ING Savings Maximiser 5.75% p.a. Interest on Balance up to $100,000 (Balance Growth, 5 Card Purchases & Deposit Required) @ ING

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ING Savings Maximiser 5.75% p.a. Interest on Balance up to $100,000 (Balance Growth, 5 Card Purchases & Deposit Required) @ ING
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puglikesabargain on 30/09/2026 - 18:53 ing.com.au (771 clicks)
Last edited 12/10/2026 - 13:31 by 1 other user

Effective from 9 October 2026….5.75% p.a. high variable rate (made up of the standard variable rate and 5.74% p.a. additional variable rate) for customers who also have an Orange Everyday Bank account and do these things each month.

  1. Deposit at least $1,000 from an external source to an Orange Everyday, Savings Maximiser, Savings Accelerator, Personal Term Deposit, ING Personal Loan or ING Home Loan in their name.
  2. Make 5 or more settled (not pending) eligible ING card purchases
  3. Grow their nominated Savings Maximiser balance (excluding interest earned for the current month).

When the criteria is met in a calendar month, the benefits and 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.

The Accounts Leaderboard sets out what's currently available in the market. >> https://docs.google.com/spreadsheets/d/145iM6uuFS9m-Rul65--e…

ING Referrals

Referral: random (710)

Referee & Referrer: $100 each for opening new Orange Everyday & Saving Booster Accounts.

Referrer: Do not participate in the referral system if you do not have a current $100 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. Referral program ends 30 November

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  • eddyah on 30/09/2026 - 19:23

    time to sell the house and park that money into savings while we live on the street!

    • 26
    • LFO on 01/10/2026 - 09:26

      while we live on the street!

      while we live on the street travel around Australia!

      • 1
    • mrjames on 01/10/2026 - 10:42

      Only a good plan if your total income is under the tax free threshold otherwise you are paying your marginal tax rate on the 5.75% compared to saving the full about via a mortgage offset.

      • 3
      • Jaspa7 on 01/10/2026 - 14:30

        ..and even then, only barely keeps up with true inflation

        • 0
  • arcticmonkey on 30/09/2026 - 19:46

    Why do they take so long to up the savings rates but are super quick to up the home loan rates?

    • 12
    • dankru on 30/09/2026 - 19:57

      Capitalism

      • 27
      • whyisave on 30/09/2026 - 22:20

        Since capital can be faked, you have an "ism" based on 'faked' money.

        • 0
    • maydenjurphy on 30/09/2026 - 20:06

      How else are they going to make record profits year on year? Think of the shareholders

      • 15
    • Vool on 30/09/2026 - 21:00

      They aren't, their home loan interest rates are changing on the same day. Can't comment if they've done the same for previous rises.

      https://www.ing.com.au/rates-and-fees/interest-rate-announce…

      Variable rate loans
      ING Variable Home Loan interest rates for new and existing owner occupier and investor borrowers will increase by 0.25% p.a. from 9 October 2026.

      • 9
  • Guybrush57 on 30/09/2026 - 19:47

    How rotten is 0.01% if you don't jump through their hoops?

    • 17
    • DrScavenger on 30/09/2026 - 20:28

      Should be illegal tbh. Force the base rate to be at least 50% of bonus rate

      • 11
      • sydonk on 30/09/2026 - 20:39

        I think the hoops are overhated. Sure, they're a bit annoying but if you can't or don't want to meet the requirements, then go with a no hoops saving accounts like Macquarie which has a lower but decent interest rate.

        If you want the best interest rate, then jump through the hoops. Plus if you don't meet the requirements at the end of month 1, you don't get the bonus interest rate for month 2, so just move your money then. It's not hard.

        • 18
        • abuch47 on 30/09/2026 - 22:13

          damn what happened to macquarie only 5%.

          even up bank is 5.35% and you need just five transactions from your spending account and no withdrawals from saver

          • 0
          • artcvan on 01/10/2026 - 01:44

            @abuch47: Well Up still technically has hoops. Yes those transactions and no withdrawals aren't much, but still hoops in comparison to what Macquarie does. Hence why Up is higher anyway

            They're going to 5.25% now once October rolls around. I don't really understand the Macquarie hype as much as OzBargainers have given it, despite being a user myself though.

            • 0
          • Zodiacmindwarp on 01/10/2026 - 16:35

            @abuch47: 5.25% from 15 October

            • 0
        • simulacrum on 01/10/2026 - 16:39

          I agree… the five transactions is really the only “hoop”. If you tell your employer to deposit your salary in the ING account that takes care of the deposit. Don’t spend more than you earn (which shouldn’t be a huge hurdle for most) and that takes care of growing your balance each month. Just use the ING card for a handful of small purchases.

          • 0
      • Sebajun on 30/09/2026 - 21:28

        Amen. I don't think the criticism is valid, much less calling for such practices to be illegal. I've been with ING for 10 years and their conditions have never felt like a hassle. Just easy routine. I think I failed to meet them twice because I was travelling or busy. No big deal, I checked the boxes the month after and I was back on the highest rate. Can't be bothered —> move on.

        • 2
      • Wowza on 30/09/2026 - 21:33

        That's basically what their Savings Booster account is, 5.65% if you grow by $100, 2.5% if you don't

        • 0
    • Kparky on 01/10/2026 - 05:01

      And you have to wait a month to get the 5.75%.

