ING Savings Maximiser savings account

You can earn an ongoing bonus rate of 1.35% p.a. on your savings when you meet the account conditions.

Earn 1.35% p.a. when you link to an ING Orange Everyday account and meet the following criteria each month: deposit at least $1,000; make 5+ card purchases; and grow your Savings Maximiser balance (excluding interest earned). When you meet the deposit conditions, you can make withdrawals from the account and still be eligible for bonus interest. This makes the account a flexible savings account option if you want to access the money from time to time.

Plus, when you meet the bonus conditions, you'll also be able to earn 1% cashback on your utility bills when you pay using from your linked ING Orange Everyday account which is a great added perk.

1.35% p.a.

Maximum variable rate


Base interest rate


Minimum deposit

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Product NameING Savings Maximiser
Maximum Variable Rate1.35% p.a.
Standard Variable Rate0.05% p.a.
Monthly Account Fee$0
Minimum Opening Deposit$0
Minimum Age13

Review by

Alison Banney is the banking and investments editor at Finder. She has written about finance for more than 8 years with her work featured on sites including Yahoo Finance, Money Magazine and Dynamic Business.

Expert review

This savings account offers a bonus interest rate of 1.35% each month you meet the account conditions, which is one of the most competitive rates in the market. You need to link to an ING Orange Everyday account , deposit $1,000 a month into either account and make 5 or more Visa debit card purchases a month. You also need to grow your Savings Maximiser balance each month to earn bonus interest - this can be by any amount, but it excludes any interest you've earned.

The monthly deposit condition is higher than many other accounts, however you’re able to withdraw as much as you want from the account during the month while still being eligible for bonus interest. And if you meet the account conditions, you won’t pay any international transaction fees with your linked Orange Everyday account. This could save you a fair bit of money if you travel a lot or often shop online from overseas stores, and it’s a fairly unique benefit that isn’t offered by many transaction accounts.

The bonus interest rate is quite competitive however it’s only available on balances up to $100,000, so it may not be what you’re looking for if you’ve got a larger balance.

Key features

Standard variable interest rate of 0.05% p.a.

Your savings balance will have a variable interest rate of 0.05% p.a. applied to it each month.

Maximum variable interest rate of 1.35% p.a.

Earn a maximum variable bonus rate of 1.35% p.a. when you link to an ING Orange Everyday account and meet the following criteria each month: deposit at least $1,000; make 5+ card purchases; and grow your Savings Maximiser balance (excluding interest earned).

Limitations to the bonus interest rate

Bonus interest is only applicable to one savings account and for balances that do not exceed $100,000. It is a variable interest rate, so it can change at any time.

Calculating the interest earned

Interest is calculated daily and paid into the account once a month. If you qualify for the bonus rate one month, that interest is applied to the balance the following month. If you miss the bonus interest conditions for one month, you are still able to qualify again the following month.

Do I have to deposit my pay or can it come from an external account?

The $1,000+ deposit requirement doesn't have to come from your pay, but it sure makes it easier to get the bonus rate as you can 'set and forget'. However, if the salary option doesn't suit you, you can still transfer the funds from an external account.

$0 Account fees

There are no monthly maintenance fees associated with this account. In addition, you are not charged when you transfer money in and out of the account, no matter how many times you make transactions each month.

Online transfer options

You can make transfers in and out of your account online, over the phone or by using a mobile application.

Linked Australian bank account

It's recommended that you link this account with an ING Orange Everyday account so you can receive the bonus interest.

Additional terms

Customers may hold more than one Savings Maximiser account at a time, however you'll only be able to earn bonus interest on one. Compare all ING everyday and savings accounts here.

Can I deposit a cheque into this account?

You can deposit a cheque into this account via Bank@Post. Please note you can't deposit a cheque via another financial institution.

How to apply


If this is the savings account that will get help you meet your goals with ease, you can quickly apply online by clicking 'go to site'. Before you continue to the secure application page, check that you are able to meet the eligibility requirements set forth by ING:

  • Minimum age requirement. Applicants aged 13 or older will be considered for this account.
  • Residency requirement. You must be an Australian permanent resident or citizen with a residential address in Australia in order for ING to open a savings account in your name.
  • Savings account use requirement. This account is for personal use only. If you wish to find a similar savings account for business purposes look into the ING Business Optimiser account.

