AMP savings and bank accounts

AMP offers a range of different bank accounts, including a unique three-in-one pay, spend and save bundled account.

3.6 ★★★★★ (65 reviews) Write a review
AMP Bank

AMP savings accounts, bank accounts and term deposits.

Product AUFSA Finder Score Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.95%
Standard Variable Rate p.a.
0.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Grow balance by at least $250
  • Balances up to $500,000
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.75%
Standard Variable Rate p.a.
4.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • Balances $10,000.01 to $250,000.
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
0.75%
Standard Variable Rate p.a.
0.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.40%
Standard Variable Rate p.a.
2.95%
Intro/Ongoing
6 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
0.35%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.00%
Standard Variable Rate p.a.
2.50%
Intro/Ongoing
6 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
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How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Name Monthly fee Govt. Guarantee Own network ATM fee Card type
AMP Cash Manager
AMP Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
AMP Access Account
AMP Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
AMP Offset Deposit Account
AMP Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$6
Government Guarantee
Own network ATM fee
$0
Card type
Visa
More Info
AMP Business Access Account
AMP Bank logo
Apple Pay Google Pay Samsung Pay
Monthly fee
$0
Government Guarantee
Own network ATM fee
$0
Card type
Visa
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Showing 4 of 4 results
Name 3 Mths p.a. 4 Mths p.a. 5 Mths p.a. 6 Mths p.a. 7 Mths p.a. 11 Mths p.a. 12 Mths p.a. 24 Mths p.a.
AMP Term Deposit $5000+
AMP Bank logo
$5,000 min. deposit$24,999 max. deposit
3 Mths p.a.
4.55%
4 Mths p.a.
4.40%
5 Mths p.a.
4.40%
6 Mths p.a.
4.45%
7 Mths p.a.
4.30%
11 Mths p.a.
4.25%
12 Mths p.a.
4.30%
24 Mths p.a.
3.95%
More Info
AMP Term Deposit $25,000+
AMP Bank logo
$25,000 min. deposit$5,000,000 max. deposit
3 Mths p.a.
4.60%
4 Mths p.a.
4.45%
5 Mths p.a.
4.45%
6 Mths p.a.
4.50%
7 Mths p.a.
4.35%
11 Mths p.a.
4.30%
12 Mths p.a.
4.35%
24 Mths p.a.
4.00%
More Info
AMP Business Term Deposit
AMP Bank logo
$5,000 min. deposit$24,999 max. deposit
3 Mths p.a.
4.55%
4 Mths p.a.
4.40%
5 Mths p.a.
4.40%
6 Mths p.a.
4.45%
7 Mths p.a.
4.30%
11 Mths p.a.
4.25%
12 Mths p.a.
4.30%
24 Mths p.a.
3.95%
AMP Business Term Deposit $25,000+
AMP Bank logo
$25,000 min. deposit$10,000,000 max. deposit
3 Mths p.a.
4.60%
4 Mths p.a.
4.45%
5 Mths p.a.
4.45%
6 Mths p.a.
4.50%
7 Mths p.a.
4.35%
11 Mths p.a.
4.30%
12 Mths p.a.
4.35%
24 Mths p.a.
4.00%
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Showing 4 of 4 results
Product AUFSA Finder Score Maximum Variable Rate p.a. Base interest rate Intro/Ongoing Government Guarantee Monthly Max Rate Conditions
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
4.40%
Standard Variable Rate p.a.
2.95%
Intro/Ongoing
6 months
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
0.75%
Standard Variable Rate p.a.
0.75%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
AMP Bank logo
Finder score
Maximum Variable Rate p.a.
0.35%
Standard Variable Rate p.a.
0.35%
Intro/Ongoing
Ongoing
Government Guarantee
Monthly Max Rate Conditions
  • N/A
View details
loading

How the Finder Score helps you find a better savings account

The Finder Score is a simple score out of 10. The higher a savings account's score, the better we think it is for the average customer.

We score each savings account in our database of hundreds based on a data-driven methodology with 2 main criteria: Does the account offer a high interest rate? And is it easy for savers to actually earn that rate?

