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  4. Term Deposit

Term Deposit

  • 3 months
  • Automatic maturity rollover
  • Joint application available
  • Interest payment to other institution

Interest rate

4.70%

Maximum rate

4.95%

for 6 months

Term Deposit

  • 3 months
  • Automatic maturity rollover
  • Joint application available
  • Interest payment to other institution

Interest rate

4.70%

Maximum rate

4.95%

for 6 months

RateCity says

"This RateCity Award winner was one of the top-rated 12-month term deposits of 2020. "

Pros and Cons

For Term Deposit

Benefits

  • Interest can be paid to other institution
  • Automatic maturity rollover

Drawbacks

  • 31 days notice to withdraw funds before maturity and interest rate adjustment will apply to interest earned on funds

AMP Bank Rate Term Deposit overview

For Term Deposit

Features

Min deposit

$25,000

Automatic maturity rollover

Maturity alert by phone

Maturity alert by email

Joint application available

Minimum age requirement

18

Notice period to withdraw

31

Is covered by government guarantee

Target Market Determination

Visit AMP Bank Limited to view Target Market Determination.

Interest

Interest calculation frequency

Daily

Interest payment frequency options

At Maturity, Annually

Interest payment via other institution

Interest payment method

Cheque, Direct Credit, Rollover on maturity

Fees

Account keeping fee

$0

Early withdrawal fee

Rates

TermRates on deposit of ($5,000 - $24,999)Rates on deposit of ($25,000 - $10,000,000)
3 months4.70%4.75%
4 months4.70%4.75%
5 months4.50%4.55%
6 months4.90%4.95%
7 months4.75%4.80%
8 months4.70%4.75%
9 months4.85%4.90%
10 months4.90%4.85%
11 months4.70%4.75%
1 year4.70%4.75%
2 years4.15%4.20%
3 years3.25%3.30%
4 years3.25%3.30%
5 years3.25%3.30%

Other Restrictions

Early withdrawal interest rate adjustment applicable.