Maximum Variable Rate


Standard Variable Rate


ING can help you invest your DIY cash with a bonus rate for an introductory period.

  • Variable, introductory rate of 2.00% p.a. for 6 months (conditions apply)
  • Earn a competitive interest rate for your SMSF Cash
  • $0 Account keeping fees
  • No minimum balance

Product details

The SMSF Cash account from ING offers a competitive interest rate on the extra cash from your DIY super. Linked to your ING Business Optimiser Account, you can move your money to the investments that you find give you the best returns. You don’t have to worry with paying fees, meeting terms, or even maintaining a certain balance.


Get up to 2.00% for the first 6 months. Available for new customers, for balances up to $1,000,000.

Product Name
Maximum Variable Rate
2.00% p.a.
Standard Variable Rate
1.00% p.a.
Bonus Variable Rate
1.00% p.a.
Monthly Fee
Minimum Opening Deposit
Introductory Interest Period
6 month(s)
Internet Banking
Internet Transaction Fee
Phone Banking
Maximum Deposit
Joint application?
Minimum Age Requirement
Maximum Age Requirement
No Maximum Age
Covered by Government Guarantee?
Yes (Up to $250,000 per person, per institution)

What are the features of the ING SMSF Cash account?

Australians who are planning their financial future with a DIY Super Fund have a lot to think about when choosing the suite of accounts to hold their funds. If you're looking for the security of a savings account to link to your working account that has a competitive interest rate and no monthly account-keeping fees, the ING SMSF Cash may be the account for you.

$0 Monthly fees

ING will not deduct any monthly fees from your savings.

Introductory, variable bonus rate of 2.00% for the first 6 months

Available for new customers, for balances up to $1,000,000.

How is my interest rate calculated?

The balance in your account is boosted by a variable competitive interest rate.

ING Business Optimiser

SMSF Cash uses ING Business Optimiser account as the hub for the cash component of your SMSF. This allows for up to four people to access the account using mobile, online or phone banking.

Can link to an external Australia business transaction account

You must nominate an outside bank account that is also a business account in the same name with another Australian financial institution. This linked account must have a BSB and account number. Compare other ING products.

No minimum balance required

There is no minimum balance requirement for this account.

Direct credit available

You are permitted to set up direct credits into the account from your nominated account.

How do I access my account?

You can make deposits and withdrawals through your linked account using internet or phone banking at any time. You are also permitted to make a deposit using a cheque.

Launch savings calculator


  • SMSF compatible
  • Balances up to $1000000
  • $0 minimum balance
  • $0 ongoing fees


  • Interest rate drops sharply after the introductory period

How do I apply for the ING DIY Super Cash account?

You will be applying for the Business Optimiser Account if you want ING to help you manage your excess DIY Super Cash.

Confirm that you meet the eligibility requirements

  • Minimum age. The minimum age required for this account is 18 years old.
  • Residency requirements. You must be an Australian resident for tax purposes, and your business must be registered within Australian.
  • Depository requirements. There is no minimum deposit required in order to open this account.

Documentation for your online application

When applying for this account online it would also be helpful if you were to have the following documentation readily available. This will enable you to fill out the application quickly and with accuracy:

  • Tax file number. With your tax file number (TFN) or exemption code entered, ING will be able to withhold the correct tax amount from your interest earnings.
  • Identification. ING will make every effort to verify your identity electronically using information from your driver’s licence, passport or Medicare card.
  • Linked account information. You will also need to be able to provide an account number for a business account held by an Australian financial institution. This will serve as the account you use to make transfers of your DIY super funds.

What happens after I submit the application?

Once ING has received your application and confirmed the details, they will issue you a Business Optimiser account. You can then begin transferring the cash portion of your SMSF into the account in order to start earning an interest income.

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6 Responses

  1. Default Gravatar
    KenApril 5, 2019

    My name is Ken and I am 75 yrs old and have started back to work on a part time basis and am earning $650 per week nett and a part aged pension. My employer is also deducting tax and is going to pay me super, my question is what sort of fund would you recommend and how can I open it to provide their Accountant with a fund account number.

    • Avatarfinder Customer Care
      NikkiApril 6, 2019Staff

      Hi Ken,

      Thanks for reaching out to Finder! While our pages provide options for your SMSF needs – as a product comparison website, we are not in the positions to recommend one product for you but let our pages help you in that path!

      As it says on our page — When choosing a retirement or SMSF account you will want to compare these features to make sure you are getting the best benefits for your money:

      1. Monthly fees. The amount, if any, of monthly fees for your account could make a difference in your savings potential.
      2. Interest rates. These types of accounts sometimes act as a hub for your SMSF, allowing it to earn interest while the money is in between other investments.
      3. Accessibility. While retirement accounts usually work similarly to a cash management account, you could find that there are limits to the number of free transactions you can make each month.
      4. Types of access. Look to see if there is a linked debit card, cheque writing facility, and online banking options in order to access your money.

      You can compare SMSF funds and retirement accounts on this page.

      Hope this was helpful. Don’t hesitate to message us back if you have more questions.


  2. Default Gravatar
    SuzJune 14, 2016

    Is this product better than 6 month term?

    • Avatarfinder Customer Care
      MayJune 16, 2016Staff

      Hi Suz,

      Thanks for your inquiry.

      Actually, that depends on your financial goals and future financial plans, when you open ING DIRECT DIY Super Cash, you will earn a maximum variable interest rate of 3.75% p.a. for the first six months, which applies to balances of less than $1 million. After the introductory interest bonus period of months, your account will revert and earn a standard rate of 2.75%.

      This account also allows you to make deposits and withdrawals through your linked account at any time.

      I hope this has helped.


  3. Default Gravatar
    TraceyApril 21, 2016

    I want to set up a ING Cash account for my SMSF I understand that I set up a Business Optimiser account (In the name of the SMSF) and receive 3% fixed for 6 months is this correct?
    Thank you

    • Avatarfinder Customer Care
      ShirleyApril 22, 2016Staff

      Hi Tracey,

      Thanks for your question.

      You can open a ING Direct Living Super term deposit option without a business optimiser. At the time of writing, the rate is 3.10% for 6 months.

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