Savings Maximiser 5% p.a. Interest on up to $100k Balance, Savings Accelerator 5.40% p.a. First 4-Months on $150k-$500k @ ING

1481
Savings Maximiser 5% p.a. Interest on up to $100k Balance, Savings Accelerator 5.40% p.a. First 4-Months on $150k-$500k @ ING
Go to Deal
Darkpulsar on 04/02/2026 - 17:40 ing.com.au (1144 clicks)
Last edited 05/02/2026 - 09:12 by 2 other users

Website doesn't look like it's updated but been posted on socials, +0.25% SM, +0.40% SA effective 10/02
https://x.com/ING_Aust/status/2018913046962622599

For Savings Maximiser customers, we’re increasing your additional variable interest rate by 0.25% per annum. When you meet the monthly eligibility requirements, this will take the variable rate to a roaring, 5.00% p.a. on balances up to $100k!

https://x.com/ING_Aust/status/2018913048724173076

🟠 Got a Savings Accelerator? You will be getting a 0.40% per annum rate increase.
For new ING savings customers, this will take the Kick Starter variable rate to 5.40% p.a. for the first 4 months on balances over $150,000 (up to $500k), and ongoing variable rate to 4.35% p.a.

Fine print: The variable kick starter rate is not available on a Savings Accelerator if any account holder has ever held a personal savings account with ING

SM requirements:

For customers who also have an Orange Everyday bank account and do these things each month:
1. Deposit $1,000+ from an external source to any personal ING account in their name (excluding Living Super and Orange One)
2. Make 5+ card purchases (settled, not pending) and
3. Grow their nominated Savings Maximiser balance (excluding interest).
When the criteria is met in a calendar month, the benefits the additional variable rate will apply in the next calendar month. Available on one account for balances up to $100,000.
The standard variable rate is 0.01% p.a.

ING Referrals

Referral: random (785)

Referee & Referrer: $125 each for opening new Orange Everyday & Saving Maximiser Accounts.

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

Referee: To qualify, you are required to deposit a minimum $1,000 from an external source into the new Orange Everyday account, deposit any amount into the a Savings Maximiser Account, and make at least 5 (settled) card transactions within any calendar month with the new Orange Everyday card.

Financial Bank Account Savings Account

Related Stores

ING
ING

Comments

Search through all the comments in this post.
    • Iluvfreebies on 04/02/2026 - 19:36
      +3

      unnecessary neg votes again.

      Ing currently has the highest saving rate,

      • Vool on 04/02/2026 - 19:47
        -1

        People really REALLY don't like the couple small requirements they make you jump through… (But then struggle to name another bank with a similar rate without requirements).

        • Iluvfreebies on 04/02/2026 - 19:58
          -1

          Requirements are easy to meet.
          5x transcation can be done at coles or $1 amazon GC from SB
          $1000 deposit in and out from another bank
          Also balance increase and liqudity is not an issue if you follow the 3 account trick.

          • Vool on 04/02/2026 - 20:33
            -1

            @Iluvfreebies: Yep I've never missed out on bonus interest since I switched to them, but I've never had to take anything out of savings.

            I have an ING debit account that I use for paying my rent and bills, that easily covers the 1000 even if I don't really save for a month, then another debit card I use to buy lunch a few times.

            • wintersnow911 on 04/02/2026 - 21:44
              +4

              @Vool: "The consumer watchdog found that 71% of bonus savings accounts didn’t receive their advertised interest rate each month." this is from an email from Macqarie, not sure if it is true.

              • Vool on 04/02/2026 - 22:49
                +6

                @wintersnow911: @wintersnow911 That's probably true because a lot of people have terrible financial literacy, they would be better off on a lower interest account without the loopholes but they do that for the same reason.

                It's also probable those people are why they are able to offer a better rate for the ones who actually use it.

          • Trishool on 04/02/2026 - 20:38
            +1

            @Iluvfreebies:

            Also balance increase and liqudity is not an issue if you follow the 3 account trick

            Can you please elaborate on what this is.

