How many ING accounts can you have?
You can open multiple ING Savings Maximiser accounts. But there are rules around the interest rate you can earn.
08 Aug 2024
You can open multiple ING Savings Maximiser accounts. But there are rules around the interest rate you can earn.
How many ING Savings Maximiser accounts can I have?
You can have up to nine ING Savings Maximiser accounts. This could be helpful if you are saving money for different goals, an emergency fund, a home deposit or a holiday. But you can only earn bonus interest on one account. That means you will only earn the standard variable rate, which is currently only 0.55%, on any additional Savings Maximiser accounts you have.
ING notes that you can nominate which Savings Maximiser account will receive the bonus interest rate, so you may want to choose the account that has the most savings. If you don’t choose an account, ING says it will nominate an account at its discretion.
Alternatively, you could stick with the one account and track your different savings goals separately. or consider opening an additional high interest savings account with a different bank.
How do I get the maximum interest rate?
You can currently earn the highest rate on ING’s Savings Maximiser by:
- depositing at least $1,000 from an external source to any eligible personal ING account in your name each month.
- making five or more settled eligible ING card purchases
- growing your nominated Savings Maximiser balance (excluding interest earned).
The bonus rate is only paid on one account for balances up to $100,000. You will need to have a linked ING Orange Everyday account.
What other savings accounts does ING offer?
ING also offers a Savings Accelerator account, which pays higher interest rates for customers with higher account balances. Unlike the Savings Maximiser, customers do not have to meet any conditions to earn interest.
How many ING Orange Everyday accounts can I have?
You can have up to two ING Orange Everyday accounts. This could be helpful if you want a one joint account with your partner and a second account just for you, or if you have one account for bills and direct debits only and another for your day-to-day spending.
You can compare ING everyday and savings accounts on Canstar’s comparison table database.
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