If you’re on the hunt for something with a little more legroom than your stock standard term deposit account, then you’re in luck! The ING Term Deposit offers a wide range of term options and interest rates ranging up to 4.90% p.a. for a 1-year term.
Setting it apart from the rest, the ING Term Deposit offers an extensive variety of term options, starting from as little as 3 months right up to 2 years. As with most term deposits, the interest rates generally get better the longer you’re willing to lock your money away. ING starts with a 4.75% p.a. rate for a 3-month term, up to 4.90% p.a. for a 1-year term.
Should you choose to close your Term Deposit before it reaches maturity, although you won’t incur any additional account fees, your interest earned will be calculated by the rate which reflects the total term for which you held your account.
Another great feature about the ING Term Deposit is you have the freedom to have your interest paid into a different bank of your choosing once your account reaches maturity.
Keep in mind that you won’t be able to top up or withdraw funds from your Term Deposit account before its maturity date, which can actually be a blessing in disguise for self-sabotaging savers who find that temptation often gets the better of them.
With a minimum opening deposit of $10,000, the ING Term Deposit could be a fantastic option for Aussies seeking the peace of mind in knowing their savings are in a safe and temporarily out of reach place.
If you do decide to go with the ING Term Deposit, keep in mind that while this account offers lots of flexible options, as with any term deposit, after the account is opened you can’t alter the term length, top up your balance or access your funds until it reaches maturity without paying fees or penalties.
|
4.75% p.a. ($10,000 to $5,000,000) |
|
|
4.75% p.a. ($10,000 to $5,000,000) |
|
|
4.85% p.a. ($10,000 to $5,000,000) |
|
|
4.65% p.a. ($10,000 to $5,000,000) |
|
|
4.65% p.a. ($10,000 to $5,000,000) |
|
|
4.60% p.a. ($10,000 to $5,000,000) |
|
|
4.90% p.a. ($10,000 to $5,000,000) |
|
|
4.50% p.a. ($10,000 to $5,000,000) |
|
$10,000.00 |
|
|
$5,000,000.00 |
|
yes |
|
|
yes |
|
|
31 days notice required if customers want to withdraw their funds before the maturity date. |
|
|
none |
Different interest rates apply to different amounts or different interest payment frequencies.
The most hassle free banking I have ever used. There were no negatives.
Read full reviewThe most hassle free banking I have ever used. There were no negatives.
I am happy with the service I received from them and I recommend other people to do the same.
Read full reviewI am happy with the service I received from them and I recommend other people to do the same.
Great interest rates and excellent customer service.
Read full reviewGreat interest rates and excellent customer service.
For a term deposit the rates are competitive and simply understood. This is something you can do yourself if you know your objective. Assistance by phone or email is available from well informed staff who never give you the impression that you've asked a stupid question.
Read full reviewFor a term deposit the rates are competitive and simply understood. This is something you can do yourself if you know your objective. Assistance by phone or email is available from well informed staff who never give you the impression that you've asked a stupid question.
This bank was perfect for my needs when looking for a term deposit with a good rate. I feel safe when using it as it has a unique way of entering the online site and always asks me to provide my details before giving me access to my account. This gives me peace of mind. It has an awesome, easy to use phone app and it is linked directly to one account only and that is my personal everyday banking account! In the one instance that I did need to contact customer service, I found it easy to find contact details, was connected fast and my questions were answered comprehensively and to my high satisfaction!
Read full reviewThis bank was perfect for my needs when looking for a term deposit with a good rate. I feel safe when using it as it has a unique way of entering the online site and always asks me to provide my details before giving me access to my account. This gives me peace of mind. It has an awesome, easy to use phone app and it is linked directly to one account only and that is my personal everyday banking account! In the one instance that I did need to contact customer service, I found it easy to find contact details, was connected fast and my questions were answered comprehensively and to my high satisfaction!
