Features

Competitive market rates

Be sure of the interest you’ll earn and lock in a great rate. The minimum deposit required to open an AMP Bank Term Deposit is $5,000.

Fee-free and flexible

Choose from terms between 30 days to five years and multiple interest payment options. No monthly fees, and it’s simple to roll over.

Government guarantee

The Australian Government guarantee protects combined deposits up to $250,000 per customer if a financial institution fails.

Product inclusions

What the product includes

  • A competitive savings rate
  • The requirement to invest a minimum of $5,000
  • Locking business savings away for a set time
  • The certainty of a guaranteed return

What the product doesn't include

  • The option to invest less than $5,000
  • Easy access to your savings
  • The option to change your timeframe
  • A cheque book, Bank@Post or Visa Debit card 

How term deposits work

How term deposits work

If you’re planning a major business purchase or have received a lump sum of money you’re keen to put away, a term deposit might be suitable for you.

It can be an ideal way to save for a specific goal, as it enables you to invest and get a guaranteed return based on the amount you invest and the interest rate on the day you open your term deposit until the day it matures.

Leaving your money in a transaction account generally earns you little or no interest. You may also be tempted to spend it. Instead, consider putting those funds away for a set period of your choice that pays you a guaranteed return at the end.

Whether you want to purchase a new asset for your business or have the peace of mind you have cash stored away for future opportunities, a term deposit could help you achieve your goals faster.

It's important to think carefully when choosing your term duration as you need to provide 31 days' notice if you want to access the money earlier than the selected term (costs apply to break your term deposit early). If you choose to continue with your term deposit once it matures (rolling over), the interest rate on the day the roll-over occurs will apply, this may be  lower, the same as or higher than the interest rate from your initial term. Talk to a financial adviser to see what kind of saving strategy works best for your business.

Rates, fees & eligibility

Effective date 20 September 2021

Term
$5,000 to less than $25,000
$25,000 to less than $100,000
$100,000 to $500,000 >$500,000 to $1,000,000 >$1,000,000 to $5,000,000
1 month   0.10% pa
0.10% pa
0.10% pa
0.10% pa
2 months   0.20% pa
0.20% pa 0.20% pa 0.20% pa
3 months(i) 0.25% pa
0.30% pa 0.30% pa 0.30% pa 0.30% pa
4 months(i) 0.45% pa 0.50% pa 0.50% pa 0.50% pa 0.50% pa
5 months(i) 0.60% pa 0.65% pa 0.65% pa 0.65% pa 0.65% pa
6 months(i) 0.60% pa
0.65% pa 0.65% pa 0.65% pa 0.65% pa
7 months(i) 0.60% pa 0.65% pa 0.65% pa 0.65% pa 0.65% pa
8 months(i)
0.70% pa 0.75% pa 0.75% pa 0.75% pa 0.75% pa
9 months(i) 0.70% pa 0.75% pa 0.75% pa 0.75% pa 0.75% pa
10 months(i)
0.70% pa 0.75% pa 0.75% pa 0.75% pa 0.75% pa
11 months(i) 0.75% pa 0.80% pa 0.80% pa 0.80% pa 0.80% pa
1 year(i) 0.75% pa 0.80% pa 0.80% pa 0.80% pa 0.80% pa
13 months(i),(ii) 0.75% pa 0.80% pa 0.80% pa 0.80% pa 0.80% pa
18 months(i),(iii) 0.75% pa 0.80% pa 0.80% pa 0.80% pa 0.80% pa
2 years(i) 0.75% pa 0.80% pa 0.80% pa 0.80% pa 0.80% pa
3 years(i)
0.95% pa 1.00% pa 1.00% pa 1.00% pa 1.00% pa
4 years(i) 0.95% pa 1.00% pa 1.00% pa 1.00% pa 1.00% pa
5 years(i) 0.95% pa 1.00% pa 1.00% pa 1.00% pa 1.00% pa
TD held as security Please contact us on 13 30 30 for interest rates applicable for Term Deposits held as security for loans.

No account-keeping fees apply to AMP Bank’s Term Deposits. Instead you will earn interest paid at interims you select or on maturity, depending on the term you choose for your term deposit. You may open as many term deposits as you like each with a different term or invested amount. You will receive your interest earnings at the end of the term or, if you would like to be paid more frequently, at a slightly lower rate on terms of one year or more. You can receive those earnings every month, every three months or every six months instead of annually. For example, here are the interest payment options on terms of one year or more:

Interest rate payment frequency
Interest rate conditions
Every month Interest rates for monthly interest payments are 0.20% pa less than the standard rates above 
Every three months Interest rates for three-monthly interest payments are 0.10% pa less than the standard rates above
Every six months Interest rates for six-monthly interest payments are 0.05% pa less than the standard rates above

Notes

(i) Special Offer only. Other bonus margins cannot be applied to this rate.
(ii) Only available where interest is paid electronically into a nominated account with AMP Bank or another financial institution and no bank cheque is issued. Where interest is paid annually, the first interest payment is made after 12 months and the second interest payment is made at maturity.
(iii) Quarterly and half-yearly interest payment options are not available.

For full details, please read the Deposit products fees and charges guide.





Eligibility

 

  • Companies or organisations (excluding financial institutions)
  • Trusts
  • SMSF
  • Government entities
  • Charities
  • Sole traders or partnerships.

AMP Corporate Superannuation customers
A bonus interest rate of up to 0.10% per annum is available for AMP Corporate Superannuation customers. This bonus excludes special offers and term deposits with balances of $1,000,000 and greater. Deposits over $5,000,000 are at our discretion.

How to apply

Sole Trader Accounts

You can apply online. It takes around 10-15 mins to complete.

Apply online

Other entity types

To access this form, please save it to your desktop and then complete it. As it is a functional pdf form, it will unfortunately not work on a mobile device.

Download pdf

FAQs

What are the fees?

There are no ongoing account management fees for a Business Term Deposit. If you want to access your money before the end of your term, fees may apply. Read the Deposit product fees and charges guide for more information.

How can I apply?

If you’re a sole trader, you can apply online and it will take between 10-15 minutes to complete. You’ll need valid forms of identification and your bank account details for the initial deposit.  Other entities should download and complete the appropriate application form.

Are my savings secure?

The Australian Government guarantee protects combined deposits up to $250,000 per customer.

Can I set up a direct debit?

Direct debits are not permitted on term deposits. Read our Account Access and Operating Terms and Conditions for more information.

Contact us

Monday to Friday: 8am – 8pm (Sydney time)
Saturday & Sunday: 9am – 5pm (Sydney time)

Important information

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

It’s important to consider your 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. Information including interest rates is subject to change without notice.

Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable.

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. All information on this website is subject to change without notice.

AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice

A target market determination for these products is available on our TMD page.

Information including interest rates is correct as at 17 September 2021 and is subject to change without notice.