Choose the right term deposit
For instance, we currently offer:
|0.20% pa||for deposits over $25,000 for a term of 3 months|
|0.30% pa||for deposits over $25,000 for a term of 6 months|
|0.35% pa||for deposits over $25,000 for a term of 12 months|
Rates effective 24 May 2021. Please check out the full range of term deposits and interest rates.
How term deposits work
Saving for something big? Have you received a lump sum of money that you're keen to put away? A term deposit can be an ideal way to save for a specific goal, as it's enables you to invest and get a guaranteed return, which will be based on the amount you invest and the interest rate on the day you open your term deposit.
Instead of leaving your money in a transaction account earning little or no interest (and where you may be tempted to use it), why not put your funds away for a period of time that you get to choose and which will earn you a return at the end? This could help you achieve your goals faster, whether it’s putting a deposit on a new home, buying a car or planning a holiday.
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. Talk to a financial adviser to see what kind of saving strategy works best for you.
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.
Information including interest rates is correct as at 21 May 2021 and is subject to change without notice.