9.4

Finder Score

Excellent

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Maximum variable rate: 5.00% p.a.
Base interest rate: 3.95% p.a.

Our verdict

The bigger your balance, the more interest you'll earn with an ING Savings Accelerator account.

Finder Awards 2025 winner

Customer Satisfaction Award

For a limited time, new ING customers can get a Kick Starter bonus rate of 1.05% p.a. on their savings rate on balances of up to $500,000 for the first 4 months.

The table below shows the rate you can get depending on your balance. The max rate is the total rate (ongoing plus bonus rate). The ongoing rate is what you'll earn once the 4 month Kick Starter bonus is over.

Balance required	Ongoing rate	Max rate (with bonus)
$150,000–$500,000	3.95%*	5%
$50,000–$149,999	3%	4.05%
$0–49,999	2.1%	3.15%

*If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 3.95%

Pros

No monthly account fees.

Special offer:

Savings Accelerator (Kick Starter offer). For a limited time, new ING customers can get a bonus 1.05% p.a. on their savings rate on balances of up to $500,000 for the first 4 months. T&Cs apply.

ING offers the serious saver a tiered savings account that could accelerate your financial growth. The ING Savings Accelerator rewards you with higher interest rates for larger balances. These rates are variable and tiered, applied to every cent in your savings account. The Savings Accelerator will need to be linked to another account to allow you to move your money in and out easily.

Details

Key details

Product Name	ING Savings Accelerator
Maximum Variable Rate	5.00% p.a.
Standard Variable Rate	3.95% p.a.
Monthly Account Fee	$0
Minimum Opening Deposit	$0
Minimum Age	18

Most Loved Savings Account: ING

ING is Australia's most loved brand for savings accounts this year. With the bank consistently offering market-leading interest rates on its popular Savings Maximiser account, it's not hard to see why it came out in the top spot.

Key features

Earn more interest as your balance grows

The higher your savings balance, the higher the rate of interest you can earn. Earn up to 5% on balances of $150,000 or more. A lower rate of interest applies to balances less than $150,000.

$0 Monthly account keeping fees

With the Savings Accelerator you are not charged any fees. You could however be charged a fee by the financial institution which holds your linked account.

Interest payments

Interest is calculated daily on the entire account balance of up to $5 million, and paid into the account at the end of the last day of every month.

Up to two account holders available

This is a personal savings account that allows up to two individuals as joint account holders. Compare and review more ING bank products.

How can I access this account?

You can access this account around the clock using internet and phone banking. Set up recurring transfers from your nominated account into the Savings Accelerator to help you build your savings balance.

ING Mobile app available

ING has developed a mobile app that allows you to access your account no matter where you are. This is available for free, both from the App Store and Google Play.

Link to any Australian bank account

You'll be asked to nominate an eligible ING account or an Australian bank account. It must be a personal account with a BSB and account number. Unfortunately, credit cards, passbooks or accounts that don't have a BSB or Account numbers are not accepted.

Launch savings calculator

How to apply

Both new and existing customers can apply for the ING Savings Accelerator by starting an online application. There are some eligibility requirements that the bank will ensure that you are able to meet before they will issue you the account.

Eligibility

Minimum age. Australians as young as 18 years of age are eligible for this account.
Residency requirements. You must be an Australian resident for tax purposes. United States citizens and tax residents must state this on the application and provide ING with their social security number (SSN) or tax identification number (TIN).
Depository requirements. There is no minimum deposit required to open this savings account.

Documentation needed

You will also need to provide some documentation while filling out your application in order for it to be processed correctly. This will include:

Tax file number. ING will use your tax file number (TFN) or exemption code in order to withdraw the correct withholding tax from your interest earnings.
Identification. Acceptable forms of identification that will allow the bank to verify your identity include a driver's licence, passport or Medicare card.
Linked account details. The account number and name of another banking account, either with ING or other Australian financial institution, in order for the account to be linked to the Savings Accelerator so that you can transfer funds freely.

