AMP Bank GO lifts no-catch savings rate as households and small business owners look for simple, high returns

Rates for variable home loans to increase by 0.25 per cent

AMP Bank GO to increase no catch everyday savings rate to 5.10 per cent p.a.

Following the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25 per cent, AMP Bank is changing interest rates forcustomers.

Interest rates for all variable home loans will increase by 0.25 per cent, effective 11 May 2026.

AMP Bank is also increasing rates for AMP Bank GO’s savings products, lifting the rate by 0.25 per cent to 5.10 per cent p.a. for Personal Save balances and to 4.75 per cent p.a. for Business Save balances. Both rates apply for balances up to $500,000¹, with no fees, no minimum deposits or withdrawal limitations to earn interest. The changes will also take effect on 11 May 2026.

Sean O’Malley, AMP Bank’s Group Executive, said: 

“Higher rates are difficult for many borrowers, and we know household budgets are under increasing pressure. Customers who need support should contact us early - we’re here to help.

“But rising rates should also work fairly for savers. AMP Bank GO is giving personal customers and small business owners a strong savings rate without asking them to jump through hoops to earn it.

“Many savings accounts still make customers meet a list of conditions before they get the headline rate. We think people deserve something simpler - a competitive rate, no catches, and no fine print gymnastics.”

We understand that financial challenges can be overwhelming, and we’re here to help. You can find more information about our Financial Hardship support options here, or speak with our team on 13 30 30. AMP Bank GO customers can also call 1800 950 105.

¹ 5.10% p.a. on AMP Bank GO Save account balances up to $500,000 (4.25 % p.a. on $500,000–$5 million),and businesses will earn a competitive 4.75 % p.a. on AMP Bank GO Business Save balances up to $500,000 (4.25% p.a. on balances between $500,000 - $5 million).

^{The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517}