AMP Saver Account

AMP Saver Account

Maximum Variable Rate

2.36

Standard Variable Rate

1.40
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New Saver customers can take advantage of a bonus rate of 0.96% for the first 4 months.

  • Introductory rate of 2.36% p.a. for the first 4 months for new customers
  • Reverting to a standard rate of 1.40% p.a.
  • No minimum opening deposit
  • $0 Account keeping fees

Product details

Sign up for your first AMP Saver Account and for the first four months you’ll get a bonus interest rate on top of the already competitive rate. There are no deposit requirements and no limits on withdrawals in order to receive the bonus interest.

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That along with no monthly fees makes this a savings account product that can help you to meet your financial goals quicker.

Product Name
AMP Saver Account
Maximum Variable Rate
2.36% p.a.
Standard Variable Rate
1.40% p.a.
Bonus Variable Rate
0.96% p.a.
Introductory / Bonus Offer Conditions
The bonus rate is applicable for the first 4 months from the date your account is opened. Bonus rate is payable on account balances of up to $250,000 per customer.
Monthly Fee
$0
Minimum Opening Deposit
$0
Introductory Interest Period
4 month(s)
Internet Banking
Yes
Internet Transaction Fee
$0
Phone Banking
Yes
Phone Transaction Fee
$0
Maximum Deposit
$0
Joint application?
Yes
Minimum Age Requirement
18
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the AMP Saver Account?

Take the time to compare the AMP Saver Account with similar products from other Australian banks. As you do, keep in mind the following features offered by AMP:

Receive a maximum variable interest rate of 2.36% p.a. for the first 4 months

New customers will have a variable bonus rate of 0.96% p.a. applied to their balance along with the standard rate for the first four months after the account has been activated. After the introductory period, the rate will revert to the standard variable interest rate of 1.40% p.a. The bonus interest offer is not available for existing or prior Saver or eASYSaver customers.

Interest calculation and payments

Your interest will be calculated on the balance daily and paid into the account monthly.

No minimum deposit

You are not required to make a minimum deposit when opening this account.

No minimum ongoing balance

There is no minimum balance account in order to earn interest or avoid fees.

No monthly keeping fees

AMP does not charge a monthly account keeping fee for the Saver Account.

Manage your account online

You will need to provide a linked account so that you can move money in and out of your savings either by phone or online. This is considered an online account, where all of your transactions are made through the linked account.

Your linked account

You can link this account to any Australian transaction account.

Account use

This is an account meant solely for personal use. Business owners should consider the AMP Business Saver Account for keeping extra capital in a safe place.

Access to AMP expertise

AMP is a wealth management company that is able to provide expert advice to customers on how best to manage their savings in order to increase personal wealth.

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Pros

  • Competitive interest rate
  • Flexible at-call account
  • No monthly fees

Cons

  • Reverts to variable rate after introductory growth

How do I apply for the AMP Saver Account?

If after considering all of your savings options you have decided that the AMP Saver Account is right for your saving goals, than you can begin your application online by clicking “Go to Site”.

Eligibility to apply online

You should check the eligibility requirements first in order to ensure that you will qualify for this savings product:

  • Minimum age. This account is only available for individuals aged 18 or older.
  • Residency requirements. You must be an Australian citizen or resident that is able to provide proof of being in Australia when the account is opened.
  • Tax file number. While providing your tax file number (TFN) or exemption code is not mandatory, it will prevent AMP from having to deduct taxes at the highest marginal rate.

Documentation required to apply online

In order to be able to complete the application quickly and correctly you will need to have the following documentation:

  • Identification. AMP is required by law to verify your identity before issuing you an account. This is usually done by using a photo identification document such as a passport or driver’s licence.
  • Account information. Existing AMP customers will have to provide their current account number. You will also have to provide the details of an account that you wish this one to be linked to.

What happens after I've applied online?

If you choose to have AMP send you the forms needed to verify your identity you will need to wait approximately 3 business days for them to be posted. Once AMP has received those details regarding your identity, the account will be activated and details sent to you within 2 business days.

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38 Responses

  1. Default Gravatar
    TedAugust 8, 2019

    Can I visit a branch of amp for opening the special offer of account with 2.75 pc interest for first four months. I live in Cremorne

    • Avatarfinder Customer Care
      FayeAugust 9, 2019Staff

      Hi Ted,

      Thanks for contacting Finder.

      Yes you may or you can apply online. It is easy and will take you about five minutes to complete. You can click the ‘Go to site’ button and process the application from the main page of AMP.

      I hope this helps.

      Kind Regards,
      Faye

  2. Default Gravatar
    DavidAugust 6, 2019

    I’m not an Australian citizen, therefore not on electoral roll. I have provided drivers license details now I’m being asked to send a copy of that for ID verification

    • Avatarfinder Customer Care
      NikkiAugust 7, 2019Staff

      Hi David,

      Thanks for leaving a question on our page. As it says on our page, AMP is required by law to verify your identity before issuing you an account. This is usually done by using a photo identification document such as a passport or driver’s licence. It would be best to comply to their requests to proceed with opening an account with AMP.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.

