ING Savings Accounts

ING is a provider of savings accounts, as well as other banking solutions such as insurance, loans, term deposits and more.

Compare ING savings accounts

Considering a savings account from ING? The table below displays a snapshot of ING savings accounts on Canstar’s database, sorted by Star Rating. These results are based on a regular saver profile in NSW with $10,000 in current savings.

To see the definition of a regular saver and other profiles used in Canstar’s Star Ratings, view Canstar’s savings account methodology here. Or you can search our database for a savings account to suit your needs.

Compare Savings Accounts

What savings accounts does ING offer?

ING offers the following savings accounts at the time of writing:

Savings Maximiser Account

A high variable interest rate with no fees or penalties on withdrawals.

Savings Accelerator

A tiered savings account with a higher interest rate for higher amounts.

You can view the current interest rates on ING savings accounts in our comparison tables.

Do ING savings accounts require a linked transaction account?

According to ING, in order to earn the maximum interest rate, Savings Maximiser Account holders must have a linked Orange Everyday bank account, deposit $1,000 or more into that account each month and make 5+ card purchases that are settled (not pending) each month.

Savings Accelerator account holders must nominate an eligible ING account or an external bank account to link to their savings account.

You can compare transaction accounts with Canstar here to potentially find one that suits your requirements.

Does ING charge fees on its savings accounts?

Savings accounts can come with several fees, such as monthly account-keeping fees, transaction fees, withdrawal fees and more. According to its website, ING does not charge fees on its Savings Maximiser or Savings Accelerator accounts at the time of writing (17/09/18).

For current information on fees and how they apply, please check the Product Disclosure Statement.

What does ING offer in terms of mobile banking for savings accounts?

ING offers both online and mobile banking for its savings products, with its app available in both the Apple and Google store. Notable features of ING’s mobile banking include:

  • Search through your transaction history using keywords
  • Report a lost or stolen Orange Everyday card
  •  Ask Siri ‘what’s my balance?’

How to apply for an ING savings account

Before applying for an ING savings account, consider comparing it against other savings accounts on the market to ensure it is the right one for you. You can then apply for an ING savings account online, provided you have the correct documentation:

  • At least one form of ID, such as your driver’s license or passport
  • Accurate personal information, such as your name, date of birth, address and phone number
  • A Tax File Number or exemption code (otherwise tax is deducted at the highest marginal rate)

Once your account is opened, ING may require you to transfer in a minimum amount before your account can be activated – check the PDS document for more information on how much you might need to deposit.

Related article: How to change bank accounts

Eligibility requirements

When applying for an ING savings account, you will also have to meet the following eligibility requirements:

  • You must be an account holder using the product for personal use
  • An Australian resident for tax purposes
  • Aged 13 years or over

What other banking products does ING provide?

ING provides a variety of different products to consumers, including:

  • Loans
  • Insurance
  • Credit Cards
  • Superannuation
  • International Banking

About ING

ING Direct was founded in 1999 as a subsidiary of the Dutch multinational bank, ING Group.

Today, ING Direct claims to have over 1.5 million customers and more than 475,000 home loans. As a direct bank, ING Direct has no branches, operating primarily via phone and online banking. It is headquartered in Sydney.

Written by: Maddie Clarey | Last updated: August 7, 2018