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 $5,000,000. 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 Accelerator account start from 2.85% p.a. for balances from $0 to $50,000. But 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: Available to new to ING savings customers on accounts opened from 9 August 2024, these rates include the variable kick starter rate of 0.70% p.a., which applies on top of the ongoing variable rate on balances of up to $500,000 for 4 months from the date of account opening (that is, the date an account number is issued). For balances over $500,000 the ongoing variable interest rate will apply. The advertised kick starter rate doesn’t apply to accounts opened before 9 August 2024 – customers can view their current rates through Online Banking or the Mobile App.
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: 3.55% p.a. |
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New ING personal savings customers receive an introductory bonus 0.70% 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.
Savings Maximiser
0.55% p.a.(for $0 and over)
5.50% p.a. (for $0 to $100,000)
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
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 Maximiser
5.50% p.a. (for $0 to $100,000)
0.55% p.a.(for $0 and over)
Yes up to $250,000
Growth Saver Account
5.05% p.a. (for $0 and over)
0.35% p.a.(for $0 and over)
Yes up to $250,000
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
2.85% p.a.(for $0 to $50,000)
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
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
2.00% p.a.(for $0 and over)
Yes up to $250,000
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)
Savings Maximiser
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
0.55% p.a.(for $0 and over)
Growth Saver Account
5.05% p.a. (for $0 and over)
Yes up to $250,000
0.35% 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)
Savings Accelerator
3.55% p.a. (for $0 to $50,000)
Yes up to $250,000
2.85% p.a.(for $0 to $50,000)
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)
Life - 18-29 years old
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000
2.00% p.a.(for $0 and over)
Savings Maximiser
0.55% p.a.(for $0 and over)
5.50% p.a. (for $0 to $100,000)
Yes up to $250,000
Growth Saver Account
0.35% p.a.(for $0 and over)
5.05% p.a. (for $0 and over)
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
Life - 18-29 years old
2.00% p.a.(for $0 and over)
5.20% p.a. (for $0 to $30,000)
Yes up to $250,000
Kids Bonus Saver
0.05% p.a.(for $1 and over)
0.85% p.a. (for $5,556 and over)
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
Progress Saver
0.01% p.a.(for $0 and over)
4.25% p.a. (for $0 and over)
Yes up to $250,000
