ING Savings Maximiser Review (2026)
Rates and conditions verified 17 May 2026
Rates can change without notice. Last verified: 17 May 2026 (AEST). Please confirm details on the bank’s official page.
Bonus rate
5.50%
p.a. when conditions met
Base rate
0.01%
p.a. if conditions missed
Monthly conditions
2
deposit + card purchases
How the ING Savings Maximiser Works
The ING Savings Maximiser is one of Australia's most recognised high-interest savings accounts. It pays a strong bonus rate of 5.50% p.a. — but only when you meet two conditions each calendar month. Miss the conditions and the rate drops sharply to 0.01% p.a.
The account must be held alongside an ING Orange Everyday transaction account. You cannot open a Savings Maximiser without one.
Current Interest Rates
| Rate type | Rate | Condition |
|---|---|---|
| Bonus rate | 5.50% p.a. | Meet both monthly conditions |
| Base rate | 0.01% p.a. | Conditions not met |
Rates as at 17 May 2026. Variable — check ING's website for the latest.
The Monthly Conditions — Explained
To earn 5.50% p.a. in a given month, in the previous calendar month you must:
Condition 1 — Deposit $1,000+
Deposit at least $1,000 from an external bank account into any personal ING account (Savings Maximiser or Orange Everyday). This can be your salary, a transfer from another bank — any incoming external deposit.
Condition 2 — 5 card purchases
Make at least 5 eligible purchases using your ING Orange Everyday debit card. Tap-and-go, in-store, and online purchases count. ATM withdrawals and BPAY do not.
Both conditions must be met in the previous calendar month for the bonus to apply the following month. Miss one condition and the entire bonus is lost for that month.
Pros and Cons
Pros
- ✓ Strong 5.50% p.a. bonus rate
- ✓ No account keeping fees
- ✓ No balance cap on the bonus rate
- ✓ $1,000 deposit is a low bar for most salary earners
- ✓ Orange Everyday also has no ATM fees (including overseas)
- ✓ Government deposit guarantee up to $250,000
Cons
- ✗ Requires an Orange Everyday account
- ✗ Two conditions to track each month
- ✗ Base rate of 0.01% is extremely low — missing conditions is costly
- ✗ Card purchases must be on the ING card — can't use another card
- ✗ Conditions based on prior month activity — easy to miss if you're new
Who Is It Best For?
The ING Savings Maximiser suits people who are happy to route their salary through ING and use an ING card for everyday spending. If your pay comes into an ING account and you tap your ING card at the supermarket five times a month, you'll earn the bonus rate almost on autopilot.
It's less suited to people who prefer to keep their transaction account elsewhere, or who find monthly conditions stressful to track. The penalty for missing — dropping to 0.01% — is severe compared to competitors like Rabobank (which pays 4.00% with no conditions at all).
How It Compares
- Rabobank HISA: 5.90% intro (4 months), 4.00% ongoing — no conditions
- ubank Save: 5.85% intro, 5.10% ongoing — grow balance each month
- ING Savings Maximiser: 5.50% — deposit $1,000 + 5 card purchases
- Macquarie: 5.10% intro (4 months), 4.75% ongoing — no conditions
FAQs
What are the conditions to earn the bonus rate?
Deposit $1,000+ from an external bank and make 5+ eligible card purchases on your Orange Everyday card in the previous calendar month.
What rate do I get if I miss a condition?
0.01% p.a. for that month. Both conditions must be met to earn the 5.50% p.a. bonus rate.
Do I need an Orange Everyday account?
Yes. An ING Orange Everyday transaction account is required to open a Savings Maximiser and to complete the card purchases condition.
Information is general in nature and may change without notice. Rates verified 17 May 2026. Confirm current rates and conditions on ING's website before applying. This is not financial advice.