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 11 November 2022 for new customers and 14 November 2022 for existing customers.

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

• Standard rate for AMP SuperEdge Saver customers will increase by 1.10 per cent pa effective 14 November 2022 and eligible new SuperEdge Saver customers can earn up to 3.00 per cent pa¹.
• Six-month direct Retail Term Deposits will increase by 0.10 per cent effective 7 November 2022, giving direct customers a rate of 3.45 per cent. AMP Bank continues to offer highly competitive Retail Term Deposit rates across all terms.
• AMP Notice products² will increase by 0.25 per cent pa effective 7 November 2022.
• Cash account rates offered by AMP Bank to investment clients through AMP wealth platforms will increase by 0.25 per cent pa effective 7 November 2022.

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.

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.

¹Eligibility criteria applies. Full terms and conditions are available at amp.com.au/banking/smsf-accounts/amp-superedge-saver-account.

²AMP 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.}