ING Savings Maximiser Rate Dropping from 2.3% to 2.2%

They've done it again, rates have dropped from 2.3% to 2.2%

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Comments

  •  

    Any better rate than ING?

  • +9 votes

    ING Direct use to be great for customer. Now ING everything is diminishing

  •  

    Is rams saver good? The interest now is 2.35%

    • -1 vote

      Consider 2 weeks ago it was 2.55% and dropped to 2.35 for no reason.
      Consider if u withdraw any money you don't get the 2.35%
      Consider at UBank you get 2.41% up to $200K and can still make withdrawals,

  • +2 votes

    Hmmm … ING is definitely sliding down the pole in terms of preferred banks these days. Would be lucky to make top 3 in terms of deposit rates these days I would think?

  •  

    Wow, no cash rate cuts since the last one and ING dropped the rate again for no reason. Time to jump ship for sure

  • +3 votes

    UBank, USaver with Ultra is 2.41%

    • -1 vote

      Their website and app is a little bit retarded though. But $200k limit means more than interest rate alone.

    •  

      Its a fantastic account combination.
      Probably best in Australia
      Lots of excellent benefits including fee free foreign currency payments and overseas ATM withdrawals

  • +1 vote

    86400 (new online bank) has 2.5% (0.4 + 2.1 bonus) if you deposit 1k or more per month. No monthly account fees either

  • +1 vote

    Up.com.au is also doing 2.5% (0.5% + 2.0% bonus with 5 card purchases / month) for up to $50,000 savings.

  • +3 votes

    BOQ offers 2.5% for up to $250,000 savings. Only condition is to deposit $1000 or over per month from an external account to the BOQ everyday account.

  • +1 vote

    Is this ING rate decrease in response to the RBA's July 2 rate decrease?

    Or is this in advance to a future RBA decrease?

    No point to moving to other banks if they're gonna make similar moves.

    • +2 votes

      Yeah I’m finding some of the reactions here a little impulsive. ING as a bank still offers me a whole lot of perks such as zero ATM and international transaction fees. Their savings rate is still competitive enough to not make me consider moving.

  •  

    Same with RAMS Saver. Dropped from 2.55 to 2.35. Also just capped deposits at $500K.
    I guess they locked in their quota of funds and decided to drop the rate.
    I was going to deposit a fair bit of cash with them.
    Now maybe zilch. They can't be trusted.
    UBank saver with ultra is a much better deal

  •  

    Not defending any bank but:

    ING : $100,000 -> 2.2% -> $2,200 per annum or $42,30 per week

    BOQ : $100,000 -> 2.5% -> $2,500 per annum or $48,07 per week

    Yes, there is a difference of $5,77 per week.
    Yes, better in my pocket than in theirs.

    But is it worth to even bother changing banks????

    Changing investment strategy yes.
    But banks?

    • +1 vote

      It's only worth it if customers change banks en masse which sends the message that we don't want their crappy rates while denying them future business in other areas (loans etc).

      Think of it as a reverse "ozbargaining" - instead of a bunch of Ozbargainers jumping on a good deal, we flee from it.

    •  

      Its too easy these days

      You can do it sitting down at home in front of your computer

  • +2 votes

    1.95% now 😔

  •  

    NEWS FLASH
    UBank just dropped the rate from 2.41% to 2.10% (-0.31%)

    RAMs were 2.50% not long ago but currently on 2.25% (dropped 0.10% before the last RBA rate cut and 0.20% drop a few weeks earlier) but have stated their loan rates will change on 15/10 so lets see what happens to the RAMs saver rate (currently -0.25%)

    BOQ rate dropped from 2.50% to 2.15% (-0.35%)

    Time to move money around again but where this time ???
    Have to wait and see what RAMs does on 15/10 but they have dropped Saver rates out of sync with RBA drops