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 27/03/2026
Kick starter offer – for the first 4 months for new to ING savings customers
Available on accounts opened from 27 March 2026.
Accounts with balances $150,000 - $500,000 – 5.65% p.a. variable
Accounts with balances $50,000 - $149,999.99 – 4.70% p.a. variable
Accounts with balances $0 - $49,999.99 – 3.80% p.a. variable
These rates include the variable kick starter rate of 1.05% p.a., which applies on top of the ongoing variable rate on balances of up to $500,000 for 4 months from the date of account opening (that is, the date an account number is issued). For balances over $500,000 the ongoing variable interest rate will apply. The advertised kick starter rate doesn’t apply to accounts opened before 14 November 2025 – you can view your current rates through Online Banking or the Mobile App.
Ongoing variable interest rate
Accounts with balances $150,000 - $5,000,000.00 – 4.60% p.a. variable
Accounts with balances $50,000 - $149,999.99 – 3.65% p.a. variable
Accounts with balances $0 - $49,999.99 – 2.75% p.a. variable
The rates for each balance tier apply to the entire account balance, up to the limits stated.
Upcoming changes: On 1 May 2026, changes are coming to Savings Accelerator, including new balance tiers, new interest rates, and a switch to stepped interest where each part of your account balance earns the rate for its tier. Learn more about the change here.
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.
