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 27/03/2026
5.25% p.a. high variable rate (made up of the standard variable rate and 5.24% 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 0.01% p.a.
5.25% p.a. high variable rate (increased from 5.00% p.a.), made up of:
5.24% p.a. additional variable rate for eligible customers (increased from 4.99% p.a.)
0.01% p.a. standard variable rate
Variable interest rate effective from 01/05/2026
Kick starter offer - Available for the first 4 months for new to ING savings customers on their first Savings Accelerator account
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 - 5.65% p.a. variable
Tier 2 $250,000.01 - $500,000.00 - 5.65% p.a. variable
Tier 3 $500,000.01 - $2,000,000.00 - 4.60% p.a. variable
Tier 4 $2,000,000.01 - $5,000,000.00 - 2.50% 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 new to ING savings, the following variable interest rates apply to the portion of your account balance within each balance tier:
Tier 1 $0 - $250,000.00 - 4.60% p.a. variable
Tier 2 $250,000.01 - $500,000.00 - 4.60% p.a. variable
Tier 3 $500,000.01 - $2,000,000.00 - 4.60% p.a. variable
Tier 4 $2,000,000.01 - $5,000,000.00 - 2.50% 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 27/03/2026 – for new and existing customers rolling over on or after this date
4.75% p.a. – 90 day term
4.75% p.a. – 120 day term
5.05% p.a. – 180 day term
4.80% p.a. – 210 day term
4.95% p.a. – 270 day term
4.80% p.a. – 330 day term
5.20% p.a. – 1 year term
4.55% p.a. – 2 year term
Minimum opening deposit of $10,000.
