Savings interest rate changes
Here's how interest rates are changing for ING savings accounts and when they become effective.
Variable interest rate
Effective from 09/10/2026
Base rate
Applies to balances up to $2 million.
0% p.a. applies on any portion of your account balance that exceeds $2 million
Boost rate
The Boost rate applies in addition to the Base rate and, if applicable, the Welcome rate.
Eligibility
The Boost rate will apply to the account in any calendar month where the balance is at least $100 higher at the end of the month than it was at the end of the previous month.
Any interest earned doesn't count towards satisfying this requirement.
Eligibility is assessed at the end of the month.
Limits
The Boost rate applies on balances up to $500,000.
Welcome rate
The Welcome rate applies in addition to the Base rate and, if applicable, the Boost rate.
Eligibility
The Welcome rate only applies to an account where you (or any joint account holder) have not previously held a personal savings account with ING.
Limits
The Welcome rate applies
on balances up to $500,000,
for a period of 4 months from the date of account opening.
Some examples of how these rates may apply to you:
If the Welcome rate + Boost rate + Base rate apply, you could get:
If Boost rate + Base rate apply, you could get:
The Base rate applies to all accounts. Balances between $500,000 and $2 million will earn interest at the Base rate only. No interest applies to any portion of an account balance over $2 million.
2.50% p.a. variable rate
3.15% p.a. Variable rate
0.60% p.a. Variable
6.25% p.a. variable rate on balances up to $500,000. Welcome rate applies for 4 months.
5.65% p.a. variable rate on balances up to $500,000.
Variable interest rate
Effective from 09/10/2026
5.75% p.a. high variable rate (made up of the standard variable rate and 5.74% 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 an Orange Everyday, Savings Maximiser, Savings Accelerator, Personal Term Deposit, ING Personal Loan or ING Home Loan in their name.
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 0.01% p.a.
5.75% p.a. high variable rate (increased from 5.50% p.a.), made up of:
5.74% p.a. additional variable rate for eligible customers (increased from 5.49% p.a.)
0.01% p.a. standard variable rate
5.75% p.a. high variable rate (increased from 5.50% p.a.), made up of:
5.74% p.a. additional variable rate for eligible customers (increased from 5.49% p.a.)
0.01% p.a. standard variable rate
Savings Maximiser will no longer be available for new applications from 1 December 2026. If you already have a Savings Maximiser account, you can continue to use it as you do today. Learn more.
Variable interest rate effective from 09/10/2026
Kick starter offer - available on eligible accounts opened on or before 20 July 2026
The kick starter offer applies to Savings Accelerator accounts opened on or before 20 July 2026 for customers who are new to ING savings.
For customers who are eligible for the kick starter offer, the following variable rates apply to the portion of your account balance within each balance tier:
Tier 1 $0 - $250,000.00 - 6.10% p.a. variable
Tier 2 $250,000.01 - $500,000.00 - 6.10% p.a. variable
Tier 3 $500,000.01 - $2,000,000.00 - 5.05% p.a. variable
Tier 4 $2,000,000.01 - $5,000,000.00 - 2.95% p.a. variable
These rates include the variable kick starter rate of 1.05% p.a., that applies on top of the ongoing variable rate for the first 4 months on balances up to $500K. The 4 month kickstarter offer applies from the date of account opening (that is, the date an account number is issued). For any portion of your balance above $500,000, the ongoing variable interest rate will apply. You can view your current rates through online banking or the Mobile App.
Ongoing variable interest rate
After the first 4 months, or if you’re not eligible for the kick starter offer, the following variable interest rates apply to the portion of your account balance within each balance tier:
Tier 1 $0 - $250,000.00 - 5.05% p.a. variable
Tier 2 $250,000.01 - $500,000.00 - 5.05% p.a. variable
Tier 3 $500,000.01 - $2,000,000.00 - 5.05% p.a. variable
Tier 4 $2,000,000.01 - $5,000,000.00 - 2.95% p.a. variable
If your balance falls across more than one tier, each portion of your balance will earn the rate for its tier.
The combined total deposits in all your Savings Accelerator account(s) shouldn't exceed $5 million, whether account(s) are in individual or joint name(s).
Fixed interest rate effective from 14/09/2026 – for new and existing customers rolling over on or after this date
5.05% p.a. – 90 day term
5.00% p.a. – 120 day term
5.20% p.a. – 180 day term
5.00% p.a. – 210 day term
5.10% p.a. – 270 day term
5.35% p.a. – 330 day term
5.30% p.a. – 1 year term
5.25% p.a. – 2 year term
Minimum opening deposit of $10,000.
