AMP Bank Term Deposit Review (2026)
Rates and details verified 24 June 2026
Rates can change without notice. Last verified: 24 June 2026 (AEST). Please confirm details on the bank’s official page.
Best rate
5.40%
p.a. — 12 months
6-month rate
5.15%
p.a. at maturity
Minimum deposit
$5,000
personal TD
About AMP Bank
AMP Bank is the banking arm of AMP Limited, one of Australia's largest financial services companies. AMP Bank is an ADI regulated by APRA, and deposits are protected under the Government's Financial Claims Scheme up to $250,000 per depositor.
AMP's GO Term Deposit product offers competitive rates at both the 6-month and 12-month terms. With a $5,000 minimum, it suits savers looking for a reliable, higher-rate alternative to the big four banks.
Rates by Term
| Term | Rate (at maturity) |
|---|---|
| 6 months | 5.15% p.a. |
| 12 months | 5.40% p.a. |
| Early withdrawal | Penalty applies — 31 days notice |
Rates as at 24 June 2026. Check AMP Bank's website for the latest.
Pros and Cons
Pros
- ✓ 5.40% p.a. for 12 months — near the market's best
- ✓ 5.15% p.a. for 6 months — strong short-term rate
- ✓ APRA-regulated ADI — FCS-protected to $250k
- ✓ Established brand — AMP has been in Australia since 1849
Cons
- ✗ $5,000 minimum — higher than Judo Bank ($1,000)
- ✗ Limited term range (6m and 12m only at competitive rates)
- ✗ Penalty for early withdrawal
How It Compares
AMP leads this group on the 12-month term, just ahead of Judo Bank, and matches Judo's 6-month rate at 5.15%. For savers who prefer a larger, more established institution, AMP is a strong option.
- AMP Bank Term Deposit (GO)Reviewed here5.40% (12 months) — $5,000 min
- Judo Bank Personal Term Deposit5.35% (12 months) — $1,000 min
- Macquarie Bank Term Deposit5.25% (12 months) — $5,000 min
- Great Southern Bank Term Deposit5.45% (12 months) — $5,000 min
Compare head-to-head
Related guides
FAQs
What is AMP Bank's best term deposit rate?
5.40% p.a. for 12 months (at maturity). The 6-month term offers 5.15% p.a.
Is AMP Bank safe?
Yes — AMP Bank is an APRA-regulated ADI. Deposits up to $250,000 are covered under the Financial Claims Scheme.
What is the minimum deposit?
$5,000 for AMP Bank GO term deposits.
Information verified 24 June 2026. Confirm rates, fees, and eligibility on AMP Bank's website before applying. This is not financial advice. Deposits protected up to $250,000 under the Financial Claims Scheme.