Following the RBA's decision to increase the official cash rate by 0.25%, AMP Bank is increasing variable interest rates across our deposit products.
New rates effective 11 May 2026
AMP Bank GO Save: 5.10%p.a. for balances between $0 to $500,000.
AMP Bank GO Save: 4.25%p.a. for balances between $500,000 to $5,000,000.
On track to remain the highest no-conditions savings account rate, plus one of the first to pass on the rate change.
Still suck on my judo bank application
Does anyone know if it’s easy to make an instant transfer of a decent sum - say $50k - to an external account. I recently discovered that it isn’t with my current bank.
dunno about AMP, but MacBank you can.
I'm waiting to see how they respond. I might transfer some money to AMP.
Apparently $50K should be fine, but amounts over $100K may have a delay up to 3 days.
https://www.amp.com.au/help-and-support/banking-faqs/payment…
Appreciate this! Just set up the new account ☺
For the sake of 0.1%, I'll stay with Macquarie.. Shame they're taking another 2 weeks to pass it on though.
Expecting little over 500k, and have decided to park them in best savings acct rate possible. Okay with hoops to jump to get the best rate possible. Should target no hoops products or maybe split between two types?Any suggestions?
Judo Bank up to $250k @5.35% (currently) with a $300 monthly deposit requirement (just set up an auto transfer from a secondary account).
Macquarie Bank / AMP Go @5.10% for the rest of the funds - no hoops so that money is always available - use this for the auto transactions to Judo (possible with Mac, not sure about AMP)
Good idea. Apart from $300 monthly deposit requirement, is there any other catches with judo.
Not currently.
Or you can jump between intro rates if you are so inclined for highest rates. Rabo and Bankwest have good no hoop intro rates (and bankwest just extended the period from 4 to 7 months for me), ubank also has a good (grow balance) intro rate. For ongoing look at Judo, BOQ/ME for good rates and straightforward hoops (and not too low caps like ING). Apart from Ubank, interest rate rises haven't been announced yet but can probably be expected in the coming weeks.
Can u elaborate on bank west offer. Dont mind hoops as long as getting best rate. So far I have noticed judo has 5.35 but only for 250k. Thanks
So their interest rate is 5.5 for 4 months, but they've done targeted offers over the past month giving existing customers this rate (or in my case extending the end date of the intro rate).
They are also a 250k limit for that rate, but given the govt guarantee is up to 250k per banking licence you probably don't want to put all 500k with one institution.
@archiexyz: Good point abt govt guarantee. Is this 5.5 after latest hike? I am assuming I have to b there existing customer for intro rate and hope to be targeted for something similar
@s0805: Before rate hike.
There was this one on 22 Apr for existing customers to end of jul: https://www.ozbargain.com.au/node/956511
And I got one on 1 May as someone that was currently on the intro rate (due to end within a week), extending it to 31 aug.
OMG it is app only?? God dayum that pisses me off. There is literally no online web version? These scumbag corps who all need their own fkn app just piss off, i want to use my desktop PC for my banking, not some tiny little pissy screen.
Use Macquarie if it's a big deal for you. Or get a phone with a bigger screen lol.
No. Iggemo requires validation, not advice - someone to sit with him for a while while he absorbs his complex predicament. Don’t worry, he’ll reach out again when he’s ready. We’re here for you Iggemo.
Love it ! Been a customer for a while now and the rates are hot!!!🔥