Following the Reserve Bank of Australia’s (RBA) decision to increase the official cash rate by 0.25 per cent, AMP Bank has announced interest rate changes for customers.

The interest rates for variable rate home loans will increase by 0.25 per cent per annum (pa) effective 10 March 2023 for new customers and 13 March 2023 for existing customers.

Interest rate increases have been made for the below savings and deposit products:

• AMP Saver Account variable deposit bonus interest rate will increase by 0.50 per cent pa effective 1 May 2023, and customers can earn up to 4.60 per cent pa (eligibility criteria apply)¹.
• Welcome bonus² rate for new AMP SuperEdge Saver customers will increase by 0.80 per cent pa effective 20 March 2023 and eligible new customers can earn up to 3.80 per cent pa.
• AMP Notice products³ will increase by 0.25 per cent pa effective 13 March 2023.
• Cash account rates offered by AMP Bank to investment clients through AMP wealth platforms will increase by 0.25 per cent pa effective 13 March 2023.

AMP Bank is committed to providing competitive rates for both home loan customers and savers to help them manage their budgets and achieve their financial goals.

The Bank continues to regularly review its products to ensure they remain competitive and meet customer needs.

For more information on home loan rate changes, customers can visit amp.com.au/interest-rate-update.

Information on banking accounts can be found at amp.com.au/banking.

Target market determinations for AMP Bank products are available at amp.com.au/banking/info/target-market-determinations.

¹ Up to 4.60 per cent pa ongoing variable rate on balances up to $250,000 effective from 1 May 2023. Offer is limited to one account per person. For any portion of the balance over $250,000 and up to $5,000,000 the interest rate reverts to the standard rate only. The maximum ongoing balance per customer name is $5,000,000. For more information, see amp.com.au/saver/reward-rules. 

² Eligibility criteria applies. Full terms and conditions are available at amp.com.au/banking/smsf-accounts/amp-superedge-saver-account.

³AMP Bank’s AMP Notice Account, AMP 6-month Notice Account, AMP Notice Account Financial, AMP 6-month Notice Account Financial. 

^{The product issuer and credit provider is AMP Bank Limited ABN 15 081 596 009, AFSL and Australian credit licence 234517}