The ING Savings Maximiser has a standard variable interest rate of 0.05%, but if you can meeting monthly conditions, you'll get a bonus rate of 1.30% (or 1.35% 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.
But if you can meet the criteria, it's a great rate – plus, this account picked up a 2021 Mozo Experts Choice Award for best Regular Saver!
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 1.35% 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 1.35% only applies on balances of up to $100,000 and balances over that figure will receive the base rate of 0.05%. So if you've got a much larger savings balance, you may want to compare other savings accounts with higher thresholds.
| Balances from $0: 0.05% p.a. | |
| Balances from $0: 1.35% p.a. | |
| 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. |
| $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 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. | |
| No minimum deposits or transactions needed to receive bonus rate when linked with Orange Everyday Youth Account | |
| none |
Awesome bank for everyday and savings as they are an international bank with no fees when spending into shops overseas.
Read full reviewAwesome bank for everyday and savings as they are an international bank with no fees when spending into shops overseas.
Super easy to open an account. Easy to transfer between accounts. Good interest. Customer support is great.
Read full reviewSuper easy to open an account. Easy to transfer between accounts. Good interest. Customer support is great.
ING can't be trusted in paying the bonus interest on your Macimiser account. The Bonus is only paid if the end of the month balance is more than last month but it looks at the lowest amount on the last day of the month not the closing balance at the end of the last day of the month. It is a rip off and they are getting as greedy as the big banks. Time to change banks!
Read full reviewING can't be trusted in paying the bonus interest on your Macimiser account. The Bonus is only paid if the end of the month balance is more than last month but it looks at the lowest amount on the last day of the month not the closing balance at the end of the last day of the month. It is a rip off and they are getting as greedy as the big banks. Time to change banks!
Clear communication, easy to use, good app and competitive interest/bonus rate.
Read full reviewClear communication, easy to use, good app and competitive interest/bonus rate.
Whilst interest rates are at an all time low, their interest rates are double or more than most other banks, and the service is fantastic. Best interest rates at call.
Read full reviewWhilst interest rates are at an all time low, their interest rates are double or more than most other banks, and the service is fantastic. Best interest rates at call.
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Yes up to $250,000
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0.25% p.a. (for $0 and over)
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