Features

Be rewarded for saving

Deposit at least $250 a month into your AMP Saver Account to earn a total ongoing variable rate of up to 1.16% pa1.

Enjoy no monthly fees

Relax knowing you won’t be charged any monthly account management fees on your AMP Saver Account and can make unlimited deposits and withdrawals at no extra cost.

Link to a transaction account

Open an AMP Access Account at the same time you open your AMP Saver Account if you’d like access to a Visa Debit card, Apple Pay and Google Pay, as well as rebated ATM fees.

Rates & eligibility

If you’re eligible for a bonus rate in a calendar month, you’ll earn the bonus interest during the following month on top of your standard variable rate, and it will be paid the month after that.

Standard, bonus and total rates are variable and subject to change without notice.

Effective date 16 September 2021.

AMP Saver Accounts opened from 1 April 2021

0.01% pa1 standard rate

This is the ongoing standard variable rate on all balances.

+ 1.15% pa1 Deposit Bonus Interest Rate

This is the ongoing bonus variable rate when you deposit $250 a month. Payable on balances up to $250,000.

= 1.16% pa1 total rate

This is the total rate which applies to balances up to $250,000, made up of the standard rate and the Deposit Bonus Interest Rate (subject to eligibility).

AMP Saver Accounts opened before 1 April 2021

0.76% pa1 standard rate

This is the ongoing standard variable rate on balances up to $250,000, and 0.01% pa1 thereafter.

+ 0.40% pa1 Deposit Bonus Interest Rate

This is the ongoing bonus variable rate when you deposit $250 a month. Payable on balances up to $250,000.

= 1.16% pa1 total rate

This is the total rate which applies to balances up to $250,000, made up of the standard rate and the Deposit Bonus Interest Rate (subject to eligibility).

Existing AMP super, pension or investment account holders

An added bonus of 0.20% pa1

If you hold an eligible super, pension or investment product, you may also be eligible for an additional Wealth Bonus Interest Rate of 0.20% pa on balances up to $250,0001

This will be paid on top of your applicable standard and Deposit Bonus Interest Rate, taking your total interest payable to 1.36% pa1.

To get the added Wealth Bonus Interest Rate, you must be able to view both your AMP Saver Account and AMP Wealth product together in the same My AMP login.

For more details, including a list of eligible super, pension or investment products, check out our eligibility info page.

 

How is interest calculated?

If you’re eligible for a bonus rate in a calendar month, you’ll earn the bonus interest during the following month on top of your standard rate and it will be paid the month after that.

For example, if you deposit $250 into your AMP Saver Account in October:

  • You’ll earn your applicable bonus interest rate for November, on top of your applicable standard variable rate, with interest calculated daily.
  • You’ll receive the interest payment into your account on 1 December.

In this example, you’ll receive 1.16% pa for the first $250,000 of your account balance and 0.01% pa on any remaining balance over $250,0001. As the interest rate applicable to your closing balance is updated in My AMP on the following business day, you would see any changes to your applicable interest rate (standard variable rate plus the applicable bonus interest rate) from 2 November.

Documents & downloads

Get what you're saving for faster

Apply for an AMP Saver Account in under 5 minutes
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Access your accounts online with My AMP
My AMP is an easy, convenient and secure way to do your banking online and manage your savings. With My AMP you can access and manage all your accounts from one place, whenever and wherever it suits you – using desktop or the My AMP app.

FAQs

Are my savings secure?

Combined deposits of up to $250,000 per customer are protected by the Australian Government in the unlikely event that a financial institution fails.

Can I link my AMP Saver Account to an everyday transaction account?

You can link to a transaction account like our AMP Access Account if you’d like access to a Visa Debit card, Apple Pay and Google Pay, as well as rebated ATM fees. You can also apply for both accounts at the same time in the online AMP Saver Account application form.

How can I view and track my savings?

My AMP provides an easy, convenient and secure way to do your banking online. With My AMP you can access and manage all your accounts in the one place, whenever and wherever it suits you, using desktop or the My AMP app.

What do I need to apply?

Applying online is easy and will take you about 5 minutes to complete. All you need is a valid form of identification, and your tax file number if you wish to provide it. Providing this will prevent you from paying unnecessary tax on any interest you might earn.

What are the fees?

There are no ongoing account management fees, including for regular deposits or withdrawals. There are some fees and charges for special services that may apply, such as a duplicate statement fee. Read our Deposit product fees and charges guide for more information.

Can I set up a direct debit?

Direct debits are not permitted on savings accounts. If you’d like to set up a direct debit, you can do so from a linked transaction account. Read our Account Access and Operating Terms and Conditions for more information. 

Contact us

Important information

1 Up to 1.16% pa ongoing variable rate on balances up to $250,000 and is subject to change without notice. For AMP Saver Accounts opened from 1 April 2021, offer is limited to one account per person. For any portion of the balance over $250,000 and up to $5,000,000 the interest rate reverts to the AMP Saver Account standard rate only. The maximum ongoing balance per customer name is $5,000,000. To learn more about the AMP Saver Account, see the product page.

The product issuer of the AMP Saver Account is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517. Information including interest rates is subject to change without notice. Terms and conditions apply. Fees and charges are payable. Any application is subject to AMP Bank’s approval. Before making a decision about this product you should consider the AMP Saver Account terms and conditions available from AMP at amp.com.au/bankterms or by calling 13 30 30.

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.