            • ATangk on 04/02/2026 - 21:21
              +4

              @Trishool: In the following month, go to ING internet banking on a browser, change the 'next month's interest earning account' to another, empty savings maximiser. Transfer in 1c. Do the 5x transaction and deposit in/out trick.

              Now the next month, you've 'increased your balance' without necessarily having increased your balance.

              You only need to do this when you can't increase your monthly balance.

          • Mdjz76 on 05/02/2026 - 08:25

            @Iluvfreebies: @Iluvfreebies 3 account trick?

            • Iluvfreebies on 05/02/2026 - 10:11
              +1

              @Mdjz76: The best explanation I could find is this comment by tekisei . It looks complicated but it is not.
              https://www.ozbargain.com.au/comment/13872831/redir

              To be exact you need 3 Savings Maximisers:

              Month 0:
              Savings A - $XXX (active Bonus)
              Savings B - $0
              Savings C - $0

              Month 1, Day 1, Set next month active bonus to Savings B:
              (AUTO $1 into Savings B)
              Savings A - $XXX (active Bonus)
              Savings B - $1 (has grown by $1)
              Savings C - $0

              Month 2, Day 1, Set next month active bonus to Savings C:
              (AUTO $1 into Savings C, AUTO $XXX into Savings B)
              Savings A - $0
              Savings B - $XXX (active Bonus)
              Savings C - $1 (has grown by $1)

              Month 3, Day 1, Set next month active bonus to Savings A:
              (AUTO $1 into Savings A, AUTO $XXX into Savings C)
              Savings A - $1 (has grown by $1)
              Savings B - $0
              Savings C - $XXX (active Bonus)

              Month 4, Day 1, repeat… etc

              This way the active bonus account growth balance is always set to $0. If your XXX is 100k, then the automatic transfer should be $XXX-1. The $1 and $XXX scheduled transfers are quarterly, but each step is separated by a month. The only thing that can't be automated is the 5 transaction and the active bonus nomination swap.

              • Typical16-bitEnjoyer on 05/02/2026 - 13:44
                +3

                @Iluvfreebies: I know this is OzB and $1 is $1….but seems lot of monitoring and risk compared to say Macquarie. Miss 1 condition and you lose a lot of interest with ING.

                • LFO on 07/02/2026 - 12:26

                  @Typical16-bitEnjoyer: Moral of the story: Never miss any condition.

                  Hint: Calendar or similar on a smart phone … or a printed calendar in the kitchen/bedroom/garage/office

              • Yola on 08/02/2026 - 08:43

                @Iluvfreebies: I have done this with only 2 accounts for over 12 months.

          • autolux on 05/02/2026 - 09:30

            @Iluvfreebies: whats the 3 account trick??

            i dont have probs with the conditions, but i do hate how the interest earnt each month, increases the balance you need for the next. guessing people withdraw on the last day to keep it lower, but i tend to miss things like that.

        • Nedkellyinthebush on 05/02/2026 - 09:40
          +2

          I never missed a hoop cycle with ING. It’s not rocket science, just put a reminder on your calendar

        • LFO on 05/02/2026 - 12:07

          invest in Gold and Silver right now.

          Buying now when getting more expensive per day?

          Selling when???

          Wholeheartedly support gold bullion in a portfolio but not buying right now. Not an ounce.

      • sim36 on 05/02/2026 - 15:17
        +4

        Too many hoops to jump through, one slip up and the save is reduced to 0.01% interest. That interest rate itself tells the negative story.

      • Wazzzzup on 05/02/2026 - 23:13

        The issue with ING is max $100k. Plus the loopholes don't help.

  • ThirtySixNights on 04/02/2026 - 17:57
    +5

    Idk why I'd change away from this, this is still the best rate I can find even without introductory temporary bonuses.

    • dongltron on 04/02/2026 - 18:22
      -3

      Because they didn’t have the best rate for a good while. This is their return to actually being good.

      • Pacify on 04/02/2026 - 18:48
        -1

        When did ING ever not have the highest rate?

