North rebates term deposit admin fees
Clients who take out a term deposit through AMP's North platform before the end of the year will have their administration fees rebated.
The fee rebate will apply to clients who take out a new North term deposit or roll over a maturing term deposit between 1 August and 31 December 2012, according to AMP.
The rebate will apply for the duration of the term deposit or until 31 December 2013.
AMP director of platforms Steve Burgess said some investors were looking to cash as a safe haven amid recent market volatility.
"In the current environment an allocation to cash is an attractive option for some clients to help them achieve their long-term savings goals," he said.
"North has seen strong growth in term deposit funds under administration [FUA] over the past year, jumping from 1.3 per cent to 6.9 per cent of total North FUA between June 2011 and June 2012," Burgess said.
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