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AMP Term Deposit 2.75% 4 Months for Previous AMP Saver Holders

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AMP Term Deposit 2.75% 4 Months for Previous AMP Saver Holders
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rocky7st on 09/07/2019 - 23:22 amp.com.au (282 clicks)

For those that have previously held an AMP Saver account making them ineligible for
https://www.ozbargain.com.au/node/467579 then this is their offer for you. 4 months term deposit at 2.75%
I never thought I would get a TD at these rates but desperate times

Customers who open a new 4 month AMP Term Deposit can enjoy a guaranteed return for four months from the day the account is opened.

Apply online before 31 July 2019 to make your happily ever after a reality.

1 Customers must apply before 31 July 2019 using the Apply now button on this page and be existing or former account holders of an AMP Saver Account or eASYSaver account. Period is fixed for 4 months from opening date of the term deposit. The opening date is the date the account is set up and funds are received. Eligible customers can only open one term deposit as part of this special offer.

Financial Term Deposit

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closed Comments

  • Riczter on 10/07/2019 - 01:21
    -1

    2.9% for 1 month with ratesetter. Yes its a different investment vehicle and TDs are safer, but locking your money away for only a 2.75% return doesn't make a lot of sense to me when there are other reliable services available

    • [Deactivated] on 10/07/2019 - 05:58
      +4

      Same goes with 2.9% and added risk.

  • coprocessor8087 on 10/07/2019 - 07:59

    Big company super policies have been moving away from this trashed brand. Your 2.9% interest will most likely be eaten by 'fee for no services'.

  • mitch21 on 10/07/2019 - 08:38

    Do you want some life insurance with that?

  • xyron on 10/07/2019 - 08:45
    +2

    With interest rates at 1% you really should be doing something with your money other than just leaving it in cash.

    • orapronobis on 10/07/2019 - 09:28
      -2

      Would keeping extra cash in my offset account and keeping it liquid be better than grabbing this offer?

      • punkman on 10/07/2019 - 09:31
        +3

        is your mortgage rate greater than 2.75%?

      • xyron on 10/07/2019 - 09:36
        +3

        Unless your interest rate is below 2.75% you would be absolutely mad to get this instead of pile your extra cash into your offset (which is what I do). You don't pay tax on the interest you avoid (as compared to the interest you earn).

      • MaccDogg on 10/07/2019 - 10:31
        +1

        Dunno why you were negged. It's likely that your cash is better off in your offset account to save you roughly 4% with no tax, as opposed to the term deposit which would make you only 2.75% minus tax (~2% earnings)

        • orapronobis on 10/07/2019 - 21:17

          Thanks all for being positive and reinforcing what I initially thought as the way to go - keep it in offset.

      • lostn on 10/07/2019 - 14:08
        +2

        Absolutely an offset account is better. The rate is higher and you don't get taxed on it.

  • lostn on 10/07/2019 - 14:07

    term deposits are worth less than inflation. You are losing money just by putting it into them.

    • punkman on 10/07/2019 - 21:41
      +4

      Not true, inflation is 1.3. You wont be making much money after tax, but at least you money will still be worth the same if kept in this term deposit over a standard transaction account.

      https://www.rba.gov.au/

  • jwl81124 on 24/07/2019 - 16:19

    does this deal still on?

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