What happens after I submit my application?

If ING does not need any additional information from you, they will notify you when the account is opened and provide you with the details. If you have opted for a linked account that is not with ING, you will need to complete a direct deposit or deposit a cheque into the Savings Accelerator before it can be activated.

Go to site More info

Sources

Finder writers are subject matter experts and use primary sources, in-depth research and interviews with other experts to ensure you're getting accurate, up-to-date information. Articles are fact checked in line with our editorial guidelines.
1. ING Savings Accelerator information page
2. ING Savings Accelerator TMD

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Alison Finder

Editorial Manager, Money

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Douglass

January 27, 2026

is the deposited money government grantee

Alison Banney Finder

January 28, 2026

Hi,

Yes, deposits up to $250,000 in ING are covered under the Government Guarantee. Note that this is a combined balance across all accounts you may have with ING.

Thanks,

Alison

sharyn

January 01, 2026

I have only been with ING for a short time, and started with Orange card account and then Savings Maximiser account. I have just transferred across to Savings Accelerator and need confirmation if I qualify for the 5.00% interest rate for 4 months. If this means my interest rate is worse off I will move away from ING my balance is over 150K so I had to move across from the Savings Accelerator.

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Alison Banney Finder

January 05, 2026

Hello,

Unfortunately if you’ve held an INg Savings Maximiser account in your name then you are not eligible for the special 5.00% rate on the ING Savings Accelerator. The variable kick starter rate is not available on a Savings Accelerator if any account holder has ever held a personal savings account with ING.

Thanks,

Alison

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Sed

May 01, 2025

Can I access the interest each month whilst still earning interest for that month.

Sarah Megginson Finder

May 02, 2025

Hi Sed,

To earn bonus interest with ING, there are no conditions you need to meet – you’ll earn competitive rates without needing to deposit a certain amount each month or meet transaction requirements. Interest is calculated daily, but paid monthly. So, you can withdraw the interest each month if you wish, without impacting the interest you’ll earn. Hope this helps!

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jon gaul

October 29, 2024

do these rates pay to SMSF accounts?

Angus Kidman Finder

October 29, 2024

Hi Jon, This particular ING account is aimed at individuals, not SMSF accounts. ING does offer an SMSF term deposit, we’ve summarised its key features in our guide.

Dorothy

September 26, 2024

Can my husband and I have two joint accounts on this product, or would we need to have two single accounts to the value of $500k each ?

Angus Kidman Finder

September 27, 2024

Hi Dorothy, This ING account allows both joint accounts and the ability to hold multiple accounts, but in practice you wouldn’t be able to have two sets of joint accounts. The other main restriction is that the balance across all the accounts can’t top $5 million, and you don’t earn bonus interest on any amount over $500,000. Also remember that amounts above $250,000 aren’t covered by the government deposit guarantee, so you might want to avoid having more than that in any single bank if you’re risk-averse. Hope that helps!

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Alison is an editor at Finder and a personal finance journalist with over 10 years of experience, having contributed to major financial institutions and publications such as Westpac, Money Magazine, and Yahoo Finance. She is frequently quoted in media outlets like SmartCompany and SBS, offering expert insights on superannuation and money management. Alison holds a Bachelor of Communications in Public Relations and Journalism from the University of Newcastle, and has earned three ASIC RG146 certifications in superannuation, securities and managed investments and general financial advice, ensuring her expertise is fully aligned with ASIC standards. See full profile

ING Savings Accelerator ($150,000 – $500,000)

Pros

Special offer:

Savings Accelerator (Kick Starter offer). For a limited time, new ING customers can get a bonus 1.05% p.a. on their savings rate on balances of up to $500,000 for the first 4 months. T&Cs apply.

Most Loved Savings Account: ING

Key features

Earn more interest as your balance grows

$0 Monthly account keeping fees

Interest payments

Up to two account holders available

How can I access this account?

ING Mobile app available

Link to any Australian bank account

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Sources

Sources

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