The bonus interest rate of 4.8% p.a. is available to new customers for the first 6 months. After this, an ongoing rate of 3.3% will apply each month, with no deposit conditions or withdrawal restrictions.
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AMP Business Saver Account
- Maximum variable rate
- 4.80% p.a.
- Base interest rate
- 3.3%p.a.
- Minimum deposit
- $0
Our verdict
Earn up to 4.8% p.a. on your business funds and pay no monthly fees.
This account offers a decent ongoing interest rate on your business funds with no monthly conditions to meet. You can make withdrawals whenever you need while still being eligible for interest, which is great for helping manage cashflow. The ongoing interest rate is available for large balances up to $5 million, which is larger than many other accounts.
Keep in mind that as this is a savings account it doesn't come with debit card access. However, you can transfer money to and from the account instantly via the My AMP app, internet or phone banking.
Pros
-
$0 monthly maintenance fee
-
Access your money through mobile, phone and internet banking
-
Earn up to 4.80% p.a. for 6 months
-
No ongoing conditions to meet
Cons
-
Bonus rate is for 6 months only
Details
Key details
| Product Name | AMP Business Saver Account |
| Maximum Variable Rate | 4.80% p.a. |
| Standard Variable Rate | 3.30% p.a. |
| Monthly Account Fee | $0 |
| Minimum Opening Deposit | $0 |
| Minimum Age | 18 |
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Alison Finder
Editor
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Alison Banney Finder
December 03, 2021
Hi Scott,
Yes, non-profit associations, such as charities can open an AMP Bank Business Saver account. The following are eligible:
-Companies or organisations (excluding financial institutions)
-Non-SMSF trusts
-Government entities
-Charities
-Sole traders or partnerships
If you’re an Australian company or unregulated trust, you can apply online, and it will take 10-20 minutes to complete. Other entities should download and complete the appropriate application form. You can also talk to a financial adviser to see what kind of saving strategy works best for your business.
I hope this helps,
Alison
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Dellpark
March 09, 2018
How do I “easily apply online”? There doesn’t seem to be a link to an application form or page.
Jhezelyn Finder
March 27, 2018
Hi Dellpark,
Thank you for your comment.
Since our page does not indicate the link to apply for the AMP Bank Business Saver Account, we encourage you to please apply through their website directly. Search for AMP Business Saver Account and click apply online now. Please make sure that you’ve met the eligibility requirements before submitting an application.
Regards,
Jhezelyn
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Kayla
August 20, 2017
Can the accounts link to xero accounting program?
Arnold
August 20, 2017
Hi Kayla,
Thanks for your inquiry.
This account can be accessed via a linked account everyday transaction account either with AMP or another provider, as long as both accounts are under the same name.
Hope this information helped.
Cheers,
Arnold
pat
February 16, 2016
i want to speak to a person re my business banking new account
Pat
Shirley Liu Finder
February 18, 2016
Hi Pat,
Thanks for your question.
AMP is available on 133 888 – finder.com.au is a third comparison service and has no access to your personal information.
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Scott
November 25, 2021
Can a not-for-profit association create on of these accounts?