The ING Savings Maximiser has a standard variable interest rate of 0.55%, but if you can meeting monthly conditions, you'll get a bonus rate of 2.55% (or 3.10% in total) which will put you in the right direction to maximise those precious savings. There are a few steps though: you'll need to have a linked ING Orange Everyday Account, deposit at least $1,000 a month from an external source (e.g. your salary) and make at least 5 settled card purchases each month, as well as grow your savings balance by more than the accrued interest.
The account also picked up a 2022 Mozo Experts Choice Bank Accounts and Savings Award in the best Regular Saver category!
The combination of no account fee and a generous ongoing bonus rate could make ING's Saving Maximiser a rewarding place to stash your savings. Keep in mind the bumper 3.10% bonus variable rate is only available when you also have an Orange Everyday bank account and hit the following monthly requirements:
One of the other handy features about the account is the round-up tool. Users can set up their desired round-up figure to the nearest $1 or $5, then every time they make a purchase the difference will be deposited into their savings. For example, a $3.50 coffee will be rounded up to $4 and that 50c difference will be automatically deposited into savings.
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.
The Savings Maximiser has an eligibility requirement of 13 years and over, so with that in mind, it could be prove a competitive account for both teenagers and adults to grow their savings balances - as long as they're able to meet the monthly deposit requirements.
Bear in mind that the maximum bonus rate of 3.10% only applies on balances of up to $100,000 and balances over that figure will receive the base rate of 0.55%. So if you've got a much larger savings balance, you may want to compare other savings accounts with higher thresholds.
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Balances from $0: 0.55% p.a. |
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Balances from $0: 3.10% p.a. |
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For customers who have an Orange Everyday and in each month deposit at least $1,000 into a personal ING account, make at least 5 settled card purchases using the linked ING debit card and grow the account balance higher at the end of the month (excluding interest) than it was at the end of the previous month. |
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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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none |
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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 be linked to an Orange Everyday transaction account to receive the bonus rate. Where multiple Savings Maximiser Accounts are held, the bonus rate is only applied to one nominated account. |
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No minimum deposits or transactions needed to receive bonus rate when linked with Orange Everyday Youth Account |
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13+ |
I had quite a lot of money with Ing , it was making 0 interest , the customer service is non existent, they don’t give a toss about customers. Try ring them the wait time is nearly one HOUR . CRAP BANK CRAP SERVICE , I’d rather dig a hole and put my money there , BANKWEST MUCH BETTER AND GERAT INTREST RATE , never again will I use ING . Dan Nolan
Read full reviewI had quite a lot of money with Ing , it was making 0 interest , the customer service is non existent, they don’t give a toss about customers. Try ring them the wait time is nearly one HOUR . CRAP BANK CRAP SERVICE , I’d rather dig a hole and put my money there , BANKWEST MUCH BETTER AND GERAT INTREST RATE , never again will I use ING . Dan Nolan
Been at ing for 6 months now and it's awesome way better than the big 4 service second to none love their service try it you won't look back
Read full reviewBeen at ing for 6 months now and it's awesome way better than the big 4 service second to none love their service try it you won't look back
No monthly keeping fees, I can withdraw money using another atm machine without any fees, Quick to action a problem when I noticed that money was withdrawn from my account that I am not sure of, they freeze the account and do an investigation. No physical office to go to and talk face to face with a person
Read full reviewNo monthly keeping fees, I can withdraw money using another atm machine without any fees, Quick to action a problem when I noticed that money was withdrawn from my account that I am not sure of, they freeze the account and do an investigation. No physical office to go to and talk face to face with a person
ING is used as an online bank for us (Quite OK). We get bonuses for paying utility bills and drawing our money out. Our debit card can be used overseas and we don't have any fees. Also we get good interest on our savings.
Read full reviewING is used as an online bank for us (Quite OK). We get bonuses for paying utility bills and drawing our money out. Our debit card can be used overseas and we don't have any fees. Also we get good interest on our savings.
I like this bank due to their amazing interest rates on savings maximiser accounts and ability to waver atm fees. Downfalls are there is no physical branch available in my area (Coffs Harbour).
Read full reviewI like this bank due to their amazing interest rates on savings maximiser accounts and ability to waver atm fees. Downfalls are there is no physical branch available in my area (Coffs Harbour).
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