AMP Bank is a financial services company that was formed in 1849 as the Australian Mutual Provident Society.
The company also includes AMP Capital, one of the largest investment managers in Asia Pacific with operations throughout the world. The bank has a head office in Sydney and provides a number of services, such as financial planning and banking products as well as investment advice through AMP Capital.
AMP Bank term deposits rates
for 6 months
Next rate increased
for 8 months
for 36 months
Automatic Maturity Rollover
Early Withdrawal Available
Is Covered By Government Gurantee
Joint Application Available
Maturity Alert By Email
Maturity Alert By Phone
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This RateCity Award winner was one of the top-rated 12-month term deposits of 2020.
Term deposit interest calculator
Thinking about taking out a term deposit with AMP Bank? Use our term deposit calculator to see how much you can earn under different investment scenarios. You can also see how AMP Bank term deposits compare with other options.
Final balance at the end of term would be
at interest rate 0.65 %
Learn more about term deposits
What are the current AMP Bank business term deposit rates?
Term deposit interest rates are subject to frequent market change. To view the most current AMP Bank business term deposit rates, it’s best to view the provider’s website directly.
If you want to earn competitive rates on your fixed deposits for an amount between $100,000 and $500,000, AMP Bank deposit may worth considering. Term deposits with AMP Bank allow you to earn reliable returns for different tenures between one month and five years.
You can also choose when you want to receive the interest; monthly, quarterly, or half-yearly. If you wait until maturity, you’ll earn the full interest.
AMP Bank term deposits do not charge monthly maintenance fees. If you’re at least 13 years and an Australian citizen with a local address, you’re eligible for AMP Bank term deposit.
Are term deposits covered by the Australian government guarantee?
Yes, term deposits are covered by the Australian government guarantee.
Under the Financial Claims Scheme, the Australian government guarantees term deposits up to $250,000, capped at one person, per financial institution.
This means that your term deposit (if it’s $250,000 or less) is protected in the unlikely event the bank, building society or credit union collapses.
If you have more than $250,000 in a term deposit with one the one bank, for example, then only up to $250,000 of your principal is covered.
If you’ve got more than $250,000 and you wish to invest in a term deposit, you could consider dividing your money between term deposits and banks (limiting each deposit to $250,000 per bank).
That way all of your deposits are protected by the Australian government guarantee and you will not suffer any financial losses.
What rates offered by Citibank on business term deposits?
Citibank’s business term deposits rates vary based on how long you invest. The bank offers short-term deposits for one, three, six, nine, and 12 months. You can also invest for longer terms between two and five years. The minimum investment is $10,000, and the maximum investment is $2 million.
Can I negotiate a fixed term deposit rate with the bank?
“Can I negotiate a fixed term deposit rate with the bank?” you may be wondering.
Many banks welcome negotiation when it comes to term deposit rates, especially with deposits of over $100,000. Even if your deposit is lower than $100,000, it may be worth a discussion with your bank.
Negotiating with your bank could secure you a higher fixed rate, which will earn you extra interest over your term. You may also discover bonuses or special offers you can acquire through your bank.
Securing the highest interest rate possible is the key to making the most of your term deposit. You may have compared deposits online or discussed your options with a financial adviser, but you also might be wondering about negotiation in order to get a better rate.
What is a term deposit account in a bank?
A term deposit account in a bank is a type of investment where you lock away a portion of your savings for a fixed period in return for earning a set amount of interest.
Opening a term deposit account in a bank is a safe way to earn a stable return on your investment of cash.
Term deposit accounts can be a good way to give your savings an extra boost without the need to actively watch or manage your funds during the term of the deposit.
Term deposit accounts in a bank are a popular type of investment because they’re safe and there’s very little risk that you could lose your money.
If you make a term deposit of up to $250,000 with an authorised deposit-taking institution, it’s guaranteed by the Australian government, which means there’s virtually no risk of losing your money and you’re guaranteed return.
Interest rates vary depending on the length of the term, the amount you deposit and the bank you choose.
Can students make term deposits?
If you are a student who has managed to save some money and are looking for a safe investment option, you may be considering a term deposit. Most term deposits (and other bank accounts) are open to anyone who is at least 18 years old.
There are also some term deposits open to younger students, some even without an age limit. These term deposits are usually opened on the student’s behalf, by their parent or guardian.
A term deposit is generally a safe investment option, especially if you want to make sure you can’t touch your savings for a set period of time. If you are 18 or older, shop around for a competitive interest rate before committing. If you are under 18, speak to your parent or guardian to get started.
What are ME Bank’s term deposit interest rates for businesses?
ME Bank offers a variety of rates for business term deposits, depending on the amount of time you choose. You won’t have to pay any set-up or account-keeping fees for your business deposit. You can invest as little as $5,000 or as much as $2 million with a term duration between one and 60 months.
The ME business term deposit rate is determined based on the term and when you wish to receive interest payments.
While rates are set by the lender, you should always check with ME Bank to find out what the term deposit rates are, and which are applicable to your situation.
How do term deposits work?
Term deposits are flexible, low-risk, and earn you interest over time. But before you apply to open a term deposit, you might be wondering: how do term deposits work?
A term deposit is an agreement you make with a financial institution. This agreement will specify a certain amount of money that you will give the bank for a certain amount of time. In return, you’ll earn a fixed amount of interest on your deposit throughout your term.
