AMP Bank Term Deposit

Lock your money away and watch it grow

Achieve your savings goals sooner when you lock in your money at a high fixed term deposit rate for three months or more. It's perfect if you’re planning a holiday or any major purchase.

Start with $5,000 and choose for how long you want to stash your money away. Try our Term deposit calculator to see what you could earn by the end of your term. You can roll it over and extend your savings term, while you collect the interest you’ve earned.

A Term Deposit account may suit if you’re:

  • saving for a short- or longer-term goal
  • able to avoid temptation with your funds locked away
  • ready with a lump sum of $5,000 or more
  • three or more months away from reaching your goal
  • keen on seeing exactly what you’ll earn.

Here’s what you get:

  • decent returns earning interest on your savings
  • no Account fees
  • terms from 30 days (for $25,000 or more) to five years
  • interest payable every one, three or six months (special conditions or reduced rates apply).

 

up to
3.00% pa
Effective 18/09/2016

Open your
Term Deposit today

Download an application

Term Deposit rates

Effective date 18 September 2016

Term                 $5,000 to less than $25,000
$25,000 to less than $100,000 $100,000 to $500,000
>$500,000 to $1,000,000 >$1,000,000 to $5,000,000
1 month   1.90% pa 1.90% pa 2.10% pa 2.10% pa
2 months   2.00% pa 2.00% pa 2.20% pa 2.20% pa
3 months(i) 2.15% pa 2.35% pa 2.35% pa 2.35% pa 2.35% pa
4 months 2.25% pa 2.45% pa 2.45% pa 2.65% pa 2.65% pa
5 months 2.25% pa 2.45% pa 2.45% pa 2.65% pa 2.65% pa
6 months(i) 2.45% pa 2.65% pa 2.65% pa 2.65% pa 2.65% pa
7 months 2.15% pa 2.35% pa 2.35% pa 2.35% pa 2.35% pa
8 months 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
9 months(i) 2.30% pa 2.50% pa 2.50% pa 2.50% pa 2.50% pa
10 months 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
11 months 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
1 year(i) 2.55% pa 2.75% pa 2.75% pa 2.75% pa 2.75% pa
13 months(ii) 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
18 months(iii) 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
2 years 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
3 years 2.35% pa 2.55% pa 2.55% pa 2.75% pa 2.75% pa
4 years 2.55% pa 2.75% pa 2.75% pa 2.95% pa 2.95% pa
5 years 2.60% pa 2.80% pa 2.80% pa 3.00% pa 3.00% pa

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 months Interest rates for three-monthly interest payments are 0.10% pa less than the standard rates above
Every six months Interest rates for six-monthly interest payments are 0.05% pa less than the standard rates above

A bonus interest rate of up to 0.10% per annum is available for AMP Corporate Superannuation customers. This bonus excludes special offers, and term deposits with balances of $1,000,000 and greater. Deposits over $5,000,000 are at our discretion. 

(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.

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

Planning a major purchase? Saving for a holiday? Received a lump sum?

Term deposits are ideal to save for specific goals. A term deposit is an investment with a guaranteed return 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 in a safe place where you can earn a decent level of interest.

This disciplined way of saving can help you achieve your goals faster, whether it’s putting a deposit on a new home, buying a car or planning a holiday.

Term deposits are also ideal if you suddenly come into some money and you’re not sure what to do with it. If you receive a lump sum—whether through selling something, a work bonus, inheritance or other income source—think about putting it out of temptation’s way in a term deposit. Your money will earn a decent rate of interest while you think about your financial options.
 

Calculate how much you can earn

Use our Term deposit calculator to see what you can earn. Simply enter the amount you wish to invest, choose for how long you want to invest (the term), and the interest rate that applies to that amount and term. Our calculator will show your total earnings over the whole term.

Remember, this is a fixed rate from the date of deposit to the maturity date of your term deposit. If you take your money out early, you may lose interest.
 

Term deposit calculator

Our Term deposit calculator helps you calculate how much interest you could earn on a term deposit.

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Apply now

It’s easy to open a Term Deposit. You can:

  • download an application form
  • talk to a financial adviser
  • for any help or questions, call us on 13 30 30
    Monday to Friday 8.30am – 8pm (AEST)
    Saturday and Sunday 9am – 5pm (AEST).

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Important information

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It’s important to consider your particular 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.

This information is provided by AMP Bank Limited. Read our Financial Services Guide 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.

All banking products are issued by AMP Bank Limited.