AMP Saver Account
Reach your savings goals sooner
AMP Bank Term Deposit
Watch your savings grow at competitive term deposit rates.
AMP Bett3r Account
Budget less. Live more.Effective 1/04/2021 0.10% paStandard interest rate on Pay & Save accountsUp to 0.75% pa
With Bett3r Rewards Bonus Interest Rate. Conditions apply, refer to link to Bett3r Rewards below
Access your funds easily with a transaction account
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How do you calculate interest earned on a savings account?
Interest is worked out as a percentage of the money you have in your savings account. You can work it out by taking the bank’s current interest rate and applying it to the balance with the frequency applied to the account. This is usually daily, weekly or monthly.
What is a bonus (honeymoon) interest rate?
Some banks offer a bonus rate for new customers for a limited time, after which it moves to the standard variable interest rate.
What is compound interest and how is it calculated?
Compound interest is the interest you get on:
- The money you initially deposited (the principal) and
- The interest that has accumulated on your principal in previous periods.
For example, if you deposit $1,000 into your account for 10 years at 1.00% pa (compounded monthly) and make no additional deposits or withdrawals, you’ll have earnt $105 compound interest at the end of the 10 years compared to $100 simple interest.
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.