        Unless you just talking about introductory bonuses that last a few months, if so not too many people are going to move money around for an extra few points every few months

        • dongltron on 04/02/2026 - 18:50

          No, not introductory bonuses. Off the top of my head: Move, Rabobank, and Bankwest all had better rates at one point or another.

          • Coops1 on 04/02/2026 - 19:14
            +3

            @dongltron: Dont think so! Maybe for a few days at a time between rises and falls. ING has been on top for a while. The main complaints are the hoops!

    • atwilliams on 04/02/2026 - 18:29
      +4

      Rabobank PremierSaver still has a better on-going rate (4.65%) and they haven’t responded yet to yesterday’s interest rate hike. Only requirement is +$200pm (exc. interest) on your balance to get the rate.

      (Edit: Comparing to the Savings Accelerator account)

      • BarginBaller on 04/02/2026 - 20:22
        +1

        ING is currently 4.75%, still slightly higher for note

        • atwilliams on 04/02/2026 - 20:30
          -3

          Which ING account are you referring to? The ING's savings accelerator looks like it's going from 3.95% to 4.35% on-going (for balances >$150K).

          • ATangk on 04/02/2026 - 21:21
            +1

            @atwilliams: Savings maximiser but its limited to 100k. Nobody compares to savings accelerator, as its a limited introductory rate, it isn't a 'normal' interest rate.

    • spaceflight on 04/02/2026 - 18:52
      +6

      Idk why I'd change away from this

      Because the conditions are bad

      this is still the best rate I can find even without introductory temporary bonuses.

      What about the conditions that negatively impact the interest you can earn like needing to use your card 5 times each month AND also increase your balance.

      Forget either of those and you are worse off compared to a similar rate elsewhere.

      This is essentially a rolling monthly term deposit

      • archiexyz on 04/02/2026 - 19:16
        +1

        its been mentioned elsewhere that you can have multiple SM accounts and switch between them to technically avoid the monthly growth requirement, though that would be high risk if you miss a day or two, wouldn't be worth it for the 0.10 - 0.15% over ME Bank / BOQ / P&N / Up Bank which are all more flexible (assuming they all raise by .25% as well).

        • OzyBe on 04/02/2026 - 19:44

          I didn't know you could have 2 SM accounts, and switch between the 2.

          I thought in the terms & conditions it states only 1 SM?

          • archiexyz on 04/02/2026 - 19:47
            +1

            @OzyBe: "Each customer can nominate a maximum of one Savings Maximiser account (either single or joint) to receive the additional variable rate (where eligible). You can check and change your nominated Savings Maximiser account via online banking or the ING mobile app. If no nomination is made, the additional variable rate (where eligible) will be applied to an account nominated by ING at its sole discretion."
            So essentially you only get interest on one at a time

      • Coops1 on 04/02/2026 - 19:17
        +4

        Lol, mine were done in 5 minutes on the first of the month! Its not hard. I would rather an extra $40 a month for 5 minutes work than not

        • LFO on 05/02/2026 - 12:12

          5 minutes ?

          I'll say could be done in 2 (two) sessions of about a minute each …

          Agree, not hard at all.

        • Yola on 08/02/2026 - 08:47

          And if you had $100k in there, it would be an extra $400 plus.

          • Coops1 on 09/02/2026 - 19:37

            @Yola: The ~$40 (approx) a month is the difference between a hoops account like ING and one of the lower rate no hoops account with 100k deposited.

      • tenpercent on 04/02/2026 - 20:13
        +7

        The hoops aren't that difficult.

        Forget either of those…

        There's not much to remember when most of it (all of it?) can be automated.

        Need to grow the balance in addition to interest earned
        => set up an automatic payment to your SM of 1 cent with monthly frequency.

        Need to use your card 5 times
        => Option (a) use the card for groceries, etc.
        => Option (b) put through 5 x individual transactions for $1 Amazon gift card, or other similar low value, quick and easy transactions.