Read the full Finder Score breakdown

Sarah Megginson's headshot
Our expert says

"The best thing about AMP's high interest savings account is it's really easy to earn the bonus interest. You only need to transfer $1000 a month into the savings account to qualify, even if you simply transfer that money from another AMP account. You can withdraw as much as you like, finish the month with a lower balance and there's nothing else you need to remember to qualify. I set up an auto-transfer from my offset account each month, so it's a great 'set and forget' money-earner."

Personal finance expert + media spokesperson

Quick facts about AMP

  • AMP has been operating in Australia since 1849
  • AMP is a wealth manager that specialises in financial planning, investment, insurance, wealth generation and retirement products
  • AMP operates in both Australia and New Zealand

Different accounts that AMP offers

AMP offers a range of different account which you can see in the tables above. Here's a few of the popular account options offered by the bank.

AMP Access Account

This is AMP's main day-to-day transaction account product. It has no monthly account keeping fee and no minimum balance requirement to meet. It comes with a Visa debit card which you can use anywhere Visa is accepted around the world, including for online transactions.

Read our full review of the AMP Access Account.

AMP Saver Account

This savings account offers an ongoing total bonus variable rate of 4.95%p.a. if you deposit $250 (to be increased to $1000 effective 1 Feb 2023) into an AMP Saver Account in the previous month, with no monthly spend requirements to meet.

Read our full review of the AMP Saver Account.

AMP Term Deposit

You can open an AMP Term deposit with a minimum deposit of $5,000. You can choose a term length between 30 days and 5 years, and you'll earn a fixed interest rate for the length of your term.

Read our full review of the AMP Term Deposit.

What do Australians think of AMP Bank bank account?

  • 3.49/5 overall for Customer Satisfaction - lower than the average of 4.11, and this was the lowest score in the category
  • 3.84/5 for Trust - lower than the average of 4.43
  • 3.42/5 for Customer Service - lower than the average of 4.07, and this was the lowest score in the category

Based on AMP Bank bank account scores in Finder's 2024 Customer Satisfaction Awards.

Different ways to bank with AMP

AMP offers many different ways to do your banking.

AMP bank branches

AMP has around 35 bank branches in Australia, most of which are in Sydney and the other major cities.

ATMs

AMP doesn't have it's own ATM network. It used to be part of the rediATM network, however it no longer is. While there are no AMP ATMs, you can use your Australian debit card at roughly 10,000 ATMs in Australia owned by Westpac, CommBank, ANZ and NAB for free.

Bank@Post

If you need to deposit cash into your AMP account, you can do this at a participating Australia Post shop using Bank@Post. It's free to deposit cash into your account this way.

AMP Internet and mobile banking

AMP's Internet Banking platform is called My AMP. You can log in 24/7 to review transactions and balances, pay bills, transfer money between accounts and make BPAY payments. You can also view and download your statements and open new AMP deposit accounts.

The AMP app is free to download, and has a 2.5 star rating in the App Store and a 2.6 star rating in the Google Play store. You can do your day-to-day digital banking using the app, and set up alerts for when money goes into or out of your account.

AMP contactless payment options

AMP offers Apple Pay, Google Pay and Samsung Pay to customers with an AMP debit or credit card.

Pros and cons of banking with AMP

The pros

  • Bonus interest. The AMP Saver account offers bonus interest on your savings.

The cons

  • Limited branches. AMP operates mostly online, with few branches in Australia available for customers.
  • No ATM network. AMP doesn't have its own ATM network. However, you can access a Big Four bank ATM for free.
  • Lower term deposit rates. The AMP Term Deposit rates are less competitive than some others in the market.

How to apply for an AMP account online

You can apply for a new AMP account online in less than 10 minutes. Just make sure you meet the eligibility criteria and have the necessary documents handy before you start your application.

Eligibility

  • You're over 18 years old
  • You're an Australian resident for tax purposes
  • You have an Australian phone number and residential address

Documentation

  • Personal details like your name, date of birth, residential address, phone number and email address
  • ID documents such as your driver's licence, Medicare card, passport or proof-of-age card

If you haven't found what you're looking for yet, you can compare a wide range of additional savings accounts and bank accounts from other providers with Finder.

