If you have excess funds in your self-managed super fund (SMSF) but still want access to your savings, the SuperEdge Saver Account provides a convenient solution. Linked to your SMSF cash account, you earn a higher rate of interest, yet are free to transfer money in and out whenever you need. This allows you to keep your money close at hand, while still benefiting from a high interest savings account.
You need an AMP SuperEdge Cash Account to link to this account, so you can access your balance. You can open both accounts at the same time in the one application.
What are the features of the AMP SuperEdge Saver Account?
Accounts that passively allow you to earn interest income are a secure way of managing your SMSF's growth. When comparing these types of savings products among various banks and financial institutions in Australia make sure that you are considering the features that AMP offers:
No monthly account keeping fees.
You will not be charged for the maintenance of your SuperEdge Saver Account.
Linked cash account.
In order to take full advantage of this account it will need to be linked to an AMP SuperEdge Cash Account. You can open both at the same time.
Interest rate up to 2.05%.
The competitive interest rate of 2.05% for this account is variable, meaning that it may change from time to time.
The interest is calculated daily and paid into your SuperEdge Saver account monthly giving you the opportunity to earn even more with compound interest.
No minimum ongoing balance.
There are no ongoing balance requirements in order to keep this account active.
Accessing your money.
You can make unlimited free transfers of your cash using AMP’s online banking platform, mobile banking or phone banking.
The mobile app from AMP allows you to make simple transactions from your mobile phone, contact your AMP financial advisor and find supported ATMs in your area. You can download it for free from the App Store or with Google Play.
- Competitive interest rate
- 24/7 access to your money
- $0 monthly fees
- Only available to SMSFs
How do I apply for the AMP SuperEdge Saver Account?
You can apply online in less than 10 minutes. You should ensure that you are able to meet the eligibility requirements before beginning the application, and have the necessary documents handy.
- Minimum age. Only applications submitted by individuals aged 18 and over will be accepted.
- Residency requirements. All individuals listed on the application must be Australian residents.
- Depository requirements. You will not be required to make a minimum opening deposit.
- Tax file number. With an interest earning account like the SuperEdge Saver Account providing your tax file number (TFN) or exemption code will allow for AMP to deduct the correct withholding taxes from your earned interest. It is not mandatory that you provide your TFN but if you don’t, AMP are obligated to make deductions at the highest marginal rate.
- Identification. AMP will ask that you verify your identity using information found on your driver’s licence or passport. You can also request a separate identification form to be completed at a Bank@Post.
- Account details. The account number for you SuperEdge Cash Account will be necessary in order to link your new account. You may use a banking account from a different financial institution for which you will need to have the account number and BSB number.
- SMSF. The details of the SMSF being applied for will be required before the application can be processed.
Once you've completed the online application and AMP has all the information necessary to confirm your identity, the account will be activated within two business days.