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.
AMP Business Saver Account
- Maximum variable rate
- 4.80% p.a.
- Base interest rate
- Minimum deposit
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.
$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
Bonus rate is for 6 months only
|AMP Business Saver Account
|Maximum Variable Rate
|Standard Variable Rate
|Monthly Account Fee
|Minimum Opening Deposit
Earn 4.8% p.a. for 6 months
New customers can earn an introductory bonus rate of 4.8% p.a. for 6 months, reverting to the standard ongoing rate after this.
Ongoing variable rate of 3.3% p.a.
After the 6 month introductory period ends, you'll earn the ongoing variable rate of 3.3% p.a. on balances up to $5 million. There are no ongoing deposit conditions, balance requirements or withdrawal restrictions to meet to earn this ongoing rate.
Interest calculated daily
Interest is calculated daily and paid into the account monthly.
No monthly fees
There are no monthly fees with this account.
Easy access to your money
You can access your funds around the clock using phone or internet banking, or instantly via the My AMP mobile app.
No minimum deposit
There is no minimum opening balance requirement.
Linked to any account
Access your funds via a linked everyday transaction account either with AMP or a different provider, as long as both accounts are under the same name.
Business use only
This account is for business use only and can be used by a sole trader, partnership, company or trust (excluding SMSFs). For personal bank accounts offered by AMP, take a look here.
How to apply
- Use of account. This account is for business owners, sole traders, partnerships or trusts (excluding SMSFs).
- Residency requirements. The business that this account is associated with must be registered in Australia.
- Depository requirements. There is no minimum deposit needed to open the account.
- Tax File Number. This will be necessary in order to ensure that the correct Australian tax amount is being deducted from any interest earnings.
- Identification. You will need to verify your identity with a driver's licence or passport. This will also be required of any additional or joint applicants.
- Business number. You may have to provide a copy of your Australian Business Number (ABN) as well as a copy of your business's search results from the ASIC database or a search of the relevant financial market.
- Linked account. You'll need to provide the details of your linked transaction account.
What happens after I submit my application?
Once your application is received, AMP will verify the information provided before issuing you the details of your new savings account. This shouldn't take any more than five business days.
You are about to post a question on finder.com.au:
- Do not enter personal information (eg. surname, phone number, bank details) as your question will be made public
- finder.com.au is a financial comparison and information service, not a bank or product provider
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- Your answer might already be waiting – check previous questions below to see if yours has already been asked
November 25, 2021
Can a not-for-profit association create on of these accounts?
Alison Banney Finder
December 03, 2021
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)
-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,
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March 09, 2018
How do I “easily apply online”? There doesn’t seem to be a link to an application form or page.
March 27, 2018
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.
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August 20, 2017
Can the accounts link to xero accounting program?
August 20, 2017
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.
February 16, 2016
i want to speak to a person re my business banking new account
Shirley Liu Finder
February 18, 2016
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.