Features

Great ongoing rate

Benefit from a competitive, ongoing standard variable interest rate of 0.65% 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.

Easy and efficient

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
  • Variable bonus rate for eligible new customers
  • Easy online and phone banking
  • The option to link to a cash hub account held by your SMSF like SuperEdge Cash or another external account
  • Quick access to your savings

What the product doesn't include

  • A Visa Debit card, Bank@Post or digital wallet facilities
  • Restrictions on pay anyone amounts

Rates, fees & eligibility

Rates & fees

Effective 20 June 2022

Standard rate

 Account balance Interest rate
 Standard rate for all balances 0.65% pa

Bonus interest rate for new accounts from first day of month, after the account is opened*
Standard variable rate plus 0.90% pa for balances up to $1million  1.55% pa

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. 

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 SuperEdge Cash 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

 

You must own an SMSF to be eligibal for an AMP Superedge Saver Account.

Talk to a financial adviser to see what kind of saving strategy works best for your SMSF.

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 SuperEdge Saver Account.
 

How is interest calculated on my AMP SuperEdge Saver Account when my balance is over $1,000,000?

If you hold an AMP SuperEdge Saver Account and you are eligible for the Bonus Interest Rate and your AMP SuperEdge 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 rate is applied to the entire balance of your AMP SuperEdge Saver Account and reflects that the Bonus Interest Rate is only for the first $1,000,000 balance of your AMP SuperEdge 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 SuperEdge 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 AMP SuperEdge Saver bonus rate, and the Standard Interest Rate is 0.65% pa, the Bonus Interest Rate is 0.35% pa, and your balance is $3,750,000 at the close of business for every day of the month of June, you will see an Effective Interest Rate shown as 0.74% pa.

Weighted Bonus Interest Rate Effective Interest Rate Interest earned 
(0.35% x $1,000,000 )/$3,750,000 = 0.0933% (this is rounded to 0.09%) 0.09% + 0.65% = 0.74% ($3,750,000 x 0.74% x 30)/365 = $2,280.82

 

Application form

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.

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?

To apply, your SMSF must be regulated by the ATO as an Australian complying fund. Complete the online application which takes 10-20 minutes. Alternatively, you can download and complete an application form.

Note: The online application caters for SMSFs with up to 4 members. If the SMSF has 5 or 6 members, please apply using the AMP Bank Smart Form.

To access the 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

Contact us

Mon - Fri: 8am – 8pm (AEST)
Sat & Sun 9am – 5pm (AEST)

Lost / Stolen Cards: 24 hours / 7 days a week

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.

For more information about these awards please visit Mozo Experts Choice Awards.


 

*If you open a new AMP SuperEdge Saver Account and you have not held an AMP SuperEdge Saver Account in the last two years, you'll earn a bonus of 0.90% pa on top of the AMP SuperEdge 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. The 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.