the AMP Business Saver Account.
Term Deposit, SMSF Term Deposit, Small Business Term Deposit - AMP Term Deposit
AMP Bank - Term Deposit
- 2.75% interest for 6 month terms (balances over $25,000)
- 3.00% interest for 5 year terms (balances over $25,000)
- Interest can be paid to another bank account
AMP’s Term Deposit scored big this year, nabbing wins in the Term Deposit, SMSF Term Deposit and Small Business Term Deposit categories. This one gives savers plenty of options, with terms ranging from 1 month to 5 years, and when it comes to value it certainly delivers. Interest rates start at 1.85% and range all the way up to 3.00% if you’ve got $25,000 to put away for 5 years.
Read our full review of the AMP Term Deposit.
Now in their sixth year, the Mozo Experts Choice Awards take a look at all the banking products in our extensive database and reward the ones that stand out for their excellent value. Head over to our 2019 Mozo Experts Choice Awards page to see the full list of winners.
* Different interest rates apply to different amounts or different interest payment frequencies.
^See information about the Mozo Experts Choice Term Deposit Awards
Mozo provides general product information. We don't consider your personal objectives, financial situation or needs and we aren't recommending any specific product to you. You should make your own decision after reading the PDS or offer documentation, or seeking independent advice.
While we pride ourselves on covering a wide range of products, we don't cover every product in the market. If you decide to apply for a product through our website, you will be dealing directly with the provider of that product and not with Mozo.