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    AMP Bank GO Term Deposits
    lady with smile

    Get simple, secure terms

    • Set term of 6 or 12 months

    • Requires an AMP Bank GO Everyday Account

    • No monthly fees

    • Access and manage on the AMP Bank GO app

    • $5,000 minimum deposit

    Get guaranteed returns

    Guaranteed returns of

    • Interest rate of

      % P.A

    Interest rate is subject to change without notice. Rates above apply for deposits of $5,000 to $10,000,000. Effective . Terms & Conditions.

    Government guarantee
    hand

    The Australian Government guarantee protects combined deposits up to $250,000 per customer if a financial institution fails.

    What is the Financial Claims Scheme?
    All the best bits, included

    • Competitive interest rate

    • start with as little as $5,000

    • Peace of mind

    • Guaranteed returns

    Rates & eligibility
    Rates & eligibility
    Deposit terms available                               
    Minimum term Rate*
    6 months % p.a
    12 months % p.a

     

    Effective date

    *Interest rate is subject to change without notice. Rates above apply for deposits of $5,000 to $10,000,000.

    Eligibility

    Ready to open an AMP Bank GO Term Deposit?

    You must:

    • Be an Australian resident aged 15 or over
    • Have a valid email address and an Australia mobile number
    • Have an active Everyday Account with AMP Bank GO.

      

    Things to consider

    • How Term Deposits work

      If you’re planning a major purchase or have received a lump sum of money you’re keen to put away, a term deposit might be suitable for you.

      It can be an ideal way to save for a specific goal, as it enables you to invest and get a guaranteed return based on the amount you invest and the interest rate on the day you open your term deposit until the day it matures.

      Leaving your money in a transaction account generally earns you little or no interest. You may also be tempted to spend it. Instead, consider putting those funds away for a set period of your choice that pays you a guaranteed return at the end.

      Whether you want to purchase something big or have the peace of mind you have cash stored away for future opportunities, a term deposit could help you achieve your goals faster.

      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 (costs apply to break your term deposit early).

      Close
    • What is the interest adjustment for early withdrawal


      If a Term Deposit is withdrawn early, the interest that applies to the Term Deposit will be reduced in accordance with the table below:

      Term Interest days reduction
      6 months 60 days interest
      12 months 90 days interest

       

      Full details are available in Account Limits, Fees and Charges.


      Example

      - Your Term Deposit of $20,000 is opened on 1 October 2025 for a 6-month period.
      - The interest rate applicable to your Term Deposit is 4.00% p.a.
      - You decide to request an early withdrawal on the 31st of December 2025

      The interest paid to your account on the withdrawal date inclusive of the 31 days’ notice period will be calculated as follows:

      Daily accrued interest = $20,000 x 4.00 % 365 = $2.19

      Total days of interest accrued (from 1 Oct 2025 to 31 Dec 2025 PLUS 31 days notice) = 122 days

      Total accrued interest = $2.19 x 122 days = $267.40

      Interest adjustment = 60 days x $2.19 (daily accrued interest) = $131.51

      Total interest paid out 31 days after notification to withdraw early = $267.40 - $131.51 = $135.89

      The example above is indicative only and uses rates and figures we have selected to demonstrate how an Interest Rate Adjustment operates. Actual interest rates vary from time to time.

      Close

      

    How to sign up and connect:

    AMP Bank GO spark logo
    01 Get the app

    Head to the Apple App Store or Google Play to get the AMP Bank GO app

    AMP Bank GO app and cards
    02 Open an account

    Open an Everyday Account with AMP Bank GO. Once you’ve set up your account, verification can take up to 24 hours.

    Term deposit bank cards infographic
    03 Open a Term Deposit

    Tap your profile in the top right of your screen → Open a new account → Select the Term Deposit you would like to open

    Term deposit progress infographic
    04 Lock in your returns

    Start making gains on your deposits.

    FAQs

    If you have an Everyday Account you can open a Term Deposit account linked to your Everyday Account. 


    To do this, just go to the Profile section of the app to select 'Open a new Account' and proceed. 

    To open a Term Deposit Account, 

     

    1. Go to your Profile menu
    2. Select 'Open a new Account'
    3. In the 'add to an existing account' section, select your personal account
    4. Select 'Term Deposit' as the account type you want to open.

    You can open 5 Term Deposit accounts using your personal Everyday Account.

    Your Term Deposit account will have: 

     

    • Fixed Term - you agree to lock your money away for a specific period (e.g. 6 months or 12 months) 
    • Guaranteed Interest rate - The interest rate is fixed for the entire term, providing certainty about your returns 
    • Minimum Deposit - $5,000 
    • No Access to funds during term - You generally cannot withdraw funds before maturity without providing at least 31 days notice and a interest adjustment will apply.
    • Interest paid at Maturity
    • Covered under the Financial Claims Scheme. 

    You are able to view and download the following statements and documents in the 'Statements and Documents' section of AMP Bank GO: 

     

    • Term Deposit Confirmation 
    • Account Statement

    A Term Deposit Confirmation is a document issued by AMP Bank GO to confirm the details of the Term Deposit account you have opened. 

    A Maturity Certificate is a document issued by AMP Bank GO to signify that your Term Deposit has reached its maturity date and provides details of your linked Everyday Account and the amount of interest earned over the term.

    An Interest and Tax Summary for a term deposit is a document we give you at the end of the financial year. It shows:

     

    • How much interest you earned on your Term Deposit during the year. 
    • Any tax that was taken out (withholding tax) before the interest was paid to you.
    • Your account details and dates so you can match it to your records.


    This summary helps you when doing your tax return because you need to report the interest you earned. It’s basically a quick snapshot of your earnings and any tax already paid. 

    You are paid interest at maturity. 

    Interest is calculated based on the following formula: 


    Total Interest at Maturity = Principal Amount x Interest Rate % x (Term Duration (days) / 365) 

    Calculating Interest on your Term Deposit involves using the initial principal amount, the annual interest rate, and the duration of the deposit. 

     

    • For example, if the  principal amount you deposit into your Term Deposit is $10,000
    • Your Term Deposit term duration is 180-days 
    • The fixed interest rate applied your Term Deposit is 4% p.a. 
    • Your total interest at maturity will be calculated as follows: 

    $10,000  x 0.04 x (180/365) = $197.26 

    Withholding Tax is the tax that is deducted by AMP Bank from the interest earned when you have not provided us your TFN or your TFN exemption. 

      

    Not the right product for you?

    Learn more about banking with AMP

    • Explore AMP Bank GO features
    • Explore all AMP Bank GO FAQs BSB 939 900
    • Term Deposit calculator
    • Contact us
    Important information

    The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517. 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.

    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 here.

    Any application is subject to AMP Bank's approval.

    For accounts with BSB number 939 900, that you access via AMP Bank GO, the Terms and conditions that apply are available here. 

    For accounts with BSB number 939 200, that you access via the My AMP mobile app, the Terms and conditions that apply are available here.

    Information including interest rates is correct as at and is subject to change without notice.