Term deposits work as an exchange between a financial institution and an individual. You can think of your term deposit as a loan to the bank. Because you’ve loaned the bank your money, they’re willing to pay you interest on your deposit.
What are Bendigo Bank’s business term deposit rates?
Bendigo Bank offers businesses two types of term deposits - Standard and Gold. You can open a Standard term deposit by investing at least the specified minimum amount for a flexible investment period ranging up to five years. A Gold term deposit requires a larger minimum investment over a fixed term, which is currently one year.
However, you can’t add funds to a Standard term deposit after the first seven days, and any withdrawals before the review date need to be done on request. If you’ve opened a Gold term deposit, you can add more funds over the year, but withdrawals may be restricted just as with a standard term deposit.
A Standard term deposit’s interest rate depends on the amount deposited, the frequency of compounding interest, and the deposit term. Further, this interest rate may apply irrespective of how often interest is compounded. On the other hand, Gold term deposits usually offer a flat interest rate no matter how large or small the deposit, with the interest likely compounded every quarter.
To find out about Bendigo Bank’s current business term deposit rates, visit the banks’ website.
What are Macquarie Bank’s business term deposit rates?
Macquarie Bank’s business term deposit rates vary depending on the duration you choose. Terms start at one month and go up to five years.
You can invest any amount between $5000 and $1,000,000 and you won’t be charged a fee. You’ll also have the flexibility of choosing when you want to receive the interest and have the option to roll over the balance once the TD matures. You can ask to have the interest deposited into another bank account if you wish.
The latest Macquarie Bank term deposit rates can be found here.
Are term deposits safe?
Term deposits can be a great way to build your savings, but before you invest, you might have one important question. Are term deposits safe?
When it comes to investing your money, you can choose between high-risk and low-risk options. High-risk options tend to have a better potential payout, but you also risk earning no profit at all or even losing your original investment.
Low-risk options tend to earn less profit than high-risk options, but they’re also safer, with little to no risk of losing money. Term deposits fall into the low-risk category.
Term deposits are safe because they’re low-risk, but they’re also protected by the Australian government’s Financial Claims Scheme. This government guarantee will insure your deposit for up to $250,000 per person, per institution, meaning that even if the bank collapses, the government will reimburse you for your deposit.
What are Suncorp Bank's term deposit rates for businesses?
A term deposit with Suncorp Bank allows you to lock away a specific amount of money at a fixed interest rate for a nominated period. You will need to make a minimum investment of $5,000 and up to $2,000,000, and can select a period from one month to 36 for your investment. Term deposit investments ranging from one to 12 months are based on interest paid at maturity, while investments from 12 to 36 months are based on interest paid annually.
While the interest rate will differ based on your investment amount and term duration, here are some of the most popular Suncorp Bank business term deposit rates as of January 2021:
|4 Months||0.50% p.a.||0.55% p.a.||0.60% p.a.|
|7 Months||0.55% p.a.||0.60% p.a.||0.65% p.a.|
|12 Months||0.50% p.a.||0.55% p.a.||0.60% p.a.|
|24 Months||0.65% p.a.||0.70% p.a.||0.75% p.a.|
Please note that these interest rates are effective from 13th November 2020 and are subject to change without notice. Moreover, if you choose from an early withdrawal, the interest rate will be adjusted, and other charges are likely to be applied.
What are the Commonwealth Bank business term deposit rates?
You can invest surplus funds in a Commonwealth Bank (CBA) business term deposit for between one month and five years. The minimum deposit amount required by Commonwealth Bank is $5,000. The CBA business term deposit interest rates are based on the length of time or term you set when first investing your funds. Each term attracts different interest rates.
When it comes to other fees, there are no establishment fees or ongoing account keeping fees for business term deposits. The CBA business term deposit rates are fixed, so you know the exact amount you will receive on maturity. But suppose you want to withdraw the amount before maturity. In that case, you need to give 31-days’ notice and may also have to pay an admin fee, and the interest rate may also be reduced.
You can open a CBA business term deposit if you’re over 18 years and possess a Tax File Number (TFN) and Australian Business Number (ABN) for your business.
You can find the current rates on CBA's website.
Will term deposit rates increase?
While there’s no definite way to predict when term deposit rates will increase, it may help to understand some of the factors that influence term deposit interest rates.
The official cash rate is set by the Reserve Bank of Australia (RBA). When the RBA either increases or cuts interest rates, it influences the interest rates set by banks.
The other factor that determines when term deposit rates will rise is competition between banks. Banks may increase their term deposit rates or offer higher rates as an incentive to win new customers over or increase their market share.
Term deposit interest rates will also change, depending on how much you invest and how long you invest.
How often do term deposit rates change?
One of the advantages of a term deposit is that this type of investment enjoys a fixed interest rate. This means that the interest rate that you have signed up for will not change during the period of your term deposit, regardless of rising or falling market interest rates.
However, it is important to be aware of the end of your term deposit. Once your term ends, whether this is in three months or three years, many banks will default to rolling over your deposit into a new term, sometimes with a lower interest rate. Once your term deposit rolls over, you will then be locked into this new fixed interest rate for another term.
Make sure to use the grace period at the end of your term to your advantage. Shop around for a competitive interest rate and reinvest your money accordingly.