AMP Bank business lending: the GO overdraft, practice finance for advisers, and the gaps

Most people know AMP for superannuation and financial advice. Its bank is smaller and quieter, and its business lending is deliberately focused: one app-based overdraft for very small businesses, and one specialist loan for the financial advice profession that AMP knows better than almost anyone.

That focus is a strength if you sit inside it. If you don’t, it’s better to know early. This profile works from AMP’s own website as at October 2026. Check details with AMP before applying, because the GO platform is still adding features.

What business lending does AMP Bank actually offer?

Product	Who it’s for	Published amount	Security
AMP Bank GO business overdraft (sole trader)	Sole traders, freelancers, tradies	$2k to $20k	Unsecured
AMP Bank GO business overdraft (company)	Pty Ltd companies with a single director	$2k to $50k	Unsecured, with a personal guarantee from the director
Business Finance Loan	Financial advisers and brokers	Not published on the product page	Recurring revenue, current or future

There’s no published business term loan, equipment finance or commercial property product for the general small business market. AMP Bank does write home loans, which some sole traders use, but that’s personal lending, not business finance.

How does the AMP Bank GO overdraft work?

AMP Bank GO is AMP’s mobile-only bank. The overdraft isn’t a standalone product: it attaches to the GO Everyday Business Account, so you open that account first, then apply from your profile inside the app. AMP says applying takes under 10 minutes and, once you accept an approved offer, the money is available straight away.

Some features are genuinely owner-friendly:

• Interest only on what you use. The limit is a safety net, not a loan you pay on in full.
• No set minimum monthly repayment. Deposits into the account reduce the overdraft first, so ordinary takings pay it down automatically.
• A self-imposed cap. You can set your own lower ceiling in the app if you don’t want access to the full limit.
• Xero integration, and no paperwork for sole traders applying through GO.

There are also details worth knowing before you apply:

• An approved offer is only valid for 14 days. Let it lapse and you’ll need to reapply, with a fresh credit check.
• You can’t ask for a limit increase. You can only reduce it. Think carefully about the right size up front.
• Fees are an establishment fee and a monthly service fee, each calculated as a percentage of your approved limit, so a bigger limit costs more even if you never touch it. AMP has advertised a waiver of the monthly service fee for the first year as a limited-time offer; check whether it’s still running.
• If you go over the limit, the excess must be repaid immediately.

Wondering whether a $20k buffer would really cover your quiet months? Model it with our cash flow gap calculator, or tell us what you’re trying to cover and we’ll suggest what fits.

Who qualifies for the overdraft?

AMP publishes a short, clear checklist. You need to be:

• a sole trader or a company with a single director;
• registered for GST, and operating under your current ABN for more than six months;
• over 18, and an Australian citizen or permanent resident;
• free of any declined AMP application in the past 30 days;
• borrowing for business purposes.

Single directors provide a personal guarantee, and AMP runs a credit check on both the director and the company. AMP’s FAQs don’t mention a minimum turnover.

Notice who’s missing from that list. Partnerships, trusts and companies with two or more directors aren’t covered. Nor is any business under six months old on its current ABN, which matters if you’ve recently restructured from a sole trader to a company and been issued a new number.

What is the Business Finance Loan for advisers?

This is AMP’s specialist product, and it reflects decades of working alongside financial planning practices. AMP lets advisers and brokers use the recurring revenue of the business, current or future, as security, so the owner’s home doesn’t have to be mortgaged.

AMP lists these uses:

• acquiring or merging with another practice;
• employee buy-ins for succession or equity purchases;
• business improvements (motor vehicles excluded);
• buying business premises;
• refinancing loans from other lenders;
• short-term GST funding, for up to six months, when buying a business;
• a working capital line of credit, which may be considered.

AMP says it charges no monthly account fees or commitment fees on this loan and supports borrowers with dedicated relationship managers. Amounts, terms and eligibility aren’t published on the product page, so speak to AMP directly.

Consider an illustrative adviser in Toowoomba, buying a retiring colleague’s client book with steady ongoing fee revenue. A general bank would usually want property security for a goodwill purchase. AMP’s approach of lending against that recurring revenue may mean the family home never enters the conversation. For buyers outside the advice industry, our business acquisition loans guide covers how other lenders handle goodwill.

Who suits AMP Bank, and who might not?

AMP is a sensible fit for:

• sole traders and one-director companies wanting a small, unsecured buffer they can manage on their phone;
• seasonal or lumpy earners who like repaying whenever money comes in, without a fixed instalment;
• financial advisers and mortgage brokers buying, merging or succession planning.

It’s usually the wrong fit for businesses needing more than $50k, partnerships and trusts, companies with several directors, businesses not registered for GST, anyone wanting equipment or vehicle finance, and owners looking for a lump-sum term loan.

Questions to ask AMP before you apply

1. What are the current establishment and monthly service fees in dollars for the limit I want?
2. Is the first-year service fee waiver still available?
3. If my business grows, can I close this overdraft and apply again for a bigger limit?
4. For the Business Finance Loan, what minimum loan size and term apply to a practice like mine?
5. Will AMP need security beyond the recurring revenue, such as guarantees?

If AMP said no, you’re in the right place

AMP Bank is a reputable, well-capitalised bank, and when its products match your business they’re well worth having. The trouble is simply how narrow they are. Here’s where to go depending on why AMP didn’t fit:

• Need more than $50k, or a fixed lump sum? Start with unsecured business loans or a business line of credit.
• Trading as a partnership or trust? See business loans for partnerships and business loans for trusts.
• ABN under six months old? Read business loans with an ABN under 6 months.
• Not registered for GST? We cover that in business loans when you’re not registered for GST.
• Other banks to consider: ING Australia for commercial property, Great Southern Bank for small unsecured and secured loans, or Judo Bank for relationship-led SME lending.

Outgrown a $50k overdraft? Here’s the next step

An app overdraft is a great start. Sooner or later, though, a growing business needs a facility that grows with it, and AMP doesn’t currently offer one.

If that’s where you are, give us a minute of your time through our short form. It won’t trigger a credit check or show up as an enquiry on your file. We look after your details ourselves and never pass them around a queue of competing lenders. A lending specialist reviews your circumstances properly and calls to discuss them. Please be accurate about turnover, structure and how much you need, since those three facts decide which lender suits you.

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