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Interest rate 6 months interest rate: Up to 3.95% 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 3.75% 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 2.95% 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

Details

Key details

Product Name	AMP Term Deposit $5000+
3 month interest rate	3.75%
4 month interest rate	3.75%
6 month interest rate	3.95%
7 month interest rate	3.90%
9 month interest rate	3.80%
12 month interest rate	3.75%
24 month interest rate	3.55%
36 month interest rate	2.95%
48 month interest rate	2.95%
60 month interest rate	2.95%
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

Congratulations, AMP Bank!

The AMP Bank Term Deposit $5000+ was highly commended for Best Term Deposit (12 Months) in the 2025 Finder Awards.

Full list of 2025 winners

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.

$5,000 minimum deposit

The minimum deposit required is $5,000, starting with a three month term. If you wish to only invest for one or two months, you must have an amount of at least $5,000. To find out the interest rates you would receive for larger deposits amounts, read our reviews of the AMP Bank's $25,000+ and $100,000+ term deposits.

A range of terms for your investment

For investments between $5,000 and $24,999 terms can be anywhere between three months 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 with interest payments made more frequently. For the full interest rate, you will wait for the payment to be made 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 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.

Depository requirements. There is a minimum of $5,000 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.

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 term deposit information page
2. AMP Bank term deposit TMD

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Alison Finder

Editorial Manager, Money

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Henry Liu

August 14, 2025

Can I open a term deposit for my family trust? If yes, would the rate be same as personal term deposit?

Regards,

Henry

Alison Banney Finder

August 18, 2025

Hi,

You can only open an AMP term deposit online if you’re a personal customer or a sole trader.

We suggest you get in touch with AMP directly to discuss your application as a trust.

Thanks,

Alison

Michele

August 07, 2023

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

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

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.

Sam

July 25, 2023

Can temporary resident apply for term deposit?

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.

April

October 10, 2022

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

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

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 term deposit $5000+

Pros

Cons

Congratulations, AMP Bank!

Key features

No monthly fees

Earn more interest as your term length increases

$5,000 minimum deposit

A range of terms for your investment

Interest payment

Keep track of your savings online or through the app

Account availability

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Sources

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