AMP Term Deposit Rates Comparison

Part of finding the best term deposit rates is choosing the term deposit account which is best for your needs first. If you choose an account simply because it offered high interest then you may not be using the right investment product, and may not get the best returns in the long run. Instead, once you have looked at your budget to determine how much you can afford to invest, and after you have clarified your savings and investment needs so you have an idea of the term which will be best for you, start comparing the specifics of the top Australian term deposit accounts, including the AMP term deposit.

Features of the AMP Term Deposit Account

There are some features which are specific to all term deposits such as a fixed account and a guaranteed interest rate, however, the rest of the choices you make can depend on the term deposit provider you choose. To help you decide whether the AMP term deposit rates and features suit you, are you looking for features such as:

• A minimum investment amount of $5000. If you have $5000 or more to invest you can choose any term longer than two months and up to five years, if you want to invest for just one or two months, you will need at least $25,000. However, starting with a $5000 investment in a three month term deposit will earn you great AMP term deposit rates and help you enjoy the benefits of term deposit investments. Plus, even if you want to just test the term deposit waters with the minimum investment amount, a three month term can go by very quickly, especially when you aren’t required to manage the account, and your interest is calculated automatically, and can be paid directly into your bank account at maturity.
• You can complete an entire application online if you like. If you follow our secure links to the AMP website, you can complete a term deposit application with AMP in just minutes. Or you can choose to print out the application form and fill it out when it suits you, before positing it back to the bank.
• You can choose interest income on terms longer than 12 months. If you choose an AMP term deposit account with a term longer than a year, you can choose to have your interest paid monthly, quarterly, six monthly or yearly. In your application you will need to nominate a bank account, but from that point your interest income can be automatically deposited to your account, or you can choose to have it sent by cheque, although cheque payment is not available on 13 month terms. If you choose to have your interest paid at maturity on any term, you can choose the same electronic or cheque payments.
• Upfront calculations of AMP term deposit rates for interest paid during your term. AMP makes it very easy to see the differences it can make to your interest rate, if you choose to have your interest paid during your term. Clearly set out is the advice that: if you choose monthly returns your interest rate will be reduced by 0.20%; if you choose quarterly returns your interest will be reduced by 0.10%; and if you choose six monthly returns your interest will be reduced by 0.05%. This allows you to make quick comparisons from the standard AMP term deposit rates, to see how your choices fit within an AMP term deposit account.

Current AMP Term Deposit Rates

To help with your comparisons of an AMP term deposit account, following are the current interest rates offered on a $5000 – $24,999 investment amount, with interest paid at maturity:

• On a three month term you can earn 5.30% interest.
• On a 12 month term you can earn 5.15% interest.
• On a five year term you can earn 5.50% interest.

To make comparisons of AMP term deposit rates to other term deposit accounts you have been considering, view our comparison tables here. If you have found that an AMP term deposit account meets your needs, you can follow our secure links from the comparison table to complete your online application in just minutes.

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