In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question
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AMP Bank term deposit $5000+

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AMP Term Deposit $5000+
Interest rate 6 months interest rate
Up to 5% p.a.
Minimum opening deposit
$5,000
Account keeping fee
$0
Maximum deposit
$24,999

Summary

Invest $5,000 or more for just 12 months and get a fixed rate of 5% on your investment.

The AMP Term Deposit offers a competitive, fixed rate on deposits of $5,000 or more with your choice of term length from 3 months to 5 years. You can earn 3.25% on a 5 year term, with no account fees to pay.

Pros

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

Cons

  • Minimum investment of $5,000

In this guide

  • Review
  • Details
    • Key details
    • Eligibility
  • Key features
  • How to apply
  • Compare other savings accounts
  • Your reviews
  • Ask a question

Details

Key details

Product Name AMP Term Deposit $5000+
3 month interest rate 4.70%
4 month interest rate 4.70%
6 month interest rate 5.00%
7 month interest rate 4.75%
9 month interest rate 5.00%
12 month interest rate 5.00%
24 month interest rate 4.75%
36 month interest rate 3.25%
48 month interest rate 3.25%
60 month interest rate 3.25%
Minimum Opening Deposit $5,000
Minimum age requirement 18
Government guarantee Yes

Eligibility

Minimum Age Requirement 18
Joint account availability Yes
Min Deposit $5,000
Available to children Not available for children

Key features

No monthly fees

AMP offers this term deposit account with no monthly maintenance fee.

Earn more interest as your term length increases

Earn more money when you make larger deposits and keep your money in the account for longer term lengths.

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

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 18 years of age.
  • Residency requirements. You must be a permanent Australian resident with a verifiable Australian residential address in order for your application to be considered.

Compare other savings accounts

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Name Maximum Variable Rate p.a. Standard Variable Rate p.a. Intro Period Government Guarantee Monthly Max Rate Conditions
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MyState Bank Bonus Saver Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
0.05%
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Ongoing
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Monthly Max Rate Conditions
  • Deposit $20
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Bank of Queensland Future Saver Account - 14 to 35 years
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Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.05%
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  • Deposit $1,000
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AMP Saver Account
Maximum Variable Rate p.a.
5.40%
Standard Variable Rate p.a.
1.20%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1000 in previous month
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Rabobank High Interest Savings Account
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5.75%
Standard Variable Rate p.a.
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Monthly Max Rate Conditions
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ING Savings Accelerator ($150,000 - $500,000)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
4.70%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Welcome rate applies up to $500K
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Westpac Life (18-29 year olds only)
Maximum Variable Rate p.a.
5.20%
Standard Variable Rate p.a.
2.00%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow your balance
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Newcastle Permanent Online Savings Account
Maximum Variable Rate p.a.
5.00%
Standard Variable Rate p.a.
1.00%
Intro Period
3 months
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Monthly Max Rate Conditions
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ING Savings Maximiser
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Maximum Variable Rate p.a.
5.50%
Standard Variable Rate p.a.
0.55%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $1,000
  • 5 transactions
  • Grow your balance
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St.George Maxi Saver
Maximum Variable Rate p.a.
5.35%
Standard Variable Rate p.a.
1.10%
Intro Period
3 months
Government Guarantee
Monthly Max Rate Conditions
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Max Variable Rate includes 0.35% p.a. for 3 months for new customers who apply online
IMB Reward Saver Account
Maximum Variable Rate p.a.
5.25%
Standard Variable Rate p.a.
0.00%
Intro Period
4 months
Government Guarantee
Monthly Max Rate Conditions
  • Deposit $50
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Australian Unity Freedom Saver ($50,000 - $250,000)
Maximum Variable Rate p.a.
5.10%
Standard Variable Rate p.a.
5.10%
Intro Period
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
Go to siteView details
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Alison Finder

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Michele

August 07, 2023

If you have various different term deposits of $250,000 each does the government guarantee them all.


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Sarah Megginson Finder

September 04, 2023

Hi Michele,


According to APRA, deposits are protected up to a limit of $250,000 per account holder, per ADI (Authorised deposit-taking institution). To get the full benefit of the government guarantee, you could place your funds in different bank accounts with different banks, ensuring no more than $250k in each account.


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terry Hill

July 26, 2023

Can a SMSF invest money in the 12 month fixed term with AMP


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Alison Banney Finder

August 01, 2023

Hi Terry, AMP is currently only accepting online term deposit applications from personal customer and sole traders, not SMSFs. You can speak with the bank directly about opening an account for your SMSF.


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Sam

July 25, 2023

Can temporary resident apply for term deposit?


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Alison Banney Finder

July 25, 2023

Hi Sam, as stated in the ‘How to apply’ section on this page you need to be a permanent Australian resident with an Australian residential address.


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April

October 10, 2022

Is it safe to transfer a large deposit into the term deposit online


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Alison Banney Finder

November 22, 2022

Hi April,


Term deposits are one of the safest investment options available. Your deposit of up to $250,000 in a term deposit with an Australian bank is protected by the government’s bank guarantee scheme.


Thanks,

Alison


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greg robben

July 01, 2022

I want a monthly payout on a 24month term.

what is the interest rate.

what conditions, eg how much notice do you need if I have to access money


Avatar

Alison Banney Finder

July 10, 2022

Hi Greg,


For a 24-month term deposit with a balance between $5k-$25k the current interest rate offered by AMP is 3.60% (as of 8 June 2022). For balances between $25k-$100k, the rate is 3.65%. Please note that these rates do change frequently.


You can choose to receive interest payments in months instead of at maturity however, the interest rate will be reduced by 0.20%.


You must provide 31 days’ notice if you wish to access your money before the term matures, and an internal rate adjustment will be applied by AMP.


Thanks,

Alison


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