        Need to deposit $1000 into any of your ING account
        => Option (a) set up an automatic payment of $1000 the same day you receive your salary and optionally set up an automatic transfer to send it back again the next day.
        => Option (b) get your salary paid straight into your ING account.
        => Option (c) Set up a series of automatic transfers to send a smaller amount (that you can manage) back and forth e.g. send the same $500 to your ING account, back to where it came from, send it back to ING again, and so on 4 times so the total deposits into your ING account adds up to $1000.

        …and you are worse off compared to a similar rate elsewhere.

        The app shows you if you have met the three criteria or not. Set yourself a reminder to check a few days before the end of the month. Also, the criteria you satisfy during the current month qualifies you for the bonus interest for the next month. So IF for some reason you did miss one or more of the criteria, you could just transfer everything out on the 1st of the month to another HISA for the next 2 months.

        • bigticket on 04/02/2026 - 20:47

          With option (a) use the card for groceries, I would do 5x transactions at Woolworths self checkout during a single shop. Pay 25c in 5 separate card payments @.05c and pay the rest in cash. This worked a few years back but I can not vouch for it now.

          • tenpercent on 04/02/2026 - 20:50

            @bigticket: I'm going to try that next time. Never thought to do a split payment using the same card multiple times. May I ask, why do you pay the rest in cash?

            • donotuse on 04/02/2026 - 20:51
              +1

              @tenpercent: use a self-service checkout

            • bigticket on 04/02/2026 - 20:57
              +1

              @tenpercent: Nothing to do with ING.

              I pay almost everything in cash for privacy and my hatred for digital currency. With the new hate speech laws your voice is silenced and with digital ID and digital currency the puppet masters will be in full control.

            • Yola on 08/02/2026 - 08:51
              +1

              @tenpercent: @tenpercent - I do this and pay the rest in GC"s.

          • Yola on 08/02/2026 - 08:49

            @bigticket: @bigticket - I have been doing this at Coles for over 12 months, and it works.

        • spaceflight on 06/02/2026 - 22:56
          -1

          Need to grow the balance in addition to interest earned
          => set up an automatic payment to your SM of 1 cent with monthly frequency.

          So you can't have all you money earning interest because you need other money in another account to spend.

          Need access to your money? No interest earned with ING

          Say you've got $50k in savings, at 4.5% that's $2,297 interest over 12 months

          For ING you might only put in $45k as you need money to transact with so at 5% you're earning $2,302 in interest
          Miss any condition in one month and you're down to around $2,100 in interest over 12 months.

          You're better of having 100% of your money available with no strings attached.

          The $5 difference in the example above means no card transactions each month, no requirement to grow or even have a regular deposit
          You can have you salary deposited into your savings account and then pay any expenses from that.
          You don't need to worry about your savings being smaller than the previous month after paying for a holiday or large expense etc.

          • tenpercent on 07/02/2026 - 09:06
            +3

            @spaceflight:

            So you can't have all you money earning interest because you need other money in another account to spend.

            It's a HISA not a HITA.

            Miss any condition in one month and you're down to around $2,100 in interest over 12 months.

            No, you miss out on the bonus interest in the subsequent month. The app tells you if you are on track to meet the criteria and if you met the criteria in the previous month. If for some reason your automation of meeting the conditions fails in one month, shift your funds to Macquarie or another HISA without hoops for two months to minimise the impact. But I've never ever had to do that. The conditions are just too easy to meet. And there's fewer conditions now than there used to be.

            The $5 difference in the example above means no card transactions each month, no requirement to grow or even have a regular deposit
            …
            You can have you salary deposited into your savings account and then pay any expenses from that.

            I think you've misunderstood the conditions.

            You CAN deposit your salary into your ING Savings Maximiser. And you will earn interest on the higher balance for the days you keep that money in the account. You simply want the final balance at the end of the month to be at least 1 cent higher than the balance at the very start of the month. What happens in between makes no difference to that condition.

            • spaceflight on 07/02/2026 - 10:56
              -1

              @tenpercent:

              It's a HISA not a HITA.