If you're applying online, it's a good idea to apply for the Orange Everyday account first, as you can then select an option to also open up a Savings Maximiser account. This will save you from processing two different applications.

Documentation needed

If you are able to meet these requirements, proceed to the application with the following documentation readily available:

  • Identification documents. In order to verify your identity, ING will need information from two separate forms of ID. This could be a driver's licence, passport, Medicare card or birth certificate. This will be used to verify your identity electronically. If ING is unable to accomplish this with the documentation you provide, you may be asked to verify your identity in person.
  • Account details. If you already have an account with ING, they will need the account number and your client number in order to link your savings with your everyday account.
  • Personal details. In addition to your name and date of birth, you will need to supply an Australian residential address and telephone number.
  • Tax File Number (TFN). Although not mandatory, if you do not supply the bank with your TFN, the highest marginal rate will prevail when tax is deducted.

What happens after I submit my application?

When the application is complete you can submit it to ING online. If they are able to verify your identity electronically your account will be opened instantly and you can begin depositing money to be saved.

What if I'm a non-resident or not eligible to apply online?

It's advised that you contact ING on the phone to proceed with your application. ING is an online bank and therefore, doesn't have any physical branches to visit.

Ask an expert

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    Default Gravatar
    January 3, 2022

    Is ING Government Guaranteed

      Avatarfinder Customer Care
      January 12, 2022

      Hi Frances,

      Yes, ING is covered under the Financial Claims Scheme. This means deposits of up to $250,000 are protected. You can find the complete list of covered banks on APRA’s website.


    Default Gravatar
    January 22, 2020

    What do you mean by “link the Maximiser to and everyday account. Can you give an example?

      Avatarfinder Customer Care
      January 22, 2020

      Hi Paul,

      Thank you for your question. It’s recommended that you link this account, ING Savings Maximiser, with an ING Orange Everyday Account so you can receive the bonus interest. Both accounts are from ING. Hope this helps.


    Default Gravatar
    October 17, 2019

    I can’t seem to use my card when withdrawing cash. I can’t remember my pin number, can you help?

      Default Gravatar
      October 19, 2019

      Hi Sue,

      Thanks for getting in touch. I’m sorry to hear you have forgotten your password.

      If this is your online password, please check for any retrieval command/s on the app and proceed with changing your password online. If this is for your Orange Everyday Debit Card, you’d need to contact ING directly to be assisted further.

      I wish I could help you further but since we are not working with ING, we won’t be able to access the password change process.

      Hope this helps and feel free to reach out to us again for further assistance.


    Default Gravatar
    July 23, 2019

    If I open a Savings Maximiser account today, would I receive my card before next Wednesday I fly out on Thursday. Secondly, would I pay NO overseas transaction fees using that card?

      Default Gravatar
      July 24, 2019

      Hi Rob,

      Thanks for your message and for your interest in ING Savings Maximiser savings account. Kindly note that this account is not connected with a physical card as this account needs to be connected with your Orange Everyday account. If you wish to proceed, you can open an account by clicking the ‘Go to Site’ buttons on this page. This will securely take you to the ING website to start an online application. When the application is complete you can submit it to ING online. If they are able to verify your identity electronically your account will be opened instantly and you can begin depositing money to be saved.

      As a friendly reminder, review the eligibility criteria, fees, interest rates, and terms & conditions of this account before applying. You may also contact the insurance provider should you have any questions about their policy.

      Hope this helps!


    Default Gravatar
    July 16, 2019

    What interest rate above $100,000?

      Default Gravatar
      July 17, 2019

      Hi Lou,

      Thank you for contacting Finder.

      For balances more than $100,000, the current Standard Variable Rate at that time will apply. As of now, the Standard Variable Rate is 0.50% p.a.

      I hope this helps.

      Please do not hesitate to reach out again to us if you have additional questions.


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