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Interest rates

Interest rates announcement

Some of our interest rates are changing

See tables below for details.

Savings interest rate changes

Savings interest rate changes

Here's how interest rates are changing for ING savings accounts and when they become effective.

Savings Maximiser
Variable interest rate
Effective from 14/06/2023

5.50% p.a. highest variable rate (made up of the standard variable rate and 4.95% p.a. additional variable rate) for customers who also have an Orange Everyday Bank account and do these things each month.

1. Deposit at least $1,000 from an external source to any personal ING account in their name (excluding Living Super and Orange One)
2. Make 5 or more settled (not pending) eligible ING card purchases
3. Grow their nominated Savings Maximiser balance (excluding interest earned for the current month).

When the criteria is met in a calendar month, the benefits and additional variable rate will apply in the next calendar month. Available on one account for balances up to $100,000.

The standard variable rate is 0.55% p.a.

5.50% p.a. highest variable rate (increased from 5.25% p.a.), made up of:

4.95% p.a. additional variable rate for eligible customers (increased from 4.70% p.a.)

0.55% p.a. standard variable rate (remains unchanged)

Savings Goal Calculator
See how much you need to put away, and how often, to reach your target.
Term Deposit Calculator
See how your money can grow, based on current rates and the term you choose.
Home loan interest rate changes

Home loan interest rate changes

Here's how interest rates are changing for ING Home Loans and when they become effective.

Variable rate loans

ING Variable Home Loan interest rates for existing owner occupier and investor borrowers will increase by 0.25% p.a. from 14 November 2023.

Repayment amounts

Principal and interest minimum repayments will change from 29 December 2023.

Interest only repayments will change from 1 December 2023.

All customers with a variable rate home loan will be sent a letter confirming any changes. How you’re affected depends on what type of home loan account you have. For more information on repayments, see FAQ’s below.

Checking your current and new rate and repayments

You can check your current ING Home Loan interest rate and repayment amount anytime by logging into your ING app or online banking at

To see your new rate simply login on or after the 14 November 2023.

To see your new repayment amount simply login on or after the 15 November 2023.

How do I find out my new interest rate before the effective date?

To calculate what your new interest rate will be from 14 November 2023, all you have to do is:

  1. Open your ING app
  2. Select your Home Loan account
  3. Select the interest tab to find your current interest rate
  4. Follow the below calculation to work out your interest rate

Your current interest rate plus the rate change of 0.25% = Your new rate as of 14 November 2023.

Online banking
  1. Login to
  2. Go to my accounts then select your home loan
  3. Your current interest rate is displayed here
  4. Follow the below calculation to work out your interest rate

Your current interest rate plus the rate change of 0.25% = Your new rate as of 14 November 2023.



Here's some of the more frequently asked questions about interest rate changes.

Why are interest rates changing?
  • ING regularly reviews interest rates across its products to ensure we can adjust to market change while continuing to be best placed to provide you with simple, effective banking products. This means occasionally we need to change our rates.

Helpful resources

Helpful resources

There are lots of smart ways you can get ahead on your home loan. From making extra repayments to changing your repayment frequency or even your loan type. Here’s just 4 home loan hacks to get you started.

Make extra repayments if you can

Paying extra into your home loan account in addition to your regular minimum repayment amount is a straightforward way to save on interest and potentially cut years off your loan.

More about extra repayments

Repayment calculator

Think about your repayment frequency

Depending on your loan, you can choose fortnightly or monthly repayments. Paying monthly can be convenient if you get paid monthly but paying fortnightly could save you interest long term.

More about repayment frequency

Find the home loan that works for you

As life changes, we understand your home loan needs can change too: e.g. if you want more certainty, switching to a fixed rate loan – or splitting between fixed and variable – could help.

Compare our loans

Switching your loan

Splitting your loan

See what support options are available

If something’s changed or you've been affected by a natural disaster (like a bushfire or flood) and you're finding it hard to make repayments, our financial support team’s here to help.

Support options