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ING Savings Maximiser

Advertiser disclosure
Interest rate
0.10% p.a.(for $0 and over)
Maximum rate
1.50% p.a. (for $0 to $100,000)
Govt deposit guarantee
Yes up to $250,000

Mozo editorial review ING Savings Maximiser

Last updated: 25 September 2020.

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What's hot
  • 1.50% 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 1.40% p.a. (or 1.50% 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 1.50% 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 28 October 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: 1.50% 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
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 8/10
    Great security but not an attractive interest rate

    ING is secure, easy to use and reliable. However interest rate is very low, close to zero, which means there is little incentive to remain loyal to them.

    Read full review

    ING is secure, easy to use and reliable. However interest rate is very low, close to zero, which means there is little incentive to remain loyal to them.

    Price
    8/10
    Features
    7/10
    Customer service
    -1/10
    Convenience
    8/10
    Trust
    9/10
    Less
    Tristan, New South Wales reviewed 21 days ago
  • Overall 9/10
    Free and easy.

    I like the Savings Maximiser with ING because you have no bank fees, can easily and instantly move money out of the account with no penalty, and earn good interest rates.

    Read full review

    I like the Savings Maximiser with ING because you have no bank fees, can easily and instantly move money out of the account with no penalty, and earn good interest rates.

    Price
    10/10
    Features
    -1/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10
    Less
    Emelye, Victoria reviewed about 1 month ago
  • Overall 9/10
    Excellent bank

    I have been with ING for approx 20 years and have always found their accounts to be extremely competitive. Customer service has also been 100%.

    Read full review

    I have been with ING for approx 20 years and have always found their accounts to be extremely competitive. Customer service has also been 100%.

    Price
    9/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Jeanette, New South Wales reviewed 2 months ago
  • Overall 10/10
    Great bank.

    Their service and features are the best Ive come across in all of my banking years. Both of my kids have signed up and we love the option of having many savings accounts with an easy to use mobile app.

    Read full review

    Their service and features are the best Ive come across in all of my banking years. Both of my kids have signed up and we love the option of having many savings accounts with an easy to use mobile app.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Kellie, Victoria reviewed 2 months ago
  • Overall 7/10
    ING savings maximiser

    Interest rates were great but have dropped very quickly. I still like the service and the international transaction rebates are a major plus. Not having many branches available doesn’t really matter to me as I do everything online.

    Read full review

    Interest rates were great but have dropped very quickly. I still like the service and the international transaction rebates are a major plus. Not having many branches available doesn’t really matter to me as I do everything online.

    Price
    5/10
    Features
    9/10
    Customer service
    7/10
    Convenience
    3/10
    Trust
    7/10
    Less
    Bec, New South Wales reviewed 3 months 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.

See ING savings accounts

MyState Bank

MyState Bank

Bonus Saver Account

1.50% p.a. (for $0 to $250,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

Bankwest

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Hero Saver

1.15% p.a. (for $0 to $250,000)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.20% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yes up to $250,000

Citi

Citi

Online Saver

1.35% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Up

Up

Saver Account

1.60% p.a. (for $0 to $50,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

MyState Bank

MyState Bank

Bonus Saver Account

1.50% p.a. (for $0 to $250,000)

0.15% p.a.(for $0 and over)

Yes up to $250,000

Bankwest

Bankwest

Hero Saver

1.15% p.a. (for $0 to $250,000)

0.01% p.a.(for $0 to $5,000,000)

Yes up to $250,000

Bank of Queensland

Bank of Queensland

Fast Track Saver Account

1.20% p.a. (for $1 to $250,000)

0.20% p.a.(for $1 and over)

Yes up to $250,000

Up

Up

Saver Account

1.60% p.a. (for $0 to $50,000)

0.10% p.a.(for $0 and over)

Yes up to $250,000

Citi

Citi

Online Saver

1.35% p.a. (for $0 to $500,000)

0.35% p.a.(for $0 and over)

Yes up to $250,000

Bankwest

Bankwest

Hero Saver

0.01% p.a.(for $0 to $5,000,000)

1.15% p.a. (for $0 to $250,000)

Yes up to $250,000

ANZ

ANZ

Progress Saver

0.01% p.a.(for $0 and over)

0.70% p.a. (for $0 and over)

Yes up to $250,000

Newcastle Permanent

Newcastle Permanent

Smart Saver

0% p.a.(for $0 and over)

1.80% p.a. (for $0 and over)

Yes up to $250,000

Auswide Bank

Auswide Bank

Ziggy Kids Saver

0.01% p.a.(for $0 and over)

2.01% p.a. (for $0 and over)

Yes up to $250,000