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Maximum variable rate: 5.85% p.a.
Base interest rate: 4.80% p.a.

Our verdict

Earn interest on your balance each month with no deposit conditions to meet or withdrawal restrictions.

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	4.8%*	5.85%
$50,000–$149,999
$0–49,999	4.8%	5.85%

*If your balance is over $500,000 (but less than $5 million) you will earn the ongoing variable rate of 4.8%

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. 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	5.85% p.a.
Standard Variable Rate	4.80% 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

Competitive interest rates

Earn up to 5.85% on balances of $500,000.01-$2,000,000

$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

Compare other products from ING

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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Cassie B

April 03, 2026

I see it has to be linked with another account why is this? I am currently with Bank SA want to grow my funds without the conditions. Currently Bank SA require a minimum deposit of $50 per month to get 4.9% variable interest otherwise it is only .10%. What are the ING conditions? Thanks for answer.

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Sarah Megginson Finder

April 13, 2026

Hi Cassie,

ING offers high interest rates, however there are actually more conditions to meet than BankSA. ING requires you to deposit $1,000/month

and it must come from an external source (e.g. your salary, or a transfer from another bank). You also need to grow your balance each month, and make 5 transactions from the attached transactions account. You said you want to “grow funds without conditions” so you might be better off looking at a low-condition account, like the Macquarie savings account, which returns ~4.75–5.10% p.a. (varies slightly) and has No monthly deposit requirement, No spending requirement, No “grow your balance” rule and No fees. Hope this helps!

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Mark

March 03, 2026

Can I withdraw my balance after the four month kick start period without consequences. What are the withdrawal fees?

Sarah Megginson Finder

March 09, 2026

Hi Mark,

Yes you can withdraw your money and close your account at any time without financial consequences. You can deposit your funds for four months, earn the interest, wait for it to be credited to your account and then withdraw the full amount and close the account if you wish.

Graeme

March 01, 2026

I have a joint orange everyday account with my wife . Am I entitled to the 5.40% saving accelerator rate for the first 4 months

Sarah Megginson Finder

March 01, 2026

Hi Graeme, You need to be a new customer to qualify for the bonus rate. Because you’re not a new customer to ING, you won’t be eligible. You can check out a few different accounts you may be eligible for here. Hope this helps!

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Ingrid

February 11, 2026

do I have to increase the balance in my ING savings account every month to receive the full interest rate?

Sarah Megginson Finder

February 13, 2026

Hi Ingrid,

No, you don’t have to increase the balance in your ING Savings Accelerator account every month to receive the interest rate. However this is requirement for the ING Savings Maximiser, which requires monthly growth. Hope this helps!

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

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

Competitive interest rates

$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?

Compare other products from ING

Sources

Sources

Your reviews

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