ING Savings Maximiser vs Macquarie Savings Account
Rates and conditions verified 14 June 2026
Rates can change without notice. Last verified: 14 June 2026 (AEST). Please confirm details on the bank’s official page.
A classic conditional bonus saver against a no-strings high-rate account. ING pays more if you jump through monthly hoops; Macquarie keeps it simple. Which model wins for you?
At a glance
| ING Savings Maximiser | Macquarie Savings Account | |
|---|---|---|
| Maximum rate (p.a.) | 5.50% | 5.35% |
| Ongoing / base rate (p.a.) | 0.01% | 5.00% |
| Condition to earn it | Deposit $1,000+ and make 5+ card purchases each month | None — welcome rate for 4 months, then ongoing variable rate |
ING Savings Maximiser
Condition: Deposit $1,000+ and make 5+ card purchases each month
Best for: active everyday bankers who'll reliably meet the deposit and card-spend conditions every month
- • Ongoing bonus rate (not an intro teaser)
- • Best value if you never miss a month
- • Drops to a near-zero base rate if conditions aren't met
Macquarie Savings Account
Condition: None — welcome rate for 4 months, then ongoing variable rate
Best for: savers who'd rather a strong rate with no monthly admin than chase a slightly higher conditional rate
- • Zero monthly conditions
- • Healthy ongoing base rate even after the welcome period
- • No risk of dropping to a punitive base rate
The verdict
This is really a question of effort versus certainty. ING can pay the higher rate, but only in months you deposit $1,000+ and make five card purchases — miss the conditions and the rate collapses to its base. Macquarie asks nothing and still pays a competitive ongoing rate. If you're a disciplined everyday banker, ING rewards that. If you'd rather not think about it — or your spending is irregular — Macquarie's no-strings rate is the safer earner. The table below shows both the bonus and base rates so you can see the downside of a missed month.
FAQs
Is ING's higher rate worth the conditions?
Only if you'll meet them consistently. ING's bonus rate beats Macquarie's ongoing rate in months you qualify, but in any month you miss the $1,000 deposit or five card purchases you fall to ING's base rate, which is far lower than Macquarie's no-condition rate.
Does Macquarie's rate drop after four months?
The welcome rate applies for the first four months; after that you earn Macquarie's ongoing variable rate. That ongoing rate is still one of the stronger no-condition rates, which is why Macquarie suits savers who don't want to chase bonus conditions.
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Information verified 14 June 2026. Rates are variable and subject to change. Confirm current rates and conditions on each provider's website before applying. This is not financial advice.