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ING Savings Maximiser

Interest rate
0.10% p.a.(for $0 and over)
Maximum rate
1.80% p.a. (for $0 to $100,000)

Mozo editorial review ING Savings Maximiser

Last updated: 31 March 2020.

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What's hot
  • 1.80% p.a. ongoing bonus rate if conditions are met
  • No account fees
What's not
  • $100,000 balance cap on bonus rate
Mozo snapshot

The ING Savings Maximiser has a standard variable interest rate of 0.10% p.a., but if you have a linked Orange Everyday Account, deposit at least $1,000 a month from an external source (e.g. your salary) and make at least 5 purchases on your debit or credit card each month, you'll get a bonus rate of 1.70% p.a. (or 1.80% p.a. in total) which will put you in the right direction to maximise those precious savings. 

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Key features

The combination of no account fee, no balance minimum and free transactions over the phone and on the net will give you the flexibility to access your dollars without any hidden slaps.  

Keep in mind the bumper 1.80% p.a. bonus variable rate is only available when you also have an Orange Everyday bank account, deposit at least $1,000 or more and make 5 purchases on your credit or debit card each month. It also only applies for balances up to $100,000 after which the standard variable rate is 0.10% p.a. 

If you ever need to have a rant or rave about your savings account, you'll be able to ring up the 24/7 Australian-based customer service hotline and get it off your chest.

Prefer to do your banking on your smartphone? You're in luck! You'll be able to transfer money into your Savings Maximiser with ease thanks to the ING banking app.

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Who is it good for

The Savings Maximiser is only available for personal banking customers and you must also be an Australian citizen. The Savings Maximiser has an eligibility requirement of 13 years and over (usually 18 years with savings accounts), making this savings account a potentially great way to transition from a children's savings account to a savings account with a linked transaction account.

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Any catches

Just be sure to supply your Tax File Number at time of sign up or tax on your interest will be deducted at the highest possible rate.

Details

Rates and fees information correct as at 5 July 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • Balances from $0: 0.10% p.a.

  • Balances from $0: 1.80% p.a.
    Balances from $100,000: 0.10% p.a.

  • For customers who have an Orange Everyday and deposit at least $1,000 from an external bank account and make at least 5 card purchases using your ING debit card each month

Fees
  • $0.00

  • n/a

  • unlimited free transactions from internet, phone.

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • n/a

  • $0.00

  • $0.00

  • n/a

Other financial bits
  • $0.00

  • $0.00

  • Monthly

Features
  • no

  • none

  • no

  • no

  • no

  • no

  • no

  • yes

  • yes

  • no

  • no

  • Must link to a transaction account

  • No minimum deposits or transactions needed to receive bonus rate when linked with Orange Everyday Youth Account

  • none

Customer Reviews

How are ING savings accounts rated by the Mozo community?

Overall customer rating
8.9/10
Price
8.9/10
Features
7.9/10
Customer service
8.5/10
Convenience
8.4/10
Trust
8.8/10

Latest reviews of ING Savings Maximiser

  • Overall 9/10
    One of the best digital banks.

    ING gives the best interest rate with the Savings Maximiser feature. Baking is easy. They don't have their own ATMs however you can withdraw money from any other bank machine provided that you deposit $1000 every month and make 5 qualifying transactions with your ING account. Otherwise, money withdrawal from ATM will incur charges.

    Read full review

    ING gives the best interest rate with the Savings Maximiser feature. Baking is easy. They don't have their own ATMs however you can withdraw money from any other bank machine provided that you deposit $1000 every month and make 5 qualifying transactions with your ING account. Otherwise, money withdrawal from ATM will incur charges.

    Price
    10/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    9/10
    Less
    Syed, Victoria reviewed 6 days ago
  • Overall 8/10
    Great online bank. Always ahead of the competition

    Pro -All online and easy to deal with. Con -Depositing money or cheque’s can be a bit of a hassle and take a while to get into your account.

    Read full review

    Pro -All online and easy to deal with. Con -Depositing money or cheque’s can be a bit of a hassle and take a while to get into your account.

    Price
    8/10
    Features
    7/10
    Customer service
    6/10
    Convenience
    6/10
    Trust
    8/10
    Less
    Matthew, Victoria reviewed 10 days ago
  • Overall 7/10
    No penalties, very flexible banking

    You can transfer money out of it without being penalised. The minimum amount to get the interest extra rate is pretty low. Very competitive.

    Read full review

    You can transfer money out of it without being penalised. The minimum amount to get the interest extra rate is pretty low. Very competitive.

    Price
    8/10
    Features
    4/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    7/10
    Less
    Alexandra, South Australia reviewed 11 days ago
  • Overall 10/10
    Competitive interest rates for savings accounts.

    Perfect for joint savings accounts. The app is basic and easy to use and they have a great interest rate.

    Read full review

    Perfect for joint savings accounts. The app is basic and easy to use and they have a great interest rate.

    Price
    10/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    10/10
    Less
    Stephanie, Victoria reviewed 11 days ago
  • Overall 10/10
    Reliable service provider

    Not constantly changing account terms, charging fees or making update the app every week! Seems secure without the headaches of SMS codes.

    Read full review

    Not constantly changing account terms, charging fees or making update the app every week! Seems secure without the headaches of SMS codes.

    Price
    10/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    6/10
    Trust
    8/10
    Less
    Chris, Australian Capital Territory reviewed 12 days ago
ING

About ING

ING is part of the ING Group, one of the world's largest financial institutions, but it isn't like other banks. ING pioneered branch-less banking in Australia, getting rid of branches and passing on the savings to customers in the form of better rates and lower fees. From high interest savings accounts and term deposits to low rate home loans, ING aims to keep your banking simple.

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