Great ongoing rate
Benefit from a competitive, ongoing standard variable interest rate of 0.50% pa available on all credit balances.
Fee-free and flexible
Easily manage your money online, via the My AMP app and telephone banking, plus no monthly fees and no minimum deposit.
Government guarantee
The Australian Government guarantee protects combined deposits up to $250,000 per customer if a financial institution fails.
Product inclusions
Rates, fees & eligibility
Rates & fees
Effective 16 December 2021
| Account balance | Interest rate |
| Standard rate for all balances | 0.50% pa |
Bonus interest rate for new accounts from first day of month, after the account is opened* |
|
| Standard variable rate plus 0.55% for balances up to $1 million | 1.05% pa |
The AMP Business Saver Account earns interest calculated daily and paid monthly.
There are no ongoing fees including for regular deposits or withdrawals. Some fees and charges for special services may apply, such as a duplicate statement fee. Read our Deposit product fees and charges guide for more information.
Deposit into your account as often as you like using online, mobile or phone transfers from a linked transaction account. This can be an AMP Access Account or another external account.
Interest applies to credit balances only. Interest rates are variable and subject to change without notice. Deposits over $5,000,000 are at our discretion. For full details, please read the Deposit product terms and conditions.
Eligibility
- Companies or organisations (excluding financial institutions)
- Non-SMSF trusts
- Government entities
- Charities
- Sole traders or partnerships.
Talk to a financial adviser to see what kind of saving strategy works best for your business.
Bonus interest calculations
Effective Interest Rate for balances over $1,000,000
When your account balance is over $1,000,000, you will see an Effective Interest Rate displayed when you view your interest rate in My AMP or the My AMP app. The Effective Interest Rate is calculated based on a Weighted Bonus Interest Rate. The Effective Interest Rate is applied to the entire balance of your AMP Business Saver Account.
How is interest calculated on my AMP Business Saver Account when my balance is over $1,000,000?
If you hold an AMP Business Saver Account and you are eligible for the Bonus Interest Rate and your AMP Business Saver Account balance is over $1,000,000 this is how we calculate interest that will be applied to your account:
| Interest earned calculation | Effective Interest Rate | Weighted Bonus Interest Rate |
| (Account Balance x effective interest rate x number of days )/365 | Weighted Bonus Interest Rate + standard rate | (Bonus Interest Rate x $1,000,000 )/(Account balance) |
The Weighted Bonus Interest Rate is applied to the entire balance of your AMP Business Saver Account and reflects that the Bonus Interest Rate is only for the first $1,000,000 balance of your AMP Business Saver Account. The Weighted Bonus Interest Rate is calculated to two decimal places (rounded to the nearest number, unless the value of the Weighted Bonus Interest Rate at the third and subsequent decimal places is exactly 0.005, then it is rounded to the nearest even number).
Worked example of interest calculation when Business Saver Account balance is over $1,000,000
1.1450% is rounded to the nearest even number 1.14%
1.1550% is rounded to the nearest even number 1.16%
If you are eligible for the Business Saver bonus interest rate, and the Standard Interest Rate is 0.50% pa, the Bonus Interest Rate is 0.25% pa, and your balance is $3,000,000 at the close of business for every day of the month of June, you will see an Effective Interest Rate shown as 0.58% pa.
| Weighted Bonus Interest Rate | Effective Interest Rate | Interest earned |
| (0.25% x $1,000,000 )/$3,000,000 = 0.0833% (this is rounded to 0.08%) |
0.08% + 0.50% = 0.58% | ($3,000,000 x 0.58% x 30)/365 = $1,430.14 |
How to apply
Australian Registered Private & Publicly Listed Companies
Open an account for Australian proprietary companies
Sole Trader Accounts
To access this form:
1. Right-click the link
2. Select 'Save link as...' and save it to your desktop
3. Go to your desktop and open the pdf in Adobe Acrobat
4. You will then be able to access and complete the form.
As it is a functional pdf form, it will unfortunately not work on a mobile device.
Right-click this link to save the pdfOther entity types
To access this form:
1. Right-click the link
2. Select 'Save link as...' and save it to your desktop
3. Go to your desktop and open the pdf in Adobe Acrobat
4. You will then be able to access and complete the form.
As it is a functional pdf form, it will unfortunately not work on a mobile device.
Right-click this link to save the pdf
FAQs
What are the fees?
There are no ongoing account management fees. Some fees and charges for special services may apply, such as a duplicate statement fee. Read the Deposit product fees and charges guide for more information.
How can I apply?
If you’re an Australian company or unregulated trust, you can apply online, and it will take 10-20 minutes to complete. Other entities should download and complete the appropriate application form.
Talk to a financial adviser to see what kind of saving strategy works best for your business.
Are my savings secure?
The Australian Government guarantee protects combined deposits up to $250,000 per customer.
Can SMSFs open a business saver?
SMSFs are not eligible. However, they can apply for an AMP SuperEdge Saver Account.
Contact us
Mon - Fri: 8am – 8pm (AEST)
Sat & Sun 9am – 5pm (AEST)
Lost / Stolen Cards: 24 hours / 7 days a week
What you need to know
It’s important to consider your particular circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account.
This information is provided by AMP Bank Limited. Read our Financial Services Guide 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. All information on this website is subject to change without notice.
All banking products are issued by AMP Bank Limited ABN 15 081 596 009, AFSL and Australian Credit Licence 234517.
Information including interest rates is correct as at 15 December 2021 and is subject to change without notice. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30.
A target market determination for this product is available at www.amp.com.au/bank/tmd
* If you open a new AMP Business Saver Account and you have not held an AMP Business Saver Account in the last two years, you'll earn a bonus of 0.55% pa on top of the AMP Business Saver Account Standard Rate during the Bonus Period. The Bonus Period begins the first day of the month after the account is opened, and is active for six months. Bonus Rate is payable on account balances of up to $1 million per customer. Bonus rate and Standard rate are both variable rates and subject to change.
1 Pay anyone limit of $25,000 can be requested via My AMP, limits up to $250,000 available via signed written request.