ING Savings Maximiser vs ING Savings Accelerator: Which account should you choose?

By Peter Terlato · · 3 min read
Fact Checked
ING vs ING savings accounts

If you’re weighing up ING’s savings accounts, these two options compete by offering different ways to earn interest – one through monthly activity, the other through higher balances.

Let’s break it down.

Compare savings accounts side‑by‑side

The table that follows breaks down all the key features for both the ING Savings Maximiser and Savings Accelerator accounts. Then read on for our big-picture analysis, including how to unlock each account’s full potential and what type of saver each is tailored for. 

Note: The rates for each balance tier apply to the entire account balance, up to the limits stated.

Feature ING Savings Maximiser ING Savings Accelerator
Max rate
 4.80% p.a. (requires monthly conditions up to $100k)
 Up to 4.70% p.a. (includes introductory 4-month kick starter bonus) for balances $150k-$500k
Base rate
 0.05% p.a.
 Tiered: 2.10% p.a. for <$50k; 3.00% p.a. $50k-$149,999.99; and 3.95% p.a. for $150k-$5m
Conditions for bonus
 Deposit $1,000+ from external source, 5 settled card purchases, and grow the Savings Maximiser balance each month
 None – rates depend only on your balance and whether you're eligible for kick starter offer (new ING saver, no previous savings account)
Balance tiers for max rate
 Up to $100,000 (one account per customer)
 Tiered system: $150k-$500k earns max rate; higher balances also capped (up to $5m total across accounts)
Rate above cap
 Above $100k: only standard 0.05% p.a.
 Above $500k during kick-starter and always after 4 months: standard ongoing rate applies
Linked transaction account
 Orange Everyday required to meet bonus conditions
 Not required – stand-alone savings account with full functionality
Access
 Full internet and mobile banking, including benefits tracker in app
 Full internet and mobile banking
Joint account allowed
 Yes
 Yes
Monthly fees
 $0
 $0

How interest is earned

While both accounts offer competitive rates, the way interest is earned and the conditions to unlock the top rate differ, making each account better suited to different types of savers.

Feature
 ING Savings Maximiser
 ING Savings Accelerator
Maximum variable rate
 4.80% p.a.
 Up to 4.70% p.a. (includes 0.75% kick‑starter bonus for new savers, first 4 months)
Balances earning max rate
 Up to $100,000
 $150,000-$500,000 during kick‑starter bonus period
Conditions to unlock max rate
 Deposit $1,000+ into any ING account, make 5+ settled card purchases, and grow your nominated balance each month
 No monthly activity required. Rates based purely on balance tier
Interest if conditions not met
 0.05% p.a.
 No change – ongoing tiered rate still applies
Interest on balances above max rate tier
 Above $100,000 earns 0.05% p.a.
 Balances of $500,000 or more earn the standard ongoing rate for that tier, which is 4.20% p.a.
Linked account required
 Yes – ING Orange Everyday
 No – stand‑alone savings account
Suitable for…
 Engaged savers who can meet conditions each month and want a market‑leading rate on up to $100k
 Set‑and‑forget savers, especially those with larger balances who want competitive returns without conditions

What else to know

  • The ING Savings Maximiser's high rate is conditional. It's crucial to be able to meet the monthly requirements, as failing to do so will result in your interest rate dropping to the significantly lower ongoing rate of 0.05% p.a.
  • ING’s Savings Accelerator has no monthly conditions, but because it uses tiered rates, savers may still want to monitor their balance to maximise returns.
  • Deposits up to a total of $250,000 per person are covered under the Australian Government’s Financial Claims Scheme (FCS). However, this limit applies across all accounts you hold with ING – so if you have funds in both the Savings Maximiser and Savings Accelerator, your combined balance is protected up to $250,000.

ING Savings Maximiser vs ING Savings Accelerator: verdict

You may want to choose ING Savings Maximiser if you’re an engaged saver who can reliably hit the monthly conditions and want one of the highest variable rates in the Mozo database for balances up to $100k.

Otherwise, you could opt for ING Savings Accelerator if you prefer no-hassle saving, want robust tiered rates based on balance, or are parking a larger sum (≥$150k) – especially to take advantage of the kick‑starter bonus if you're new to ING.

Note: The information in this article is correct as at 19 August, 2025.

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