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    AMP Bank Term Deposit

    Give your savings a boost

    • Locks your money away at a fixed rate of interest

    • Pays you guaranteed return at the end

    • Competitive market rates

    • Minimum deposit required is $5,000

    Apply online
    Government guarantee

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

    What is the Financial Claims Scheme?
    Fee-free and flexible

    Choose from terms between three months to five years and multiple interest payment options. No monthly fees, and it’s simple to roll over.

    View all terms and rates
    Product inclusions
    What the product includes
    • A competitive savings rate
    • The requirement to invest a minimum of $5,000
    • Locking savings away for a set time
    • The certainty of a guaranteed return
    What the product doesn't include
    • The option to invest less than $5,000
    • Easy access to your savings
    • The option to change your timeframe
    • A cheque book, Bank@Post or Visa Debit card

    Looking for another way to save?


    Try the AMP Bank GO Save account.

    Effective date 

     Term $5,000 to less than $25,000 $25,000 to $10,000,000
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    TD held as security
    Term Deposit (TD) held as security is a one-month rolling term deposit at an interest rate of 0.10% p.a. Your TD will automatically roll over each month for the duration of your loan variation period.

    No account-keeping fees apply to AMP Bank’s Term Deposits. Instead you will earn interest paid at interims you select or on maturity, depending on the term you choose for your term deposit. You may open as many term deposits as you like each with a different term or invested amount. You will receive your interest earnings at the end of the term or, if you would like to be paid more frequently, at a slightly lower rate on terms of one year or more. You can receive those earnings every month, every three months or every six months instead of annually. For example, here are the interest payment options on terms of one year or more:

    Interest rate payment frequency Interest rate conditions
    Every month Interest rates for monthly interest payments are 0.20% pa less than the standard rates above
    Every three month Interest rates for three-monthly interest payments are 0.10% pa less than the standard rates above
    Every six month Interest rates for six-monthly interest payments are 0.05% pa less than the standard rates above

    (i) Special Offer only. Other bonus margins cannot be applied to this rate.
    (ii) Only available where interest is paid electronically into a nominated account with AMP Bank or another financial institution and no bank cheque is issued. Where interest is paid annually, the first interest payment is made after 12 months and the second interest payment is made at maturity.
    (iii) Quarterly and half-yearly interest payment options are not available.
    (iv) These rates apply to Direct customers (those who have applied for the product directly through AMP Bank) only. If you acquired the product through an intermediary, please contact your intermediary for current interest rates. 
    (v) Not available for new applicants

    For full details, please read the Deposit products fees and charges guide.

    Who can open an account?

    We’re currently accepting online applications for Personal and Sole Trader accounts only.

    For all other entities, including Self-Managed Superannuation Funds and Companies, please speak to your Fixed Income Broker.

    Term deposits in detail

    • 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 a new asset 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' notice1 if you want to access the money earlier than the selected term2 (costs apply to break your term deposit early). If you choose to continue with your term deposit once it matures (rolling over), the interest rate on the day the roll-over occurs will apply, this may be  lower, the same as or higher than the interest rate from your initial term.

       

      1 Excludes AMP Super Funds.
      2 Interest adjustment applied when accessing funds earlier than the selected term.

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    • Changes to interest adjustment for early withdrawal

      If a term deposit is withdrawn early, the interest rate that applies to your account will be reduced by the interest rate adjustments shown in the tables below.

      Early withdrawal for all customers except AMP Super Fund

      Portion of term completed Interest rate adjustment 
      (% reduction to your interest rate)
      Less than 20% 90%
      20% to less than 40% 80%
      40% to less than 60% 60%
      60% to less than 80% 40%
      80% or more 20%


      Early withdrawal for AMP Super Fund

      Portion of term completed Interest rate adjustment
      (reduction to your interest rate pa)
      Less than 25% 2.75% pa
      25% to 50% 2.25% pa
      50% to 75% 1.75% pa
      75% to 90% 1.25% pa
      90% or more 0.75% pa


      If the original interest rate, before any adjustment is made, is less that or equal to the applicable interest rate adjustment percentage, no interest will be paid.

      Full details of the changes are in the Deposit products fees and charges guide and the Deposit products terms and conditions. Please take the time to read the document at amp.com.au/bankterms.

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    Any questions?

    Get more information on how this product works, eligibility and how to apply.

    There are no ongoing account management fees for a AMP Bank Term Deposit. If you want to access your money before the end of your term, fees may apply. Read our Deposit products fees and charges guide for more information.

    You’ll need valid forms of identification and your bank account details for the initial deposit. Other entities should download and complete the appropriate application form.

    The Australian Government guarantee protects combined deposits up to $250,000 per customer.

    Direct debits are not permitted on term deposits. Read our Account Access and Operating Terms and Conditions for more information.

    Contact us

    If you need assistance or have any questions, get in touch.

    Call    13 30 30
    Email    info@ampbanking.com.au

    Weekdays 8am - 8pm Sydney time
    Weekends 9am - 5pm Sydney time

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    Important information

     

    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.

    Credit and deposit products are issued by AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.

    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. Full details are available in the Fees and charges guide.

    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.

    Target Market Determinations for these products are available here.

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