9.9

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Interest rate 6 months interest rate: Up to 4.35% p.a.
Minimum opening deposit: $10,000
Account keeping fee: $0

Summary

Pay no fees and enjoy guaranteed returns on your balance with ING.

The ING Term Deposit Account allows you to invest your money for a period of time that suits you, ranging from 90 days to two years, and earn a fixed, competitive interest rate. You will need a minimum initial deposit of $10,000 for this account.

Pros

Terms from 90 days to two years
Competitive interest rates across all terms
Pay no fees on your term deposit
A safe way to invest for predictable returns

Cons

Minimum deposit of $10,000.
Must give 31 days notice to access your funds.

Details

Key details

Product Name	ING Term Deposit
3 month interest rate	4.15%
4 month interest rate	4.15%
6 month interest rate	4.35%
7 month interest rate	4.00%
9 month interest rate	4.00%
12 month interest rate	4.20%
24 month interest rate	3.90%
Minimum Opening Deposit	$10,000
Minimum age requirement	18
Government guarantee	Yes

Eligibility

Minimum Age Requirement	18
Joint account availability	Yes
Min Deposit	$10,000
Available to children	Not available for children

Key features

$0 account keeping fees

You don't have to pay any application or account keeping fees to open and maintain an ING Term Deposit.

Competitive interest rates

Your interest rate depends on your chosen term deposit duration. If you deposit at least $10,000 for just 12 months, you'll receive a competitive 4.2% p.a..

Terms from 90 days to two years

Choose to lock away your money for as little or as long as you'd like, from 90 days to two years and several options in between.

Deposit additional funds upon renewal

You cannot make deposits during the account's term, but can add funds when rolling over the account at renewal time to get more out of your investment in the next term.

Link any Australian bank account

Link an existing ING or external bank account to your term deposit for quick and easy transfers and payouts.

Multiple options at maturity

When your term reaches maturity you can renew the term deposit in its entirety along with the principal and interest, renew just the principal amount and keep the interest, or you can close the account entirely and withdraw everything to your nominated Australian bank account. The choice is yours!

31 days notice to access funds before maturity

If you need the funds early, you can access the funds in your term deposit before the term comes to an end. To do this you have to give ING at least 31 days notice, although in the case of hardship ING can make an exception.

Launch term deposit calculator

Congratulations, ING!

The ING Term Deposit was highly commended for Best Term Deposit (12 Months) in the 2025 Finder Awards.

Full list of 2025 winners

How to apply

Applying for an ING term deposit is easy and can be done entirely online. This account is for personal customers only, no business or SMSF customers.

Eligibility

Minimum age. You're at least 18 years old
Residency requirements. You're an Australian resident for taxation purposes

Depository requirements. You have to open a term deposit of at least $10,000

Documentation needed

To open an ING term deposit account you need:

Personal details. These include your name, date of birth, residential address, email address, phone number, and tax file number
Identification documents. ING uses these to verify your identify, and you can provide your Australian driver's license, passport, Medicare card, and so on
Linked account. Provide details of an ING or external bank account you want linked to your term deposit

What happens after I submit my application?

After you apply to open a term deposit account, ING confirms the information you have provided. After this, it requests the opening funds from your chosen linked bank account. Once these have been transferred over, your account is open and earning interest.

You will then receive a starter pack in the mail with details of your new term deposit.

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 term deposit
2. ING term deposit TMD

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Richard Finder

Senior Money Editor

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Janet

November 05, 2025

Can I request the interest on maturity be paid into my St George bank?

Sarah Megginson Finder

November 06, 2025

Hi Janet,

No, the interest is paid on maturity automatically to your ING account, but you can do an instant bank transfer on the day it is credited.

John

October 29, 2025

Can i open an account in my self managed superannuation fund

Sarah Megginson Finder

October 30, 2025

Hi John,

Yes, but ING has different products for SMSF. You can review the options here.

Steven

January 16, 2024

At the end of a 12 month term, what is the difference in capital amount if $200k is invested in a term deposit at 5.3% with interest paid at maturity compared with interest paid monthly?

Richard Whitten Finder

January 23, 2024

Hi Steven,

You can use a term deposit calculator to work this out. I tried and found there was no difference between the 2 options. You can ask ING about this for more details.

Carly

December 18, 2023

If I open up an ING term deposit do I need to make regular deposits into the acc to earn interest? I am looking at putting around 150k- 200k for 6-12mths

Jason Loewenthal Finder

January 08, 2024

Hi Carly,

ING term deposits require a minimum deposit of $10,000 and you can choose how long the term is. You don’t make regular deposits after the initial deposit.

I hope that helps.

Nicole Clape

November 29, 2023

If I’m currently not a ING account holder but wish to open a ING term deposit account locked in for 12 months. Do I need to open any other accounts with ING ?

Angus Kidman Finder

December 03, 2023

No, you don’t need to have any other accounts to set up the term deposit with ING.

Richard Whitten is Finder’s Senior Money Editor, with over eight years of experience in home loans, property, credit cards and personal finance. His insights appear in top media outlets like Yahoo Finance, Money Magazine, and the Herald Sun, and he frequently offers expert commentary on television and radio, helping Australians navigate mortgages and property ownership. Richard started his career in education and textbook publishing in South Korea. He holds multiple industry certifications, including a Certificate IV in Mortgage Broking (RG 206) and Tier 1 and Tier 2 certifications (RG 146), as well as a Bachelor of Education from the University of Sydney and a Graduate Certificate in Communications from Deakin University. See full profile

ING term deposit

Pros

Cons

Key features

$0 account keeping fees

Competitive interest rates

Terms from 90 days to two years

Deposit additional funds upon renewal

Link any Australian bank account

Multiple options at maturity

31 days notice to access funds before maturity

Congratulations, ING!

How to apply

Eligibility

Documentation needed

What happens after I submit my application?

Compare other products from ING

Sources

Sources

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