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Savings Accelerator

Savings Accelerator

Open my account

Earn up to

5.20% p.a.

Variable rate (4 months)

Then earn up to

4.70% p.a.

ongoing variable rate

New to ING savings? Depositing $150,000 or more?

Open a Savings Accelerator from 18 March 2024 and roll higher with our 5.20% p.a. variable kick starter offer. This includes a 0.50% p.a. variable kick starter rate for the first 4 months on balances up to $500,000. After that, roll on with our 4.70% p.a. variable ongoing rate.

Savings Accelerator

A tiered savings account, with a high variable interest rate.


Why open a Savings Accelerator?

  • New to ING savings?

    Open a Savings Accelerator from 18 March 2024 and you could earn up to 5.20% p.a. variable.
    If your account balance is $150,000 or more, you’ll get an ongoing variable rate of 4.70% p.a., plus a variable kick starter rate of 0.50% p.a. for the first 4 months on balances up to $500,000.

  • Higher balance, higher interest rates

    Get a high variable interest rate on balances over $50,000, and an even higher rate on balances over $150,000. Rate applies to your whole balance.

  • No fuss

    With a higher interest rate for higher balances, give your money every opportunity to grow towards your savings goals.
    Plus, you have the flexibility to access your funds with no monthly deposit requirements or lock-in terms.

  • Know your savings are guaranteed

    Combined savings balances up to $250,000 per customer are guaranteed by the Australian Government.

  • Access your savings 24/7

    There's no fixed term or minimum withdrawal amount. Move your money using the mobile app, online and phone banking.

Open your Savings Accelerator in minutes
Rates and fees

No fees, great rates

With no ING fees, the interest you earn is all yours.

Interest Rates

Kick starter offer - First 4 months

Available to new to ING savings customers on accounts opened from 18 March 2024, These rates include the variable kick starter rate of 0.50% 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.

Accounts with balances $150,000 - $500,000


Accounts with balances $50,000 - $149,999.99


Accounts with balances $0 - $49,999.99


Ongoing variable interest rate

Accounts with balances $150,000 - $5 million

Accounts with balances $50,000 - $149,999.99

Accounts with balances $0 - $49,999.99

The rates for each balance tier apply to the entire account balance, up to the limits stated.
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).
Open your Savings Accelerator in minutes

Got a question about Savings Accelerator?

Chances are, you'll find the answer in our FAQs.

Here are some of the more common questions we get asked:

Open your Savings Accelerator in minutes
How to get started

Put your money to work

1. Sign up online

Open a Savings Accelerator online, or over the phone 24/7. Make a deposit and start earning interest.

Open now

2. Higher balance, higher rate

Earn a high variable interest rate on balances of $50,000 and over. And get an even higher rate for balances over $150,000.

3. Access when you want it

There's no lock-in term. You can move your money when needed by making a simple funds transfer.

To open a Savings Accelerator, you must be:

An account holder using the product for personal use (if it's for your business, see our Business Optimiser account)

An Australian resident for taxation purposes

Aged 18 years or over

You'll need to give us:

An Australian residential address and telephone number

Linked bank account details to link to your Savings Accelerator account

A Tax File Number or exemption code (otherwise tax is deducted at the highest marginal rate)

An existing Client Number (if you're already with ING)

Ready? Open a Savings Accelerator now.