Competitive market rates
Be sure of the interest you’ll earn and lock in a great rate. The minimum deposit required to open an AMP Bank Term Deposit is $5,000.
Fee-free and flexible
Choose from terms between three months to five years and multiple interest payment options. No monthly fees, and it’s simple to roll over.
Government guarantee
The Australian Government guarantee protects combined deposits up to $250,000 per customer if a financial institution fails.
Product inclusions
How term deposits work
If you’re planning a major business purchase or have received a lump sum of money you’re keen to put away, a term deposit might be suitable for you.
It can be an ideal way to save for a specific goal, as it enables you to invest and get a guaranteed return based on the amount you invest and the interest rate on the day you open your term deposit until the day it matures.
Leaving your money in a transaction account generally earns you little or no interest. You may also be tempted to spend it. Instead, consider putting those funds away for a set period of your choice that pays you a guaranteed return at the end.
Whether you want to purchase a new asset for your business or have the peace of mind you have cash stored away for future opportunities, a term deposit could help you achieve your goals faster.
It's important to think carefully when choosing your term duration as you need to provide 31 days' notice1 if you want to access the money earlier than the selected term2 (costs apply to break your term deposit early). If you choose to continue with your term deposit once it matures (rolling over), the interest rate on the day the roll-over occurs will apply, this may be lower, the same as or higher than the interest rate from your initial term. Talk to a financial adviser to see what kind of saving strategy works best for your business.
Rates, fees & eligibility
Effective date
| Term |
$5,000 to less than $25,000 |
$25,000 to $10,000,000 |
| 1 month(v) | % pa |
|
| 2 months(v) | % pa |
|
| 3 months(i),(iv) | % pa |
% pa |
| 4 months(i) | % pa | % pa |
| 5 months(i) | % pa | % pa |
| 6 months(i),(iv) | % pa |
% pa |
| 7 months(i) | % pa |
% pa |
| 8 months(i) |
% pa |
% pa |
| 9 months(i),(iv) | % pa | % pa |
| 10 months(i) |
% pa |
% pa |
| 11 months(i) | % pa |
% pa |
| 1 year(i),(iv) | % pa |
% pa |
| 13 months(i),(ii) | % pa |
% pa |
| 18 months(i),(iii) | % pa |
% pa |
| 2 years(i) | % pa | % pa |
| 3 years(i) |
% pa | % pa |
| 4 years(i) | % pa |
% pa |
| 5 years(i) | % pa |
% pa |
| TD held as security | Please contact us on 13 30 30 for interest rates applicable for Term Deposits held as security for loans. | |
No account-keeping fees apply to AMP Bank’s Term Deposits. Instead you will earn interest paid at interims you select or on maturity, depending on the term you choose for your term deposit. You may open as many term deposits as you like each with a different term or invested amount. You will receive your interest earnings at the end of the term or, if you would like to be paid more frequently, at a slightly lower rate on terms of one year or more. You can receive those earnings every month, every three months or every six months instead of annually. For example, here are the interest payment options on terms of one year or more:
| Interest rate payment frequency |
Interest rate conditions |
| Every month | Interest rates for monthly interest payments are 0.20% pa less than the standard rates above |
| Every three months | Interest rates for three-monthly interest payments are 0.10% pa less than the standard rates above |
| Every six months | Interest rates for six-monthly interest payments are 0.05% pa less than the standard rates above |
(i) Special Offer only. Other bonus margins cannot be applied to this rate.
(ii) Only available where interest is paid electronically into a nominated account with AMP Bank or another financial institution and no bank cheque is issued. Where interest is paid annually, the first interest payment is made after 12 months and the second interest payment is made at maturity.
(iii) Quarterly and half-yearly interest payment options are not available.
(iv) These rates apply to Direct customers (those who have applied for the product directly through AMP Bank) only. If you acquired the product through an intermediary, please contact your intermediary for current interest rates.
(v) Not available for new applicants
For full details, please read the Deposit products fees and charges guide.
Changes to interest adjustment for early withdrawal
If a term deposit is withdrawn early, the interest rate that applies to your account will be reduced by the interest rate adjustments shown in the tables below.
Early withdrawal for all customers except AMP Super Fund
| Portion of term completed | Interest rate adjustment (% reduction to your interest rate) |
| Less than 20% | 90% |
| 20% to less than 40% | 80% |
| 40% to less than 60% | 60% |
| 60% to less than 80% | 40% |
| 80% or more | 20% |
Early withdrawal for AMP Super Fund
| Portion of term completed | Interest rate adjustment (reduction to your interest rate pa) |
| Less than 25% | 2.75% pa |
| 25% to 50% | 2.25% pa |
| 50% to 75% | 1.75% pa |
| 75% to 90% | 1.25% pa |
| 90% or more | 0.75% pa |
If the original interest rate, before any adjustment is made, is less that or equal to the applicable interest rate adjustment percentage, no interest will be paid.
Full details of the changes are in the Deposit products fees and charges guide and the Deposit products terms and conditions. Please take the time to read the document at amp.com.au/bankterms.
How to apply
Who can open an account?
We’re currently accepting online applications for Personal and Sole Trader accounts only.
For all other entities, including Self-Managed Superannuation Funds and Companies, please speak to your Adviser or Fixed Income Broker.
Be alert
A number of online scammers posing as trusted financial institutions are on the rise. You can only apply for AMP Bank Term Deposits via our official website www.amp.com.au/termdeposits or through an adviser.
If you’ve been asked to deposit money to an account, or received an email or call promising special rates or asking you to apply, contact our team immediately on 13 30 30. Do not reply to or click on any links in a suspicious email or SMS. Remember AMP Bank will never send you an email or SMS asking for your personal or banking information.
Documents & downloads
Manage your Term Deposit
FAQs
What are the fees?
There are no ongoing account management fees for a Business Term Deposit. If you want to access your money before the end of your term, fees may apply. Read the Deposit products fees and charges guide for more information.
How can I apply?
If you’re a sole trader, you can apply online and it will take between 10-15 minutes to complete. You’ll need valid forms of identification and your bank account details for the initial deposit. Other entities should download and complete the appropriate application form.
Are my savings secure?
The Australian Government guarantee protects combined deposits up to $250,000 per customer.
Can I set up a direct debit?
Direct debits are not permitted on term deposits. Read our Account Access and Operating Terms and Conditions for more information.
Contact us
Mon - Fri: 8am – 8pm (AEST)
Sat & Sun 9am – 5pm (AEST)
Important information
The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517.
It’s important to consider your circumstances and read the relevant Product Disclosure Statement or Terms and Conditions before deciding what’s right for you. This information hasn’t taken your circumstances into account. Information including interest rates is subject to change without notice.
Any application is subject to AMP Bank’s approval. Terms and conditions apply and are available at amp.com.au/bankterms or 13 30 30. Fees and charges may be payable. Full details are available in the Fees and charges guide.
This information is provided by AMP Bank Limited. Read our Financial Services Guide available at amp.com.au/fsg for information about our services, including the fees and other benefits that AMP companies and their representatives may receive in relation to products and services provided to you. All information on this website is subject to change without notice.
AMP Bank is a member of the Australian Banking Association (ABA) and is committed to the standards in the Banking Code of Practice.
A target market determination for these products is available on our TMD page.
Information including interest rates is correct as at and is subject to change without notice.
1 Excludes AMP Super Fund.
2 Interest adjustment applied when accessing funds earlier than the selected term.