      Best,
      Nikki

  3. Default Gravatar
    TiyanaAugust 6, 2019

    Hi, I want to open online AMP Saver Account ASAP with $250,000 balance. I can email you the copy of my Australian passport certified recently by JP. What else do I need to do?

    • Avatarfinder Customer Care
      NikkiAugust 6, 2019Staff

      Hi Tiyana,

      Thanks for your question. It’s great to hear that you are looking to open an online AMP Saver Account. To get started, click the HOW TO APPLY tab on the page above to check the eligibility requirements of this savings account. When you’re ready, begin your application online by clicking the green “Go to Site” button found on the top page.

      As a friendly reminder, review the fees, interest rates, and terms & conditions of this account before applying. You may also contact the bank should you have any questions about their product.

      Hope this helps!

      Cheers,
      Nikki

  4. Default Gravatar
    SusanJuly 3, 2019

    Do I need to open an AMP linked account to earn the bonus interest rate in the AMP saver account and is the 2 .75% interest rate only on balance amount of $250,000. what is the rate for any amount more than $250,000.

    • Avatarfinder Customer Care
      NikkiJuly 3, 2019Staff

      Hi Susan,

      Thanks for your inquiry!

      You will need to provide a linked AMP transaction or everyday account to earn the the 2.75% bonus rate (which is applicable for the first 4 months from the date your account is opened.) This linked AMP account’s purpose is so you can move money in and out of your savings either by phone or online. This is considered an online account, where all of your transactions are made through the linked account

      The bonus rate is payable on account balances of up to $250,000 per customer. Deposits over $250,00 are available upon request from the bank.

      Hope this helps! For any further questions, feel free to reach out to us again, we’re here to help.

      Best,
      Nikki

  5. Default Gravatar
    IanMay 3, 2019

    I am a British citizen and I am buying an apartment off plan in Broadbeach QLD and need to invest $450,000 until end of 2020. Can I invest and earn interest on the Saver Account without a tax number with interest being deducted at source?

    • Avatarfinder Customer Care
      JeniMay 5, 2019Staff

      Hi Ian,

      Thank you for getting in touch with Finder.

      You may apply for this account without a tax file number as it is not mandatory however your AMP would deduct taxes on your account at the highest marginal rate.

      Please make sure that you’ve read the relevant T&Cs or PDS of this account to help consider whether the product is right for you. It is also helpful to contact AMP directly for a more precise info on this account.

      I hope this helps.

      Thank you and have a wonderful day!

      Cheers,
      Jeni

  6. Default Gravatar
    OscarApril 5, 2019

    Hi

    If i were to invest $1,150, 000 for 35 days how much interest would i earn?

    Oscar

    • Avatarfinder Customer Care
      JohnApril 8, 2019Staff

      Hi Oscar,

      Thank you for reaching out to Finder.

      Though I am not certain of your special request to have a savings account set up for 35 days, you may contact AMP directly to check if this is allowed as well as the interest percentage they could provide you. Hope this helps!

      Cheers,
      Reggie

  7. Default Gravatar
    FrankMarch 31, 2019

    HI folks, thanks for the info. This saver account needs to be linked to an AMP transaction or everyday account. Does this second account have any fees, and are there any transaction charges associated with moving funds between the accounts? Thanks again.

    • Avatarfinder Customer Care
      MaiApril 1, 2019Staff

      Hi Frank,

      Thank you for contacting Finder.

      An AMP transaction or everyday account does not have any fees when transferring funds between accounts. You can move funds using your app without incurring any charges. To compare available everyday or transaction accounts from AMP, click the TRANSACTION ACCOUNTS tab from this page so you can review which one to go to.

      Hope this helps.

      Kind Regards,
      Mai

  8. Default Gravatar
    JustinJanuary 13, 2019

    what is maximum amount that can be transferred from a savings account each day

    • Avatarfinder Customer Care
      JohnJanuary 14, 2019Staff

      Hi Justin,

      Thank you for reaching out to finder.

      If you are pertaining about the AMP Saver Account, there are no deposit requirements and no limits on withdrawals in order to receive the bonus interest. Hope this helps!

      Cheers,
      Reggie

  9. Default Gravatar
    JohnJanuary 4, 2019

    Am I able to open this account in joint names?

    • Avatarfinder Customer Care
      JhezJanuary 5, 2019Staff

      Hi John,

      Thank you for your comment.

      Unfortunately, no. AMP Saver Account is not available for joint application.

      Should you wish to have real-time answers to your questions, try our chat box on the lower right corner of our page.

      Regards,
      Jhezelyn

  10. Default Gravatar
    DebbieDecember 20, 2018

    Can I also access my funds using card/PIN or is this account limited to online banking?

    • Avatarfinder Customer Care
      NikkiDecember 20, 2018Staff

      Hi Debbie,

      Thanks for getting in touch! You can access funds using the given access card and it is not only limited to online banking.
      Hope this helps!

      Best,
      Nikki

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