      • 0
      • LFO on 01/10/2026 - 09:29

        You always have to wait to get paid interest.

        • 1
      • iglot on 03/10/2026 - 15:31

        @Kparky is pointing out that the higher interest rate only applies for the next month after meeting the hoops. But you can just deposit at the end of the month then you only have to wait a day or so.

        • 1
        • garworsby on 05/10/2026 - 11:32

          Yeah, the "next month" part is what's ruined it for me. I signed up to a Maximiser account last month because of a $100 bonus promo. Didn't use the account though. This month though, I've decided I will start using it. I deposited almost 100k, completed the requirements and now find out I only get 0.01% purely because I didn't make five transactions last month. I by chance happened to meet all of last's months requirements except for that one.

          Just explaining this in case anyone's in the same boat. If you already had a Maximiser account last month and weren't an active ING user, you're probably not going to get interest for a month. And if you do want the interest in the future, don't move all your money, just do enough to meet the month's requirements and then move it the next month. I even spoke to ING, explained that it would make more financial sense for me to move my money back to my old account, but they said they can't do anything to override the requirements.

          Maybe I just didn't notice but I thought my previous bank's bonus interest requirements were for the current month. And that makes sense because you can always take steps to make sure you get it each month.

          • 1
  • leftspeaker2000 on 30/09/2026 - 19:49

    So what do I do if I have more than $100,000

    • -2
    • smcdlsk on 30/09/2026 - 20:01

      Park it somewhere else?

      • 6
    • FeZZa21 on 30/09/2026 - 20:08

      Make a second account in the name of a family member

      • 3
      • leftspeaker2000 on 30/09/2026 - 20:25

        Could I move the delta to a savings booster ? Or is there a better option.

        • 0
      • krisspy on 01/10/2026 - 11:28

        Just do that to your main accounts, saves you from paying tax.

        • 0
    • OZKap on 30/09/2026 - 20:13

      Donate to charity.

      • 6
      • leftspeaker2000 on 30/09/2026 - 20:15

        Think anyone here needs some money ?

        • 0
        • krisspy on 01/10/2026 - 11:28

          They need iniu powerbanks

          • 1
    • Freestyle on 30/09/2026 - 21:07

      give it to rightspeaker2001

      • 5
    • ChmpgneTasteBeerBdgt on 30/09/2026 - 22:07

      Not sure about ING, but there are other banks out there that allow you to create multiple accounts to get around the cap

      • 0
      • donotuse on 30/09/2026 - 22:18

        you can nominate only 1 account that gets the highest rate

        • 1
    • whyisave on 30/09/2026 - 22:25

      Australian Government provides protection to depositors of up to $250,000 per account-holder per authorised deposit-taking institution (ADI) (bank, building society or credit union)

      https://moneysmart.gov.au/glossary/australian-government-gua…

      • 1
    • Stoibs on 01/10/2026 - 04:18

      Ok real answer, check out the Savings Booster account ING have on offer also.
      Up to 500k, Seems to be raising to 5.65% with this change also

      • 4
  • asc on 30/09/2026 - 20:47

    When was the last time the rate at 5.75?

    • 0
    • seamonkey on 30/09/2026 - 22:09
      1. Pre GFC-ish.
      • 2
    • Some Random Guy on 01/10/2026 - 00:44

      I swear I have 6% with ING rn…

      • 0
      • timhn on 08/10/2026 - 08:05

        Savings Booster for 4 months?

        • 1
  • happyangus on 30/09/2026 - 22:05

    Recession indicator

    • 6
  • sillyhead on 01/10/2026 - 06:26

    The St George incentive saver is probably the best alternative if you dont like hoops. Proper bricks and mortar bank, free saver account. No side account transaction requirements to get the good rate. Only thing you have to do to get the rate is grow your savings balance by deposting a token amount each month. (I have a $1 auto transfer). Full access to both St George and Westpac branch services.

    ING are a bit sketchy and you have to play the game all the time. Useless for home loans and credit cards also.

    • 0
    • xis123 on 01/10/2026 - 08:10

      There are no monthly account keeping fees for the Savings Maximizer? What's this fee for?

      • 1
      • Draycen on 01/10/2026 - 08:38

        Oh hang on, am I getting my wires crossed?! I think that's the credit card. Apologies, I'll unpublish my post.

        • 1
  • Maltezzerzz on 01/10/2026 - 08:35

    Juice not worth the squeeze, Judo much better 5.6% $300 monthly deposit no growth required much easier and safer that you manage to achieve each month. Also not a fan with ING that its delayed by a month so your always working a month ahead.

    • 2
  • AuQld on 01/10/2026 - 09:34

    They recon another 3 rate hikes to get inflation under control, all it does it give boomers and savers extra cash to spend.

    They'll have to force Australian bonds onto super funds because nobody wants them.

    • 1
  • Lucidium on 01/10/2026 - 09:39

    The hoops people will jump through to lose slightly less money annually…

    • -1
  • capslock janitor on 01/10/2026 - 10:40

    Any cracked 6?

    • 0
    • johnwickspuppy on 12/10/2026 - 14:50

      Get in before 1 Dec I guess. Although I wonder if they'll keep this product competitive if they will no longer accept new applications. Do you think it will grandfathered and eventually phased out?

      • 0
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