This was posted 14 years 22 days ago, and might be an out-dated deal.

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ING Savings Maximiser 6.25% (4 Months Introductory Rate; New accounts only)

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ING Savings Maximiser 6.25% (4 Months Introductory Rate; New accounts only)
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Ldelantro on 14/05/2010 - 14:23 ingdirect.com.au (297 clicks)
Last edited 15/05/2010 - 11:48 by 1 other user

Better than the UBANK 6.05% (with 0.20% loyalty bonus).
Good depending on whether you can be bothered transferring to and fro. Let's hope UBANK raises their IR or I may jump ship soon :)

Hi xxx,

As a new Orange Everyday customer, you know you’ll keep more of your money because we’ll never charge you any ING DIRECT everyday fees.

But we’d like to make you feel even better about saving. Open an ING DIRECT Savings Maximiser now and you’ll receive a variable welcome rate currently 6.25% p.a. That’s 1.35% p.a. over the standard variable rate, currently 4.90% p.a. for the first 4 months. Plus, you’ll have instant transfers between your ING DIRECT accounts, 24/7 when your Savings Maximiser is linked to your Orange Everyday.

Open a Savings Maximiser today and feel even better about your money. But hurry, this offer is only available until 31 May 2010.

Best of all, since you’ve already been to Australia Post to have your identity verified, you can open your account online in minutes.

Regards,

Brett Morgan
Executive Director, Savings

mod - added that it looks like it's only for the opening of new accounts of this type. It looks like it is not available for customers who already have an account of this type

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  • csg001 on 14/05/2010 - 14:37

    I signed up a week ago with the CH9 promotion code (bonus $20), and now my interest rate is 6.25% as well. Excellent, forget BankWest now! :p

  • footy on 14/05/2010 - 14:58

    hate this. What do u do in 2 mths when interest rate is below ubank?? Who can be bothered changing every 4 mths. Ubank stills wins in my mind. 4.9% standard rate is crap!

    • [Deactivated] on 14/05/2010 - 16:27

      And I hate this, ubank is still only 5.85% their new rate doesnt come in until June1. So uBank plays games too. Ubank has learn't a thing or two from our politicians (Tax cuts BUT they come into play in 2013).
      Intro or not, if people move from ubank to the others then ubank will be competitive again. So its not just the 4 mths change issue. Just like ING now has to offer better rates

  • M27 on 14/05/2010 - 15:03

    negative vote for the 4 months introductory rate.

    • michaelliberty on 14/05/2010 - 21:06

      +ve for being the highest current variable rate (4 months well worth it).

      Sorry UBank, hopefully you become competitive again in 4 months.

  • devz on 14/05/2010 - 15:06

    ongoing % rate should be specified (information to make informed decisions)

  • shu on 14/05/2010 - 15:21

    i'm sick and tired of all these "introductory rates"…just give us a decent ongoing rate!

  • mick123 on 14/05/2010 - 15:46

    ING was a pioneer in high interest savings online accounts. However, probably in the last 6-10 years, with the newer entrants, they are becoming less relevant and less competitive. They are relying still on the name (people still think of ING when thinking of high interest accounts, due to being one of the pioneers) and introductory rates.

    However, as I have a home loan with them, higher savings rates may equal higher home loans for me (but probably wouldn't as it looks like the margin is quite widespread - their current HL rate is 6.74, savings 4.90. diff 1.84%)
    of course, I am looking at this at a very very simplified view

    • muzzamo on 14/05/2010 - 17:07

      It all depends on how desperate these institutions are for for domestically sourced cash. Ubank (Nab) and ING are obviously less desperate than they have been in the past. Its just a shame the UBank rep was so prominent around here and now that they are being sneaky he is nowhere to be seen….

  • SomeGuyOnOzB on 14/05/2010 - 16:35

    I did a very quick scan of it but couldn't see the usual section saying that existing customers can get the rate for new monies.

    Is this deal only for new customers?

    • SupaStarStatus on 14/05/2010 - 16:38

      Thats what I was looking for to. From the letter posted it sounds like it could be for new customers only.

  • bitcoinorbust on 14/05/2010 - 17:40

    loyal customers shafted once again

  • retiredfeline on 14/05/2010 - 19:39

    No, not for new customers only. They emailed me, an existing customer, but not of this type of account, the same offer. Like they said above, I could have the account instantly because they've already verified my ID. I haven't had time to evaluate it yet, so no vote either way from me.

    To those who already have this type of account and are complaining that you don't get the freebie, c'mon, do you think they would give you a freebie if you've already signed up? They want more people to sign up. In that sense yes it's only new customers. If I keep refusing them, I bet I will keep getting these offers in email. :)

  • [Deactivated] on 19/05/2010 - 22:11

    Introductory rates are everywhere. I don't think the rate is actually sustainable so I won't be bashing ING…

    I remember first when Raboplus advertised that they were going to keep their rates high without those introductory rates. However, they haven't kept up either…

    I still have some money in Raboplus purely because it's based in the Netherlands and has the highest bank rating and the financial crisis could be going into a second dip…

    Greece issues.

    Ubank (NAB) is the best so far… Smartypig (ANZ) hasn't kept up.

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