AMP Bank GO has launched a leading 4.20 % p.a. variable rate on business balances up to $250,000 (3.75% p.a. on balances between $250,000 - $5 million), with zero fees, no minimum balance, no deposit or withdrawal rules to earn interest.
The new offer strips away the “bonus-rate traps” that leave most savers short-changed, giving Australia’s 2.6 million small businesses a simple, powerful way to make every dollar work harder.
The ACCC has previously found that due the conditional nature of bonus rates offered by banks, many Australians miss out on earnings from their savings. Their report showed that the interest customers receive can be considerably lower than the headline rates suggested, with 71% of bonus interest accounts not receiving the bonus rate1.
A leading ‘no catches’ rate for everyday savers
Everyday Aussie savers will have access to an equally competitive offer: 4.50% p.a. on balances up to $250,000 (3.75 % p.a. on $250,000–$5 million), also with no fees or minimum deposits or withdrawal limitations.
Key features of the new offer
- Parking $10,000 at 4.20% p.a. earns $420 in one year – cash that can fund stock, wages or a rainy-day buffer for business owners.
- Instant digital set-up in the AMP Bank GO app: open a savings account linked to an Everyday Account or Everyday Business Account in minutes.
- Unique daily interest-tracking capability displayed in-app provides real-time visibility, supporting cash-flow management.
- Personalised Saving “Spaces” keep GST, BAS or wages quarantined so bills never collide with growth plans.
- Balances up to $250,000 are protected by the Australian Government’s Financial Claims Scheme.
- Savings housed within AMP Bank GO’s leading scam and fraud protection infrastructure.
John Arnott, Director AMP Bank GO said:
“Small-business owners and everyday savers alike can now earn a great return on their savings without any of the usual catches.
“There are none of the catches that have become typical in many savings accounts today, and we’re giving customers rates that reward everyday savings dollars, every day – while letting business owners tap their savings whenever cash flow demands it. That way, they never have to choose between liquidity and a market-leading return.
“And with our industry-first security – from ‘numberless’ cards to video-selfie ID checks – AMP Bank GO keeps that hard-earned cash safe so customers can focus on running their businesses.”
Scam & fraud protection – built into AMP Bank GO
AMP Bank GO includes a range of industry-leading safeguards for customers, including:
- Australia’s first ‘numberless’ debit card for small business accounts – no 16-digit number on the plastic for customers, preventing compromised card fraud.
- Selfie-video identity checks at sign-up, backed by human review to help prevent mule accounts from ID fraud.
- In-app card controls and biometric login so owners can lock, unlock or set spending limits in seconds.
AMP Bank GO
AMP Bank's new mobile experience, AMP Bank GO, gives small businesses and everyday Australians a new way to spend, save and manage their money while on-the-go. Built from the ground-up using the very latest in secure mobile banking tech, AMP Bank GO is full of simple, smart features that move with customers.
AMP Bank Go continues to add the features and capabilities most valued by everyday Aussies and micro business owners.
AMP Bank GO complements AMP Bank's existing offering, which provides customers with highly competitive home loans and savings accounts through direct and intermediary channels.
For more information about AMP Bank GO’s savings accounts visit AMP's website.
The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517. This information is provided by AMP Bank Limited. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you.
AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice.
Information including interest rates is correct as at 17/07/2025 and is subject to change without notice. Terms and conditions apply.
A target market determination for these products is available here.
Any application is subject to AMP Bank's approval.
For accounts with BSB number 939 900, that you access via AMP Bank GO, the Terms and conditions that apply are available here.