9.3

Finder Score

Excellent

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Maximum variable rate: 4.00% p.a.
Base interest rate: 4.00% p.a.

Our verdict

This business savings account offers an ongoing interest up to 4.00% p.a. with no monthly conditions to meet.

The AMP Bank Go Business Save account is designed for business customers and is exclusively available through the AMP Bank Go mobile app. It’s a business savings account that offers an ongoing interest rate of 4.00% p.a. without any conditions to meet.

This is a strong rate considering you don’t need to do anything to get it, and it’s also available on large balances up to $250,000. This savings account could suit you if you’re looking for a set-and-forget option for your business cash so it can earn interest while you’re not using it.

Pros

Strong ongoing rate of 4.00% p.a.
No deposit requirements
No withdrawal restrictions
Earn interest on business funds while you’re not using it

Cons

Only available via AMP Bank Go mobile app
No access to internet banking portal

Details

Product details

Product Name	AMP Bank GO Save (Business)
Maximum Variable Rate	4.00% p.a.
Standard Variable Rate	4.00% p.a.
Monthly Account Fee	$0
Minimum Age	15

Key features

Ongoing, variable interest rate up to 4.00% p.a.

You'll earn an ongoing, variable interest rate of up to 4.00% p.a. This is the maximum rate available for balances up to $250,000.

Balances above $250,000 will still earn interest but at a reduced rate. Balances above $5 million earn no interest.

No monthly deposit requirement

You don't need to deposit a certain amount of money each month in order to earn interest, and you don't have to ensure your balance grows either. It's designed to be a place to park your business cash while you're not using it where it can earn interest, without any hoops to jump through.

No withdrawal restrictions

You don't need to restrict your business cashflow - you can make withdrawals from your account whenever you need to and you'll still earn the ongoing variable interest rate.

Linked transaction account

This account will be linked to an AMP Bank Go Everyday Business transaction account. This is the account that you can use for your day-to-day business spending and transactions. It has no monthly account fee.

Available via the AMP Bank Go app

This account and the linked AMP Bank Go Everyday account are only available through the AMP Bank Go mobile app (this is free to download). You can't access your account via the standard AMP internet banking portal, even if you have other accounts with AMP.

The AMP Bank Go app provides 24/7 access to customer support.

Government guarantee scheme

AMP Bank is included under the Australian government guarantee scheme, so your deposit up to $250,000 is protected under this scheme. Keep in mind this scheme covers up to $250,000 combined across all accounts you hold with AMP (it's not per account).

How to apply

To open this account you must first download the AMP Bank Go mobile app (it's free). You'll need to provide a valid form of ID, such as a passport or driver's licence.

Once you've been approved, your AMP Bank Go Everyday Business account will be opened and you'll have access to the app. From here, you can now open an AMP Bank Go Save account.

Eligibility

You need to be an Australian resident
You need to be at least 15 years old
You need to be a sole trader, or an Australian private company owned by individuals or single or multiple directors, where at least two directors must apply for an account
You need a valid email address and Australian mobile number

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. AMP Bank Go Business Save Account information page
2. AMP Bank Go Business Save Account TMD

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Alison Finder

Editorial Manager, Money

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

AMP Bank Go Business Save Account

Pros

Cons

Key features

Ongoing, variable interest rate up to 4.00% p.a.

No monthly deposit requirement

No withdrawal restrictions

Linked transaction account

Available via the AMP Bank Go app

Government guarantee scheme

How to apply

Sources

Sources

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