With ING’s Savings Accelerator account, hardcore savers can earn an annual interest rate of 4.70% p.a. on balances from $150,000 to $500,000. If that sounds like you, you’ll be happy to hear that you can distribute that amount over multiple Savings Accelerator accounts, so you don’t have to worry about putting all your eggs, or savings in this case, in one basket.
The Savings Accelerator is designed to be a sort of booster account to your current savings account. Once your squirrelling pays off and you manage to reach a higher balance, the account will reward you with a higher interest rate.
Interest rates for ING’s Savings Maximiser account start from 2.85% p.a. for balances from $0 to $50,000. But if you open up a linked Savings Accelerator account, you could earn an interest rate of 3.75% for balances of between $50,000 and $150,000.
But that’s not all, once you reach a balance of between $150,000 and $500,000 on your Savings Accelerator account, your interest rate will go up again to 4.70%! So rather than being penalised for saving more, you’ll actually have an incentive to hit those big digits.
You can also rest easy knowing that you have 24/7 access to your online account and you can make unlimited free transactions at any time. So if you need to shuffle some funds around, you can! And no matter how many Savings Accelerator accounts you open, you won’t be charged any account keeping fees!
Kick Starter offer: An introductionary savings rate of +0.50% p.a. on top of your base rate for balances of up to $500,000 for the 4 months since account opening.
The ING Savings Accelerator could be a perfect fit for serious savers who have passed the $100,000 mark with their ING Savings Maximiser and are keen to carry on earning a decent interest rate on their savings.
To make this account a worthwhile addition to your Savings Maximiser, you’ll need to have at least $100,000 saved. Plus you’ll need at least $150,000 in savings, if you want to achieve the 4.70% interest rate.
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Balances from $0: 2.85% p.a. |
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Balances from $0: 3.35% p.a. |
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New ING personal savings customers receive an introductory bonus 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000. Reverts to variable ongoing rate. |
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$0.00 |
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n/a |
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unlimited free transactions from internet, phone. |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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n/a |
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$0.00 |
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$0.00 |
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n/a |
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$0.00 |
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$0.00 |
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Monthly |
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no |
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n/a |
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no |
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no |
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no |
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no |
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no |
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yes |
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yes |
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no |
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no |
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Must link to a transaction account |
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none |
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none |
Impossible to transfer money to a third-party bank to send money overseas.
Read full reviewImpossible to transfer money to a third-party bank to send money overseas.
Ing is a fantastic bank
Read full reviewIng is a fantastic bank
Easy online access.
Read full reviewEasy online access.
I find the ease of dealing with ING so wonderful. In this day and age where we are all so busy, it's refreshing to be able to get my banking sorted quickly.
Read full reviewI find the ease of dealing with ING so wonderful. In this day and age where we are all so busy, it's refreshing to be able to get my banking sorted quickly.
This bank is very easy to access online, it has competitive interest rates and very helpful staff. There is nothing that I dislike at all.
Read full reviewThis bank is very easy to access online, it has competitive interest rates and very helpful staff. There is nothing that I dislike at all.
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
4.40% p.a.(for $0 to $250,001)
Yes up to $250,000
Savings Account
5.35% p.a. (for $0 to $250,000)
4.75% p.a.(for $0 to $1,000,000)
Yes up to $250,000
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
0% p.a.(for $0 and over)
Yes up to $250,000
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
1.20% p.a.(for $0 to $5,000,000)
Yes up to $250,000
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
2.00% p.a.(for $0 to $250,000)
Yes up to $250,000
Save Account
5.10% p.a. (for $0 to $250,000)
0.10% p.a.(for $0 and over)
Yes up to $250,000
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
0.05% p.a.(for $0 and over)
Yes up to $250,000
High Interest Savings Account
5.75% p.a. (for $0 to $250,001)
Yes up to $250,000
4.40% p.a.(for $0 to $250,001)
Savings Account
5.35% p.a. (for $0 to $250,000)
Yes up to $250,000
4.75% p.a.(for $0 to $1,000,000)
Save Account
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
0.10% p.a.(for $0 and over)
AMP Saver Account
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
1.20% p.a.(for $0 to $5,000,000)
Savings+Bonus
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
2.00% p.a.(for $0 to $250,000)
Reward Saver Account
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
0% p.a.(for $0 and over)
Bonus Saver Account
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
0.05% p.a.(for $0 and over)
Reward Saver Account
0% p.a.(for $0 and over)
5.25% p.a. (for $0 to $1,000,000)
Yes up to $250,000
AMP Saver Account
1.20% p.a.(for $0 to $5,000,000)
5.40% p.a. (for $0 to $250,000)
Yes up to $250,000
Savings+Bonus
2.00% p.a.(for $0 to $250,000)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Save Account
0.10% p.a.(for $0 and over)
5.10% p.a. (for $0 to $250,000)
Yes up to $250,000
Bonus Saver Account
0.05% p.a.(for $0 and over)
5.00% p.a. (for $0 to $250,000)
Yes up to $250,000
Reward Saver
0.30% p.a.(for $0 and over)
5.25% p.a. (for $0 to $100,000)
Yes up to $250,000
Ziggy Kids Saver
0.01% p.a.(for $0 and over)
3.01% p.a. (for $0 and over)
Yes up to $250,000
Scoot Super Saver
2.75% p.a.(for $0 to $50,000)
No Current Offer
Yes up to $250,000
