AMP Banking Term Deposit Accounts offer high interest rates

Friday July 10, 2009

AMP Bank is the largest retail and corporate superannuation provider in Australia and is the leading wealth management company across both Australia and New Zealand. The bank currently has over 3.4 million customers which use it selection of banking services and financial products including banking, insurance, superannuation, retirement savings and income, investments and financial planning.

Proving highly popular with AMP banks customers is its Term Deposit Account which offers a high fixed interest rate which is actually higher than most savings accounts on several of its terms. Overall, the AMP banks term deposit account can award its customers with great interest rates depending on which interest repayment option chosen and how long the account is left, with the rewards being major savings.

Additionally, the AMP banks term deposit accounts waive any banks fees, meaning you can save even more in your accounts with great interest rates.

AMP banks customers are able to put an amount of their savings into a term deposit account and choose how long they would like to leave it for with a different level of interest attached. With AMP banks, it is broken down into anywhere from 3 months to 5 years with the interest awarded as follows:

• 4.30% pa for 3 months
• 4.50% pa for 6 months
• 6.00% pa for 5 years
• The minimum opening amount for a new term deposit customers with a term between 30 and 89 days is $25,000
• Terms selected that are longer than one year, customers receive regular income by choosing to have their interest paid monthly, quarterly, half yearly and yearly

Furthermore, AMP banks customers can opt for their interest rates to be paid either through by cheque, transferred to a nominated account or added to the customer's principal at interest and reinvested. Customers can access their term deposit accounts through phone and internet access with no penalties associated with partial withdrawals in case of emergencies.

The AMP banks term deposit bank accounts are ideal for those who wish to earn a competitive rate of return and a regular income stream on their savings, to learn more compare transaction accounts here

Back to News Index | Back to Home