AMP Bank term deposit $25,000+ - finder.com.au

AMP Bank term deposit $25,000+

Last updated: Dec 30, 2020

Open an AMP term deposit with deposits from $25,000 and choose from terms ranging from 1 months to 5 years.

With competitive fixed interest rates offered in a variety of different term lengths, the AMP term deposit could be ideal for both short and long term saving goals if you have a deposit of $25,000 or more.

Up to 0.7% p.a.

Interest rate

12 months interest rate

$25,000

Minimum opening deposit

Account keeping fee

$99,999

Maximum deposit

We’re reader-supported and may be paid when you visit links to partner sites. We don’t compare all products in the market, but we’re working on it!

Details

Product Name	AMP Term Deposit $25,000+
3 month interest rate	0.45%
4 month interest rate	0.45%
6 month interest rate	0.65%
7 month interest rate	0.65%
9 month interest rate	0.65%
12 month interest rate	0.70%
24 month interest rate	0.70%
36 month interest rate	0.70%
48 month interest rate	0.70%
60 month interest rate	0.70%
Minimum Opening Deposit	$25,000
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	$25,000
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 $25,000

Shirley Liu

twitter linkedin

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

No monthly fees

AMP offers their term deposit with no monthly maintenance fee.

Earn more interest as your balance grows

The competitive interest rates are tiered, so you earn more money if you deposit larger amounts and invest for longer terms.

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

$25,000 minimum deposit

The minimum deposit required is $25,000, and the maximum deposit for this account is $99,999.

A range of terms for your investment

For investments between $25,000 and $99,999 terms can be anywhere between one month and five years.

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 when interest payments are made more frequently. The best rates are available on interest paid at maturity.

Keep track of your savings online or through the app

You can track your savings growth through online banking or from your android or iPhone mobile device by downloading AMP's free app.

Account availability

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

Compare more AMP banking products

Launch term deposit calculator

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.

Feedback

Go to site

Be money smart and see Finder’s best credit card deals.

Find a better personal loan deal

Find a better home loan

Want monthly fees on your bank account?

Discover the top share trading platforms.

Discover top performing superannuation funds.

Planning to travel soon? Check out one of our travel money location guides

How much will it cost? Calculate your home loan repayments

Types

Term Deposit Guides & Tools

Banks

AMP Bank term deposit $25,000+