              So a savings account where you can't have all you money earning interest?
              Doesn't sound like a good savings account

              No

              Yes

              you miss out on the bonus interest in the subsequent month

              That doesnt change what I said.
              Or if you would like it in another way

              Miss any condition in one month and you lost about $200 interest for the next month so you're down to around $2,100 in interest over 12 months

              It's still the same.

              I think you've misunderstood the conditions.

              Not at all

              You CAN deposit your salary into your ING Savings Maximiser.

              Duh

              And you will earn interest on the higher balance for the days you keep that money in the account.

              That's how interest works

              You simply want the final balance at the end of the month to be at least 1 cent higher than the balance at the very start of the month. What happens in between makes no difference to that condition.

              Which is why I said with a better account even earning a little less interest

              You can have you salary deposited into your savings account and then pay any expenses from that.
              You don't need to worry about your savings being smaller than the previous month after paying for a holiday or large expense etc.

              If you want to keep some of your money in a month to month term deposit (which is what this is) then you can.
              You end up with less financial flexibility and a high probability of earning less interest than a more flexible account which offers a slightly lower rate for 100% of your money.

              • tenpercent on 07/02/2026 - 11:03
                +1

                @spaceflight: It doesn't have to be one or the other. There's no reason you can't have money in both your preferred lower interest HISA and and in the higher interest HISA i.e. ING SM.

                But you do you. If you sleep well at night leaving easy money on the table, go for it. I'm here earning higher interest. If I ever have a large expense that requires me to dip into the ING SM then I will shift the rest of the funds for the next 2 months to a no hoops HISA. No biggie. And I'll still be ahead from all the earlier months of higher interest.

    • Just Another Day on 04/02/2026 - 19:11
      +2

      I used this account. I can see why people have moved away from it, the hoops are super annoying. Especially when you are at the 100k cap. Only reason I have not moved is that I am lazy lol

    • Wazzzzup on 05/02/2026 - 23:35

      If you have more than $100k it's not worth it

      • tenpercent on 07/02/2026 - 11:05

        You could always keep a little under $100k in the ING SM and the rest in another HISA.

        • Wazzzzup on 12/02/2026 - 18:52

          Yea but too many accounts with too many hoops, not worth the time. I have it in Macquarie and ANZ Plus… Both are up to 1million i believe. Macquarie is my daily transaction account, still have interest. ANZ Plus only need to add $100. There's alot more better functions on that, much easier to transfer large amount of money as well, can have different saving goals. it's a little worse off but in the grand scheme of things, the few dollars don't matter.

          • tenpercent on 12/02/2026 - 19:15

            @Wazzzzup: It would literally be only one more account. +1 is too many? Okie dokie.

  • Iggemo on 04/02/2026 - 18:01
    +5

    So i need to have 150k to get the top rate with this savings accelerator? That is a shame.

      • Paccers on 04/02/2026 - 21:58
        +5

        Can I have free financial advice from Jam2G as to what they would do right this second with $150k that is more efficient? Let's assume I haven't bought a house as part of this exercise but I would like to.

        • Jam2G on 04/02/2026 - 22:18
          -6

          ETFs (Aus or international), Bonds, Gold / Silver, Crypto if crazy to name a few

          • Paccers on 04/02/2026 - 22:29
            +6

            @Jam2G: You'd bang 150k in to gold/silver/crypto with that volatility? Much higher risk tolerance than I have for sure.But I did ask for free advice and so it was given.

            • Jam2G on 05/02/2026 - 00:22
              -1

              @Paccers: No never put all your eggs in one basket, more a 25/25/10/10 split

              • Eriadnile on 05/02/2026 - 07:13
                +1

                @Jam2G: Never put all your eggs in one basket, what makes you think someone doesn't already have stock market investments and holding cash is also a strategy to diversify?

                • Pufff on 05/02/2026 - 09:29

                  @Eriadnile: Because people like this are prime examples of Dunning-Kruger.

              • tenpercent on 07/02/2026 - 11:07

                @Jam2G: Why would you 25% in bonds? Are you getting a higher yield than a HISA?

  • Nedkellyinthebush on 04/02/2026 - 18:01

    Is the savings accelerator for new customers only?

