Home News ING to boost savings account rate to 4.30% p.a.

ING to boost savings account rate to 4.30% p.a.

ING has responded following Tuesday's RBA decision, with savers rewarded with a 0.25% increase to Savings Maximiser accounts taking the rate to 4.30% p.a.

By Staff Writers

First published on 03 Nov 2022

Fact Checked

ING to boost savings account rate to 4.30% p.a.

This increase sees ING reclaim top-spot from Bank of Queensland in the savings account pecking order according to Savings.com.au market research.

ING previously lifted its Savings Maximiser rate to 4.05% p.a. last month off the back of RBA's October increase.

New and existing ING customers are eligible for the new rate of 4.30% p.a. for balances up to $100,000 from 8 November 2022.

ING's new Savings Maximiser rate beats out other popular savings account options such as the 3.85% p.a. on offer from ubank which will take effect from 1 December 2022.

@savings.com.au From Tuesday November 8, ING will lift its popular Savings Maximiser account to a market-leading 4.30% p.a! 💰 For all the latest savings account news, head to savings.com.au #fintok #fintokaustralia #ausfinance #savings #savingsaccount #ing #moneytok #banking #money #moneynews #bankingnews ♬ original sound - Savings.com.au

ING 4.30% p.a. Savings Maximiser eligibility criteria

To receive ING’s rate of 4.30% p.a. customers must:

Deposit at least $1,000 from an external source.
Make five or more settled card purchases.
Grow the balance on the nominated Savings Maximiser account by making sure the balance of the account is greater at the end of the month than the month prior.

See more: Which banks are increasing savings rates following November's cash rate rise?

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Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.

Deposit amount

Compare

Provider	Base interest rate	Max interest rate	Total interest earned	Introductory Term	Minimum Amount	Maximum Amount	Account Keeping Fees	Min. Monthly Deposit	Min. Opening Deposit	Linked account required	ATM Access	EFTPOS Facility	as ofNovember 21, 2024

	4.35^%_p.a.	Intro rate for 4 monthsthen 4.35% p.a. 5.60^%_p.a.	^$281	4	^$0	^$249,999	0	0	1	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	More details
	High Interest Savings Account (<$250k) Bonus rate for the first 4 months from account opening No account keeping fees No minimum balance
High Interest Savings Account (<$250k) Bonus rate for the first 4 months from account opening No account keeping fees No minimum balance More details
	5.00^%_p.a.	Intro rate for 4 monthsthen 5.00% p.a. 5.50^%_p.a.	^$276	4	^$0	^$249,999	0	0	0	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	More details
FEATURED	Savings Account A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking No withdrawal notice periods or interest rate penalties Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace
Disclosure
FEATURED Savings Account A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking No withdrawal notice periods or interest rate penalties Save up to 10% on eGift cards at over 50 retailers with Macquarie Marketplace More details Disclosure
	4.70^%_p.a.	Intro rate for 4 monthsthen 4.70% p.a. 5.40^%_p.a.	^$271	4	^$250,000	^$99,999,999		0	0	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	More details
FEATURED	Savings Accelerator Special offer: Savings Accelerator (Kick Starter offer). For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply. If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7%
Disclosure
FEATURED Savings Accelerator Special offer: Savings Accelerator (Kick Starter offer). For a limited time, new ING customers can get a bonus 0.70% p.a. on their savings rate on balances of $150,000 up to $500,000 for the first 4 months. T&Cs apply. If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.7% More details Disclosure
	3.75^%_p.a.	Intro rate for 4 monthsthen 3.75% p.a. 4.45^%_p.a.	^$223	4	^$50,000	^$249,999		0	0	$product[$field["value"]]	$product[$field["value"]]	$product[$field["value"]]	More details
	Savings Accelerator
Savings Accelerator More details

Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of November 21, 2024. View disclaimer.

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For home loans, the base criteria include a $400,000 loan amount over 30 years. For car loans, the base criteria include a $30,000 loan over 5 years. For personal loans, the base criteria include a $20,000 loan over 5 years. These rates are only examples and may not include all fees and charges.

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Rates and product information should be confirmed with the relevant credit provider. For more information, read Savings.com.au’s Financial Services and Credit Guide (FSCG).

ING to boost savings account rate to 4.30% p.a.

ING 4.30% p.a. Savings Maximiser eligibility criteria

High Interest Savings Account (<$250k)

High Interest Savings Account (<$250k)

Savings Account

Savings Account

Savings Accelerator

Savings Accelerator

Savings Accelerator

Savings Accelerator

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ING to boost savings account rate to 4.30% p.a.

ING 4.30% p.a. Savings Maximiser eligibility criteria

High Interest Savings Account (<$250k)

High Interest Savings Account (<$250k)

Savings Account

Savings Account

Savings Accelerator

Savings Accelerator

Savings Accelerator

Savings Accelerator

Staff Writers

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Important information

Editorial Integrity

Advertiser Disclosure

Product Coverage and Sort Order

Comparison Rate Warning and Base Criteria

Monthly Repayment Figures

Related Brands

General Advice Disclosure