An easy and automated way to manage your income and monthly budget through three linked deposit accounts - Bett3r Pay, Bett3r Save and Bett3r Spend.
The money in all three accounts is offset against your home loan balance each day. This means you only pay interest on the remaining portion of your loan.
AMP Superannuation Account or AMP Pension Account holders may be eligible for 1% Bill Cashback on BPAY® and direct debit payments.*
Which home loans can I link?
Most of our variable-rate loans can be linked to an AMP Bett3r Offset Account including:
- Introductory Professional Pack Variable Rate Loan - Bett3r Rewards available
- Professional Pack Variable Rate Loan - Bett3r Rewards available
- Basic Variable Rate Loan1
- Select Variable Rate Loan1
- AMP First Variable Rate Loan - Bett3r Rewards available (eligibility criteria applies2)
- Affinity Variable Rate Loan (no longer available for sale)
- Affinity Basic Variable Rate Loan (no longer available for sale)
- Introductory Classic Variable Rate Loan (no longer available for sale)
- Classic Variable Rate Loan (no longer available for sale)
- Low Doc Variable Rate Loan (no longer available for sale)
Bett3r Offset is not available with:
- Construction and land loans
- AMP’s Essential Home Loan
- Lines of credit
- Fixed rate loans
Linking Bett3r to an eligible home loan
Linking Bett3r to an eligible loan account is only completed on request. We do not automatically link Bett3r to your eligible loan account.
For example, if you come to the end of a fixed rate period and your loan converts to an eligible variable interest rate loan, you must call us on 13 30 30 to link or open a Bett3r Offset Account.
If Bett3r is linked to a home loan that is not eligible, no offset benefit will apply, and the product name will change to Unlinked Offset Deposit Account. All account access and operating terms and conditions remain unchanged.
If you don't have an eligible home loan, you could still enjoy the benefits of Bett3r as a deposit account, including a bonus interest rate on your Save account. Find out more.
A $6 monthly fee is payable on Offset Deposit Account linked to Basic variable rate loan accounts.
2AMP shareholders and employees
The AMP First Home Loan is a special offer only available to AMP shareholders and AMP employees who apply directly through AMP Bank. If you’d like more information, complete the online enquiry form and an AMP Bank direct sales team member will contact you.
If you don't have an eligible loan, you could still enjoy the benefits of Bett3r as a deposit account, including a bonus interest rate on your Save account.
Rates, fees & eligibility
Rates & fees
Effective date 10 July 2016
|AMP Bett3r Deposit Account||Standard interest rate|
|Bett3r Save||0.00% pa
|Bett3r Spend||0.00% pa
All money in your Pay, Save and Spend accounts will offset your home loan. This could save you thousands of dollars in interest.
Any offset balance above your loan balance does not accrue interest. The AMP Bett3r Offset Account does not have monthly fees unless it is linked to an AMP Basic home loan. In this case, there is a $6 Monthly Account Management Fee.
See the Deposit product fees and charges guide for more details, including fees for special services.
* Are you an AMP Superannuation or AMP Pension Account holder? Find out what extra Bett3r Rewards you may be eligible for. See the AMP Bett3r Account Bett3r Rewards Rules for applicable terms, conditions and eligibility criteria.
What do I need to apply?
Applying online is easy and will take you about five minutes to complete. You will need a valid form of identification.
What are the fees?
If your Bett3r Offset Account is linked to an AMP Basic home loan, there is a $6 Monthly Account Management Fee. See the Deposit product fees and charges guide for more information.
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 manage my account online?
You can only manage your Bett3r accounts through the Bett3r app, available for smartphones using iOS or Android operating systems. You can view your accounts online but are unable to complete any transactions.
I already have a Bett3r Account but need help setting it up
Get the most out of your AMP Bett3r Account with instructional videos to assist you every step of the way.
See all our FAQs for the Bett3r Account
We’ve tried to answer any questions you have about the Bett3r Account. If you can’t find what you need, contact us on 13 30 30.
Mon - Fri: 8am – 8pm (AEST)
Sat & Sun 9am – 5pm (AEST)
Lost / Stolen Cards: 24 hours / 7 days a week
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.