    • atwilliams on 04/02/2026 - 18:31
      -1

      Nope

      • jecec on 04/02/2026 - 19:33
        +1

        The bonus rate is for new customers only, who have never held an ING account.

  • ltzJack on 04/02/2026 - 18:10
    +4

    Still waiting for BOQ's update on savings rate, hope they'll increase to 5.1% so no need to move my money again.

    • Arc on 05/02/2026 - 05:29
      +1

      BOQ suck, over the years they took over state unions and then f'd the members…

  • gadgetguy on 04/02/2026 - 18:12

    "The variable kick starter rate is not available on a Savings Accelerator if any account holder has ever held a personal savings account with ING."

    • ozproud on 04/02/2026 - 18:17

      does it mean that if I already have SM, I cannot get the SA rate?

      • gadgetguy on 04/02/2026 - 19:31
        +1

        That's how I read it.

    • jecec on 04/02/2026 - 19:32

      Ohh thanks for this comment. I was about to open one, but i had one about 12 years ago.

      • Yola on 08/02/2026 - 08:59

        With some FI there is a period of some years that your account has been closed they consider you a new customer again. Call them and check.

  • Hiphopopotamus on 04/02/2026 - 18:16
    +9

    A lot of banks are increasing their balance amounts, an increase to their 100k limit would be really good.

  • dmateos on 04/02/2026 - 18:35
    +3

    Just wish they would revamp their login/security and allow better passwords..

    • McMaferMur on 04/02/2026 - 18:42
      +2

      And use real 2fa

    • thesainter on 04/02/2026 - 19:13

      Does not seem like it, they have been rolling out a new app and annoyingly it specifically wants a 5 digit PW, why not 6, easier to remember or just let us do a proper long PW.

  • BigRiggs24 on 04/02/2026 - 18:51
    +1

    Give us 5.1% BOQ…

    • Mike444 on 04/02/2026 - 19:47

      Even if they do, that's only on 50k balance :(

      • BigRiggs24 on 04/02/2026 - 19:55

        I'm guessing no way around that…? Making an additional savings account? If not then I also got Macquarie as a backup

        • tenpercent on 04/02/2026 - 20:26

          Second account in the spouse's name?

      • Notoriousbird on 04/02/2026 - 20:51
        +1

        Just make another savings account.

        You can get the bonus up to 9 accounts.

        • archiexyz on 04/02/2026 - 20:59

          Is that verified? Even if so, would be a risk due to the below from their website: "Tiered interest is calculated and paid on the total balance of all Future Saver Accounts that are held in the same name. The amount of interest you will earn is determined by the balance in your account."

          • Notoriousbird on 04/02/2026 - 21:16
            +5

            @archiexyz: I've been doing it for a year no problems. I have 3 accounts.

            Worst case you miss a month of interest if they fix it.

  • sludo on 04/02/2026 - 18:57
    -2

    Any decent low/medium risk etf gives you double this and in the current market it’s a good time to start one.

    • jecec on 04/02/2026 - 19:31

      Yeah, not sure about that. Its high at the moment and fear is creeping in.

      But theres no perfect time.

    • nathanfsb on 04/02/2026 - 20:14
      +2

      a savings account and an ETF are not the same thing.

    • MeatyOne on 04/02/2026 - 20:23

      I agree that a decent ETF would undoubtably give better returns, however as someone else has said, markets are high and fear is creeping in. Unless those ETFs have good diversification in defence based companies, there is a high risk of markets taking a dive in the next 18 months. The AI bubble is hitting a bit of a peak, and their is a lot of hesitance around the world in big investment in US companies with the constant threat of tariffs, home grown alternatives, etc. I still have a nice chunk in ETFs, but when savings accounts start getting me returns of 5.5% and upwards, I like to mitigate those risks. 5.5% and up is a happy place to keep a good chunk of savings and let it work. Below that, other investment vehicles are primo.

  • Frozensage on 04/02/2026 - 18:59

    woah 5.4%… could almost be making money from my mortgage

Login or Join to leave a comment
Login Join