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Savings Maximiser 3.60% p.a. Interest on Balance up to $100,000 (Monthly Deposit, Balance & Spend Requirements) @ ING

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Savings Maximiser 3.60% p.a. Interest on Balance up to $100,000 (Monthly Deposit, Balance & Spend Requirements) @ ING
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BargainsGrabber on 12/09/2022 - 07:03 ing.com.au (2961 clicks)
Last edited 06/10/2022 - 00:24 by 1 other user

💰 For our savings customers:

For our new and existing Savings Maximiser customers:
🔸 We will be increasing the additional variable rate by 0.50% p.a. to 3.05% p.a.
🔸 Our standard variable rate is 0.55% p.a.
🔸 So our highest available variable rate will now be 3.60% p.a.
You can earn our highest available rate (which is made up of the standard variable rate and additional variable) on one nominated Savings Maximiser for balances up to $100,000 if you meet the monthly eligibility criteria.

All variable rate changes will be effective from 15 September 2022.

Previous deal post

Referral Links

Referral: random (519)

Until 30/6/2024, referrer and referee will each receive $75/$100/$125 for opening new Orange Everyday & Saving Maximiser Accounts.

Referrer: Do not participate in the referral system if you do not have a current $75/$100/$125 referral code.

Referee: To qualify, you are required to deposit a minimum $1,000 and make at least 5 (settled) card transactions within any calendar month.

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closed Comments

  • IanC on 12/09/2022 - 17:16
    -1

    If I had the cash I would prefer 4 % plus ongoing (NOT VARIABLE) for up to 5 years dropping to 3% plus at any point with 31 days notice (no notice on

    hardship)

    To each his or her own.

    • Etheral Point on 12/09/2022 - 17:29

      where can I get terms like this then?

    • tdw on 12/09/2022 - 19:24

      closest you're gonna get is a term deposit.

  • hasher22 on 13/09/2022 - 01:57

    Ubank, no stupid hurdles, 3.4% starting Oct and balances up to 250k not 100k and you don't need to purchase 5 X on the card. Only $200 deposit not 1k

    I opened up a ubank account, gonna switch from ing to Ubank next month once I get this month's bonus interest from ing

    • nokia3660 on 13/09/2022 - 12:24

      It's 3.35% mate.

    • javawoo on 18/09/2022 - 08:37

      if you are able to manage this. ING looks not bad.

      I agree U bank is easier but I mean if you normally buy 10+ times with the card and put deposit money like $1.5~$2.0k every month

      nothing you really need to worry about don't you?

      • capslock janitor on 24/10/2022 - 14:37

        why 10+times?

        • javawoo on 24/10/2022 - 22:50

          if you work, how can you live without buying 10 times for food, petrol, etc?

  • FujiFruit on 13/09/2022 - 07:07

    When is virgin/amp/Citibank putting up their interest ?

    • IanC on 13/09/2022 - 10:10
      +5

      I'll phone the CEO's and find out for you.

      • IanC on 14/09/2022 - 10:35
        +1

        Sorry took so long but talking to CEO's is difficult.

        All were very nice and appreciated my interest but explained that they would have to call a Bored Meeting to see if they were able to

        advise on this sort of request which they seemed to think, for some reason, may be sensitive info.

        They all assured me I would be the first to know which is great news and I look forward to hearing from them and will post here

        immediately as long as you promise not to share.

  • nilchicago on 13/09/2022 - 19:13

    My first post - please be nice !

    This looks like a better deal ?

    https://www.judo.bank/personal-term-deposit

    • izkai67 on 13/09/2022 - 19:36
      +2

      No, 3.6% for 1 year, cant access your money,! if you want to break term earlier , it'll cost you arm and leg. Besides, I'm having bad experience with them.

    • tdw on 13/09/2022 - 20:00

      never heard of them. also how is a term deposit better compared with savings account when you can't access your funds, and you'll lose out on any further interest rate increases if you lock in for a year or more.

  • Geekomatic on 14/09/2022 - 01:37

    Disappointed in Mebank. I shifted to them after I got sick of ANZ. At the time, they had the best rate by far with the least hoops (tap & spend 4 times a month). I don't earn a lot, so not having to deposit tonnes was helpful.

    I checked the other day on rates again (I should have sooner) and now Mebank, though steadily increasing their rate, is behind most of them. I figured I'd give them a chance and messaged them about matching (or even bring mine up a bit) and they said nope. I can deposit $200 per month, so guess I'll be having to move to Ubank. I might wait until Oct. 1 to see if Mebank increases things, just to spare all the hassle. Sucks being low-income.

  • sathishk on 14/09/2022 - 19:32

    I have got mortgage loan and If I had spare money say $80000, would it be better to put my money in off-set account for that mortgage loan or is it a good idea to move this to ING savings Maximiser account? I am bit confused which one is better utilised.

    • aneil915 on 14/09/2022 - 20:23
      +1

      Normally an off-set account is better but it all depends on what your loan interest rate is. Also remember you dont pay any tax if the money sits in an off-set account where as you pay tax on any interest earnings in a savings account.

      Hope that helps.

      • sathishk on 14/09/2022 - 21:34

        Thank you! That helps.

  • leep35 on 16/09/2022 - 12:41

    Still confused how to manage ING hoopla
    So if I have a balance $100,001 in the maximiser savings account and withdraw $ 1

    Do I lose the bonus rate of 3.05% and only receive 0.55% for the balance of $ 100,000 for the current month.

    • skid on 16/09/2022 - 12:50

      Yes.

      If you hadn't withdrawn the $1, you'd get 3.05% of 100,000 + 0.55% of $1.

    • pao2x on 17/09/2022 - 00:30

      It has to increase by even 1 cent at the end of the month. You can withraw you just have to put it back + grow

  • izkai67 on 17/09/2022 - 13:46
    -2

    difference with UB, 3.6%-3.35% = 0.25%. Max difference if you have $100k (ING max balance to get 3.6%) is $20.8 extra per month if you keep money in ING. Is it worth to keep money in ING? in my opinion, I dont think so. I can earn more than $20 per month using my HSBC card with 2% cash back while keeping money in UB. If you only have less than $50k to keep, the difference is even less. We can jump over the hoop for few months, after that you get fed up. imagine doing 5x 1c transaction every month, some can do it, some just can't. unlike VM allow bpay and direct credit to make up 5x transactions, ING only allow card purchase.

    • javawoo on 18/09/2022 - 08:23

      in that view, 3.6% and 2.6% ain't different much too.

      Buying an iphone $2000 with 10% discount is already $20.

    • chrisharry53 on 18/09/2022 - 08:55

      $20 a month, $240 a year. Use HSBC for most purchases but do 5 split payments of 1c each at Coles or Woolies self serve and last bigger payment with HSBC. Easy. ING also great if you need cash at an ATM as fee for every ATM rebated.

  • javawoo on 18/09/2022 - 08:23

    promotional code?

    what is this? Am I missing something? or just make account without promotional code?

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