AMP Bank term deposit $100,000+

Invest $100,000 or more for 24 months and earn a competitive rate of 3.65% p.a.

If you're looking to earn a competitive interest rate on deposits between $100,000 to $499,999, the AMP Bank term deposit could be an ideal option for you. With a variety of flexible term lengths ranging from 1 month to 5 years, this account allows you to enjoy fixed and reliable returns.

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Shirley Liu

Last Updated Dec 30, 2020

Up to 4.15% p.a.

Interest rate

60 months interest rate

$100,000

Minimum opening deposit

Account keeping fee

$499,999

Maximum deposit

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Details

Product Name	AMP Term Deposit $100,000+
3 month interest rate	0.35%
4 month interest rate	0.35%
6 month interest rate	1.90%
7 month interest rate	1.90%
9 month interest rate	2.50%
12 month interest rate	2.90%
24 month interest rate	3.65%
36 month interest rate	3.90%
48 month interest rate	4.05%
60 month interest rate	4.15%
Minimum Opening Deposit	$100,000
Minimum Age Requirement	13

The rates displayed above are interest rates paid at maturity only. We endeavour to ensure that the information on this site is current and accurate but you should confirm any information with the product or service provider and read the information they can provide.

Minimum Age Requirement	13
Joint account availability	Yes
Min Deposit	$100,000
Available to children	Not available for children under 13 years of age

Pros

$0 Account keeping fees
Wide ranges of terms from from 3 months to 5 years

Cons

Minimum investment of $100,000

Shirley Liu

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Shirley Liu is Finder's global program manager. She was previously the publisher for banking and investments and has also written comparisons for energy, money transfers, Uber Eats and many other topics. Shirley has a Master of Commerce and a Bachelor of Media, Journalism and Communications from the University of New South Wales. She is passionate about helping people find the best deal for their needs.

Key features

Competitive interest rates up to 4.15% p.a.

This account offers a fixed interest rate of up to 4.15% p.a. for a 5 year term deposit.

Earn more interest on longer term lengths

Generally, as your term length increases, so do your earnings with this account. While a 6 month term will earn you a rate of 1.9% p.a., longer terms such as 24 months will allow you to earn a fixed rate of 3.65% p.a.

NOTE: Other bonus margins cannot be applied to the rates displayed above.

No monthly fees

AMP offers their term deposit with no monthly maintenance fee.

$100,000 minimum deposit

The minimum deposit required to access these rates is $100,000. If you're looking to deposit a smaller amount, AMP also offers term deposits with minimum deposits ranging from $5,000 to $99,999. To find out how much interest you could earn on these smaller deposits, read our reviews of the AMP $5,000+ and $25,000+ term deposits.

Interest payment

You can choose how often the interest is paid into your account, including every one, three or six months. In some circumstances special conditions or reduced rates will apply with interest payments made more frequently. For the full interest rate, you will wait for the payment to be made at maturity.

Account availability

The term deposit from AMP is available for individuals, sole traders, companies and trust accounts.

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How to apply

If the terms of AMP's account meet your savings style, visit the AMP website to complete an online application form. You can also talk directly with a financial adviser if you have any questions about the term deposit and how it can help with your future financial goals.

Eligibility

Before getting started, you should be aware of the eligibility requirements for this account:

Minimum age. Applicants should be at least 13 years of age.
Residency requirements. You must be an Australian resident with a verifiable Australian residential address in order for your application to be considered.

Depository requirements. There is a minimum of $25,000 required in order for AMP to open a term deposit in your name.

Documentation needed

Additionally you will need to be able to provide the following documentation when sending your application to AMP Bank:

Tax file number. Providing AMP with your tax file number (TFN) or TFN exemption code is not mandatory, but it will help in ensuring that your withholding tax on interest earned is at the correct rate.
Identification. By Australian law, AMP is required to verify your identity prior to opening an account in your name. This can be done using your Australian driver's licence or passport.
Initial deposit. You can either send a check along with your application for the initial deposit, or provide AMP with an account number from which they can make an electronic withdrawal. If you are choosing direct debit you will have to send in a copy of an account statement that is not more than six months old and which contains the BSB, account number and account name.

What happens after I submit my application?

If you are an individual or sole trader, you can still complete the application process online. Once it has been received by AMP Bank the account will be opened after they have verified the identification documents you submitted and your initial deposit has cleared.

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14 Comments

Keith
June 11, 2022

Are term deposits Gov’t guaranteed

Reply
- finder Customer Care
  
  Alison
  June 20, 2022
  
  Hi Keith,
  
  Yes, term deposits are covered under the Financial Claims Scheme (FCS). With this scheme, the government guarantees deposits of up to $250,000 per account holder per ADI.
  
  Best,
  Alison
  
  Reply
Glenworth
June 10, 2022

Are there any account set up fees for a 6 month term deposit?

Thank you

Reply
- finder Customer Care
  
  Alison
  June 24, 2022
  
  Hi Glenworth,
  
  The AMP Bank Term Deposit account has no monthly maintenance fee.
  
  To open an account online, please visit the AMP website.
  
  Regards,
  Alison
  
  Reply
ray
May 23, 2022

are invested funs up to $ 250,000.00 garenteed buy Aust Gov

Reply
- finder Customer Care
  
  Alison
  June 20, 2022
  
  Hi Ray,
  
  Yes, as one of the authorised deposit-taking institutions covered under the Financial Claims Scheme (FCS), deposits of up to $250,000 per account holder per ADI is government guaranteed.
  
  Best,
  Alison
  
  Reply
Lee
April 4, 2022

does your term deposit has breaking fee, if it is breakable.

Reply
- finder Customer Care
  
  Alison
  April 6, 2022
  
  Hi Lee,
  
  Yes, costs will apply when accessing the funds before the maturity date. The interest rate will also be adjusted based on the proportion of the original term elapsed on the date of the early withdrawal. The amount of interest rate adjustment applied for early withdrawals from term deposits will vary at AMP’s sole discretion.
  
  Best,
  Alison
  
  Reply
Edward
January 14, 2022

I currently have $634,000.00 to invest for 12 months. Please advise your current interest rates pertaining to this investment amount. I am 83 years old and have trouble using modern technical stuff. I also have a letter from the ATO stating that “I won’t need to lodge an income tax return for the following year ending and future years” dated 29th April 2019

Reply
- finder Customer Care
  
  Alison
  January 29, 2022
  
  Hi Edward,
  
  Thank you for getting in touch with Finder. According to AMP’s website they offer a rate of 1.10% p.a. for deposits over $100,000 on 12 month terms. For a longer term length of 24 months, the rate increases to 1.35% p.a.
  
  To apply, please visit the AMP Bank Term Deposit website. You can also call their customer support at 133 888 or email them at askamp@amp.com.au to discuss your particular deposit amount and the best rate they can offer you.
  
  Don’t forget to read the product terms and conditions and other relevant details before applying.
  
  Thanks,
  Alison
  
  Reply

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AMP Bank term deposit $100,000+