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.
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.
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.
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.
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
$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
$0.00
$0.00
Monthly
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
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 reviewING 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.
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 reviewPro -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.
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 reviewYou can transfer money out of it without being penalised. The minimum amount to get the interest extra rate is pretty low. Very competitive.
Perfect for joint savings accounts. The app is basic and easy to use and they have a great interest rate.
Read full reviewPerfect for joint savings accounts. The app is basic and easy to use and they have a great interest rate.
Not constantly changing account terms, charging fees or making update the app every week! Seems secure without the headaches of SMS codes.
Read full reviewNot constantly changing account terms, charging fees or making update the app every week! Seems secure without the headaches of SMS codes.
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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