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To view all the interest rates from over 20 banks and financial institutions, login and enter the amount you wish to invest.
(You will need to Register first if you haven't already.)
*Rates subject to change and are based on a $100,000 personal investment with interest payable at maturity
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3 Easy Steps: Sign Up. Setup. Invest
You need to register your details with us and we’ll set you up with an investor login to access rates.
Complete our online application form to set up your AMM Client Account in your investing entity’s name. A required Cash Management Account can be set up as part of your application process if you don’t already have one.
Once you have transferred funds to your Cash Management Account which acts as a “hub” for investing, you can browse rates and start placing term deposits through our platform.
AMM is not a bank, but an online broker. We were the first in the Australian marketplace to build a fully transactional online term deposit platform in 2007. Since then funds under management have grown to over $5 billion.About us
We have procedures and processes in place to make sure that the security of your funds are never compromised. That’s our promise to you. The funds ALWAYS stay in the investor’s name and move directly from bank to bank. Now that’s reassuring.
Minimum 128-bit SSl encryption for the transmission of data so you can be rest assured your information is secure.
Constant audits as well as hourly offsite backups ensure that your transactions are never lost, even if disaster strikes.
Your personal information is safe and secure. We use GeoTrust for transactional security.
These are the questions that we receive most frequently however if your query is not answered here, please don’t hesitate to contact us – we are happy to help.
Australian Money Market Pty Ltd (AMM) is a private company that was established in 2007 to run an online cash deposit platform. AMM provides a brokerage service for our clients and their term deposit requirements.
No fees are charged to our clients to use the services provided by AMM. AMM acts as a broker for term deposit products and other investments, and is paid a brokerage by the bank or financial institution providing the deposit product or investment. This brokerage is typically 0.10% but may differ per institution or deal type. The rates shown by AMM are net of any brokerage paid and therefore the interest rate you see will be the interest rate you will receive.
Yes. AMM do not use trust accounts. The movement of funds between financial institutions is always in your name via your cash management “hub” account. All deposits are held with the deposit taking institutions you have chosen to invest with and remain in the investing entity’s name. At no time are funds held in any trust or custodial structures. If you choose to stop using the services of AMM, or if AMM ceased to offer any services, your funds would be unaffected and remain deposited with your chosen institution(s).
In order to automate the various functions required to open Term Deposits on your behalf, you provide an authority to AMM to sign bank applications on your behalf as part of each Term Deposit setup. Nothing is executed through AMM without your instruction.
The Australian Government's Financial Claims Scheme (FCS) protects people's deposits in the unlikely event that a bank, building society or credit union fails. It only covers banking institutions that are incorporated in Australia and who are Authorised Deposit-taking Institutions (ADI's). The FCS has been known as the Australian Government Guarantee Scheme.
Through the Financial Claims Scheme (FCS), the Australian Government guarantees deposits up to $250,000 and the cap applies per ADI.
For example, if you place $250,000 with one ADI and $250,000 with another, then both of the deposits are guaranteed. If you place more than $250,000 with one ADI, then only up to $250,000 is guaranteed. In the case of joint accounts, each account holder is entitled to an individual guarantee up to $250,000.
Please note the following banks combine to form one Authorised Deposit-taking Institution (ADI)
You can read more about the scheme here: https://www.apra.gov.au/financial-claims-scheme.
Generally no - they are usually the same as rates offered directly to the public. There are some Banks that pay AMM’s brokerage on top of the rate publicly available, which means you get the same rate as if you dealt directly with the institution. Banks will also provide us with specials from time to time. The ability to easily switch between institutions on the platform, allows you to maximize the return on your investment.
For each financial institution, there are different minimum and maximum amounts, dependent on rates and terms. These are specified by provider on the rates table which is accessible once you Register with AMM.
AMM is an online platform for investing in retail term deposits. We accept Accounts in the name of individuals, joint accounts, SMSF’s, and most companies or associations including charities and other trust structures. If you have a question regarding a particular entity type, please contact us.
Firstly, you will be required to Register – just give us a few details and we will email your own login details. Once you have these details you can then complete our online AMM Account Application form to open up your AMM Account(s) in the legal entity name(s). This can be done via the ”Add New Account +” button on your Dashboard and this will take you through the various steps based on the entity type you are opening (ie individual/joint investor, company, SMSF, charity or trust).
Please note, you can have more than one AMM Account under your AMM Registration which simplifies the management of your term deposits e.g. you may have term deposits under your own/joint name and also for a family trust.
