Features

Get rewarded for saving more

Earn a total ongoing variable rate of up to 1.16% pa1 by depositing $250 a month into your AMP Saver Account.

No monthly fees

Every penny counts, so we don’t charge any monthly management fees on your AMP Saver Account.

Linked to a transaction account

Get access to a Visa Debit Card and digital wallet by opening an AMP Access Account at the same time.

Product inclusions

What the product includes

  • A competitive savings rate
  • Easy online access to your money
  • The requirement to save at least $250 each month to access the bonus interest rate
  • The option to link your savings account to an everyday transaction account

What the product doesn't include

  • Access to the bonus interest rate if you save less than $250 each month
  • The ability to use the account for direct debits
  • A cheque book, Bank@Post or the option to use a digital wallet
  • No restriction on pay anyone amounts2

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 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 April:

  • You’ll earn your applicable bonus interest rate for May, on top of your applicable standard variable rate, with interest calculated daily.
  • You’ll receive the interest payment into your account on or before 10 June.

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 May.

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

How can I view and track my savings?

You can view and track your savings through My AMP. It is an easy, convenient and secure way to do your banking online. Using My AMP you can access and manage all your accounts in one place, when and where it suits you either on your computer or through the My AMP app.

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

Yes, like an AMP Access Account It gives you access to a Visa Debit card and the ability to make mobile payments with Apple Pay, Samsung Pay or Google Pay3 . You’ll also get rebated ATM fees. Apply for both accounts at the same time in the online AMP Saver Account application form.

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.

What do I need to apply?

Applying online is easy and will take you about five minutes to complete. You’ll need 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.

Are my savings secure?

The Australian Government guarantee protects combined deposits up to $250,000 per customer in the unlikely event that a financial institution fails.

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. 

Important information

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.  

 

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.

2 Increase your pay anyone limit to up to $25,000 online, or up to $250,000 per recipient account per day via a written, signed request.

3 Apple Pay works with iPhone 6 and later in stores, apps and websites in Safari; with Apple Watch in stores and apps; with iPad Pro, iPad Air 2 and iPad mini 3 and later in apps and websites; and with Mac in Safari with an Apple Pay enabled iPhone 6 or later or Apple Watch. For a list of compatible Apple Pay devices, see https://support.apple.com/en-us/HT208531.

Apple, the Apple logo, Apple Pay, Apple Watch, Face ID, iPad, iPhone, iTunes, Mac, Safari, and Touch ID are trademarks of Apple Inc., registered in the U.S. and other countries. iPad Pro is a trademark of Apple Inc.

Visit Samsung to check devices compatible with NFC point of sale terminals for contactless transactions.

A target market determination for this product is available at www.amp.com.au/bank/tmd