AMP Banking Term Deposit Accounts a smart and popular option
Monday July 20, 2009
Term deposit accounts are a smart and popular option for many Australians who wish to benefit from high interest earnings for their savings. Term deposits are a popular as a safe alternative for investment for low-risk investors.
AMP Bank currently has on offer one of the more competitive term deposit accounts available on the Australian bank market with a higher rate of interest than most savings accounts on the majority of its terms and conditions.
The AMP bank term deposit accounts not only offer great rates of interest for AMP bank customers but they also offer a choice of interest repayment options and a choice on how long the account can be left with rewards awarded as such. Of more benefit, the AMP bank term deposit accounts are waived any bank fees, which means that the accounts save even faster.
When a term deposit account is opened, the customer will opt to have the account left or ';untouched' for a certain amount of time, with the longer agreed the higher interest paid. With the AMP bank term deposit account it can be broken down anywhere from 3 months to 5 years with the interest awarded as follows:
- 4.30% pa for 3 months
- 4.50% pa for 6 months
- 6.00% pa for 5 years
- The minimum opening amount for a new term deposit accounts with a term between 30 and 89 days is $25,000
- Terms selected longer than one year will receive regular income with interest paid monthly, quarterly, half yearly and yearly
What's more, AMP bank term deposit customers have more choice with a selection between how their interest can be paid with options including transferred to a nominated account, by cheque or even or added to principal interest and reinvested.
AMP Bank currently has more than 3.4 million customers through its wide selection of bank services and financial products including superannuation, banking, retirement, savings insurance and income, investments and financial planning.
The AMP banks term deposit bank accounts are ideal with a competitive rate of return and a regular income stream on their savings, to learn more compare transaction accounts here
