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AMP Saver Account, Up to 2.6% p.a. Interest ($250/Month Min Deposit), No Monthly Account Keeping Fee @ AMP

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AMP Saver Account, Up to 2.6% p.a. Interest ($250/Month Min Deposit), No Monthly Account Keeping Fee @ AMP
Go to Deal
digitale on 05/08/2022 - 17:20 amp.com.au (216 clicks)
Last edited 26/09/2022 - 13:00 by 2 other users

From 8 August 2022. Subject to meeting minimum deposit in prior month.

We’ve got some great news we’d like to share with you. We’re increasing the AMP Saver Account variable standard rate by 0.50% pa.
This means your standard variable interest rate will increase from 0.10% pa to 0.60% pa^ effective 8 August 2022 and if you meet the eligibility criteria, you can earn up to 2.60% pa* on your AMP Saver Account.

0.60% pa standard rate + 2.00% pa Deposit Bonus Interest Rate 2.6% = PA Total rate.
This is the ongoing standard variable rate on all balances. This is the ongoing bonus variable rate when you deposit $250 in the previous month. Payable on balances up to $250,000. This is the total variable rate which applies to balances up to $250,000, made up of the standard rate and the Deposit Bonus Interest Rate (subject to eligibility).
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closed Comments

  • Drakesy on 05/08/2022 - 17:39
    +3

    Still can't shake the fee for no service image.
    Shady bank
    Ubank is still better in a month's time.

    • muwu on 05/08/2022 - 19:08

      Ubank is still better in a month's time

      Actually UBank is still better right now. UBank applies the interest to the current month in which you meet eligibility, while AMP won't apply the interest until the next month. So AMP is behind on both rate and time.

      • Candour on 06/08/2022 - 11:51

        ubank just wrote to me it is 2.35%? $ 200/mth deposit. AMP was spun off from the big australian mutual insuance and was very expensive on its reputation.
        banking?
        ing introduced this for years. online banking. I moved to ubank as it had less requirements than ing now.

        • Educatedfool on 07/08/2022 - 10:02
          +1

          ubank passed full 0.5 on savings. so it is 2.85 from sep 22…

          Earn up to 2.85% p.a.
          From 1 September 2022, we’ll be increasing our bonus interest rate to 2.75% p.a. for both our Save and USave accounts. Our base rate will remain at 0.10% p.a., meaning you’ll be able to earn interest up to 2.85% p.a. across all your eligible ubank accounts.

  • tharlow on 05/08/2022 - 17:44
    +11

    Great rate from one of Australia’s great companies. You don’t even need to be alive to be a customer, which is certainly going above and beyond

    • Drakesy on 05/08/2022 - 17:53
      +2

      It really is an untapped market
      We're all out here playing chess whilst AMP is playing Checkers.

  • 17833 on 05/08/2022 - 17:47

    Sigh, I just moved my money out of AMP as they hadn't increased their interest rates. The service at the new bank I moved to is considerably worse.

    • tharlow on 05/08/2022 - 17:49
      -1

      You don’t have to push it uphill. Get a wheelbarrow or briefcase, depending on your needs, and call an Uber

  • Matta955 on 05/08/2022 - 17:53

    Does bonus interest apply for the first month?

    • muwu on 05/08/2022 - 19:10

      No, the next, as in the one after you meet the eligibility criteria

  • hamwhisperer on 05/08/2022 - 17:55
    -5

    DO NOT DEAL WITH AMP.

    DO NOT DEAL WITH AMP.

    DO NOT.

    https://www.ozbargain.com.au/comment/12152728/redir

    (and see the replies)

    &

    https://www.ozbargain.com.au/comment/12156482/redir <- true story.

  • billy_bob on 05/08/2022 - 18:00

    Macquarie Bank has 2.35% p.a. on a 3-month term deposit or 2.7% on a 6 month Term Deposit, if you don't want to deal with AMP.

  • Agent Q on 05/08/2022 - 18:16
    +2

    Macquarie have 3.10% high interest savings account for first 4 months for new accounts

    • FujiFruit on 05/08/2022 - 19:51

      Wow, might move there soon

  • LittleTicket on 05/08/2022 - 18:32
    +3

    Won’t neg the deal but:
    - MQG 3.1% for 4 months on their savings account
    - Ubank with 2.85% ongoing with same conditions
    - ANZ Plus 2.5% with no conditions.

    DYOR

    • FujiFruit on 05/08/2022 - 19:46

      It’s still low, they should have made a better rate for me to move , I’m already getting 2.6% from Citibank and I’m sure they will increase it soon

      • huntabargain on 05/08/2022 - 20:17

        2.6% for first 4 months then 1.6%, right?

        • izkai67 on 07/08/2022 - 10:27

          no, it's ongoing, not bad at all, and the only thing you have to do is make min $250 deposit every month. I had no problem withdrawing my money last time moved to another bank. But, they do have some issue which turn some people off.

        • izkai67 on 07/08/2022 - 10:31

          correction: I was talking about AMP not realizing you mean citibank

    • Homr on 04/09/2022 - 14:09

      Does Ubank allow withdrawels without penalties?

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