Compare other products from AMP

Your reviews

3.6
★★★★★(0)
5
4
3
2
1

All user-submitted reviews must meet our review guidelines. These set out our standards and expectations, including that the review is from by a genuine user of the relevant product or service and that it is honest, authentic and respectful. We explicitly prohibit fake or otherwise misleading reviews and we check all submissions, but we make no guarantee as to the authenticity of any published review or reviewer. Some reviews may be submitted (regardless of sentiment) in exchange for entry into any competition(s) for which we are the promoter.

10 of 65 reviews

★★★★★ (SA) 1 year ago

Via customer survey commissioned by Finder


★★★★★ yabbitboy (WA) 1 year ago

Via customer survey commissioned by Finder

offers competitive interest rates


★★★★★ yabbitboy (WA) 1 year ago

Via customer survey commissioned by Finder

comprehesive banking app


★★★★★ Rae51 (VIC) 1 year ago

Via customer survey commissioned by Finder

its ok but there fees are way too high and there is no customer service since they changed from aamp


★★★★★ (NSW) 1 year ago

Via customer survey commissioned by Finder


★★★★★ (WA) 1 year ago

Via customer survey commissioned by Finder


★★★★★ I would like to use the name big spender (NSW) 1 year ago

Via customer survey commissioned by Finder

It offers competitive interest rates


★★★★★ (NSW) 1 year ago

Via customer survey commissioned by Finder


★★★★★ (NSW) 1 year ago

Via customer survey commissioned by Finder


★★★★★ Slodger (VIC) 1 year ago

Via customer survey commissioned by Finder

Very reliable and professional business to deal with


Alison Banney's headshot
Written by

Editorial Manager, Money

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 bio

Alison's expertise
Alison has written 631 Finder guides across topics including:
  • Superannuation
  • Savings accounts, bank accounts and term deposits
  • Budgeting and money-saving hacks
  • Managing the cost of living

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8 Responses

    Default Gravatar
    LeanneOctober 30, 2024

    I would like to open an account please. I have already been sent a Visa debit card.

      AvatarFinder
      AngusOctober 31, 2024Finder

      Hi Leanne, We’re a comparison site, not AMP itself – if you want to open an additional account with AMP, you’ll need to contact the bank directly. The phone number for their banking division is 13 30 30.

    Default Gravatar
    BruceSeptember 16, 2024

    Does this bank do cardless cash

      AvatarFinder
      RichardSeptember 17, 2024Finder

      Hello Bruce I can’t find anything on AMP’s website that mentions cardless cash unfortunately.

    Default Gravatar
    PaulSeptember 28, 2023

    The rate of home loan how the rate of home loan

    Default Gravatar
    HongJanuary 3, 2023

    Deposit to earn bonus to increase to $1000, is this to increase the balance every month or this amount can be withdrawn!

      AvatarFinder
      AlisonJanuary 13, 2023Finder

      Hi Hong,

      According to AMP’s site, you just need to deposit this amount per month. There are no conditions stated about having to keep the money in the account.

      Thanks,
      Alison

Read more on Bank Accounts

  • AMP SuperEdge Saver Account

    Let your excess SMSF savings work hard for you in a high interest savings account that still allows you to access your money whenever you need it.

  • AMP SuperEdge Cash Account

    Give your SMSF an edge with a flexible account that keeps your money secure and earning interest while you are waiting for the next investment opportunity.

  • AMP Offset Deposit Account

    Own your home outright sooner than you hoped by cutting interest payments every month with an Offset Deposit Account.

  • AMP Cash Manager

    Spend and save from one convenient account that provides you with Visa power to make all of your daily purchases.

  • AMP Access Account

    With AMP, you get an inexpensive and easy way to manage your spending as well as a safe hub to transfer money to your other interest earning accounts.

  • AMP Bank term deposit $5000+

    The flexibility of terms with the AMP term deposit will make it easy to meet savings goals that are coming up in the next few years or in the near future.

  • AMP Saver Account

    The AMP Saver Account offers a bonus rate when you meet the account conditions, encouraging you to grow your savings.

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