ING retires popular Savings Maximiser account: What you need to know
Key takeaways
- ING is closing its popular Savings Maximiser account to new customers from 1 December 2026.
- Existing customers can keep their accounts and continue earning interest under the existing terms.
- ING's new-ish Savings Booster account offers an alternative with a simpler bonus-interest requirement.
What changes are coming to ING's savings accounts?
From 1 December 2026, new customers will no longer be able to open an ING Savings Maximiser account.
Existing accounts will remain open and current customers can continue using their accounts beyond December.
Also, existing Savings Maximiser customers must continue meeting the account's monthly eligibility requirements to earn bonus interest.
Should you switch savings accounts?
Existing Savings Maximiser customers don't need to switch simply because ING is closing the account to new applicants. You can continue using your account for the foreseeable future.
That said, it may be worth comparing their Savings Maximiser with their Savings Booster and other high interest savings accounts to see which offers the best return.
Following the recent RBA rate rise, there are many savings accounts offering high returns, including savings interest rates above 6%.
But around 70% of bonus interest savings account in Australia don't regularly receive their bonus interest, because the account holder doesn't meet the conditions!
What about ING's new Savings Booster account?
This account could be worth a second look, as it offers high rates and an extra bonus rate for 4 months for new customers, with far fewer conditions to meet.
- ING Savings Booster: Launched in July 2026, ING's newer account currently offers an extra bonus for 4-months for new customers.
- Simple bonus-interest conditions: ING's Savings Booster requires customers to increase their balance by at least $100 each month to qualify for bonus interest.
- Easy to achieve: These can be much simpler to meet than the complicated bonus-interest with the Savings Maximiser, which include depositing $1,000 a month, making 5 or more Visa debit card purchases a month, and growing your balance each month (excluding interest).
Whether you're an existing ING customer or not...
Make sure your money is working for you:
- compare the intro and ongoing interest rates
- look at balance limits – some accounts drop sharply over $100k
- review recent statements to make sure you're getting paid your bonus each month – you could be amongst the 70% who miss out!
- check the bonus-interest conditions (the highest advertised rate may come with requirements that don't suit you)
Ready for higher returns? We're tracking every bank raising savings rates in October 2026
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