The AMP Notice Account has no minimum opening balance and a generous maximum balance of $10 million. Interest is calculated daily and paid monthly.

Customers must provide a minimum of 31 days’ notice to withdraw funds.

AMP Bank Chief Operating Officer Rob Slocombe said the account is suitable for everyone from retail customers wanting to save more to wholesale investors looking for a competitive rate for their funds.

“This is a real set and forget account as it offers a great rate all the time, so there’s no need to shop around. It allows you to access a highly competitive interest rate without having to lock your money up for a long time, offering the best of both a term deposit and a high interest savings account.

“Unlike a term deposit, there’s no maturity date so you can top it up any time with unexpected lump sums or regular contributions. There’s also no penalty for putting your money on notice, so you can access it within 31 days.

“The account balance is treated separately from the $5 million maximum account balance for other AMP Bank deposit products. This means customers can have an AMP Notice Account in addition to their shorter-period term deposits with AMP Bank,” Mr Slocombe said.

AMP Notice Account features:

• Variable interest rate set at a minimum of 100 basis points above the Reserve Bank of Australia Cash Rate Target
• Customers must provide at least 31 days’ notice to access funds
• Ability to add to balance whenever you want
• No opening or ongoing fees
• No minimum opening balance
• Maximum balance $10 million
• Limit of two withdrawals per month with a minimum of $500 per withdrawal.

The AMP Notice Account is available now to new and existing customers.

Full details can be found in the AMP Notice Account can be found at www.amp.com.au/bank.

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