AMM will require you to provide identification documents relating to the particular investor type that you are i.e. individual, group of individuals, SMSF, Trust or Company. Original copies of the identification documents will need to be certified with a date of less than 6 months ago and posted to AMM, along with your signed Account Application Form. (Please note, the copies must be clear and all characters legible).
For a guideline to the Certified ID Requirements and Personal Details required by financial institutions, please click here.
For a list of persons authorised to certify copies of identification (ID) please click here. Unless it is specified that the Authorised Person may be overseas, an Authorised Person must be either an Australian Citizen or Permanent Resident of Australia.
To certify a document, an "authorised person" must clearly write:
"I hereby certify this document is a true copy of the original document shown to me" And then add the following information:
Contact details of the “authorised person” can be either work or residential.
Individuals certifying documents need to certify every page of the document. If they only wish to write on the first page, they must clearly state that they are certifying the entire document (i.e. all pages).
Please note, authorised certifier persons must be Australian Citizens and cannot be a relative of the account holder, sign on behalf of themselves (if they are an authorised document certifier) or a member of the Defence Force. [Click here to download further Certifying Identification details]
In order for AMM to send the funds to your chosen institution, they need to be available in an account that AMM is authorized to debit from which is a Cash Management Account (CMA) or “hub account”. Upon your instruction, we move the funds out of your CMA and directly to the chosen institution for your selected investment.
For further details, please click here to find out ‘How it works’
We can link an existing Cash Management Account held by you with one of our listed financial providers. When you complete the online AMM Account Application form, there is an option for existing CMA Accounts where you can provide us with the details.
For a list of our CMA Providers, please click here. If your existing CMA Account is not with one of our listed providers, we will require you to open a new CMA Account with a provider from our list.
Yes. The interest rate is dependent on the financial institution who you hold your Cash Management with.
Once you place a Term Deposit deal through your AMM Account, AMM instructs your Cash Management Account provider to transfer the relevant funds directly to your chosen financial institution. Please note, the movement of funds between financial institutions is always in your name.
AMM has standard trading hours from approximately 10.45am until 1.30pm, (Sydney time), Monday to Friday. The 10.45am opening time allows the banks to publish their rates to AMM, which can change daily. The 1.30pm closing time allows AMM the time to process the deal same day and remit the funds to the chosen institution.
Your AMM Account provides you with the flexibility to place Term Deposit deals 24/7 in your own time however please be aware that rates outside of our standard trading hours may not be available the next day when AMM is processing your deal during the standard trading hours.
Any Term Deposit deal that you place outside of our standard trading hours will be marked as “Pending – rate to confirm”. This means your deal will be placed in a holding pattern until approximately 10.45am the next business day when the rate you placed your deal at will be compared to the current rate issued by the bank.
At the time the Pending Deal is processed:
Yes. You will receive Bank Confirmation(s) from your chosen institution(s) along with their Product Disclosure Statement (PDS) via an email from AMM. Typically this can take up to two weeks from the deal start date due to the processing time within the chosen financial institution. AMM maintains processes to ensure that any deposits that have not received a Bank Confirmation within 2 weeks of the start date are followed up.
For term deposit deals of one year or less, interest is paid at maturity. For terms greater than one year, interest is paid annually.
Yes – an email is sent to you 7 days prior and 1 day prior to the date your term deposit will mature.
Within 7 days of the term deposit maturing you will be able to provide us with reinvestment or redemption instructions, via your online AMM Client Account. You will see a Redeem and Reinvest button within the relevant term deposit summary. Please note than any reinvestment instruction prior to maturity will be classified as ‘Pending’ until we know what the rates are on the given maturity date.
When your Pending Deal is processed on the next business day:
If you don’t action our email reminders (sent 7 days and 1 day prior to maturity) and choose to Redeem or Reinvest on the maturity date, the principal and interest will automatically be transferred into your Cash Management Account and will be available for further instructions.
To break a term deposit, notice is required in writing such as an email sent to firstname.lastname@example.org. Costs will be attributed to an early redemption and these will vary on a case by case basis. The client is informed of all charges prior to breaking the term. Please note, most financial institutions require 31 days notice to break a Term Deposit and have a 3pm (AEST) cut off time. Please refer to the relevant provider’s PDS for further details.
We provide a full history of financial transactions which can be downloaded online at any time including the corresponding bank confirmations. You can also access an interest report and audit certificate from your 'AMM Account Dashboard' which shows a record of deposits placed at a particular point in time.
We can keep you up to date with information and news.