ING Savings Maximiser Review: Is It Still Worth It?

The ING Savings Maximiser remains one of Australia’s most competitive high-interest savings accounts in 2026, offering a bonus rate of up to 5.00% p.a. when you meet a set of monthly conditions. If you’re already using — or willing to use — ING’s Orange Everyday as your main transaction account, the Savings Maximiser is genuinely hard to beat at this rate tier. If you’re not, those conditions add real friction that not every saver wants to deal with.

General information only. This article does not constitute financial advice. Consider your own circumstances before making decisions about savings accounts.

How the ING Savings Maximiser Actually Works

The base rate on the Savings Maximiser is modest — around 0.55% p.a. — but that’s not the point. The bonus rate kicks in when you meet all three conditions within a calendar month:

1. Deposit at least $1,000 into your linked ING Orange Everyday account
2. Make at least 5 eligible card purchases using your Orange Everyday card (tap-and-go, online, in-store — most everyday spending counts)
3. Grow your Savings Maximiser balance by any amount compared to the start of the month

That third condition is the one that trips people up. You can’t draw down your savings and still earn the bonus rate, even if you’ve met the first two. Practically, this makes it a genuine savings vehicle — you’re rewarded for actually saving, not just parking money temporarily.

What Rate Can You Actually Earn?

As of mid-2026, ING’s Savings Maximiser bonus rate sits at 5.00% p.a. on balances up to $100,000. Beyond that threshold, any excess earns only the base rate. For a saver with $50,000 in the account, that’s $2,500 in annual interest before tax — meaningful money that adds up fast.

ING has historically passed on RBA rate changes relatively promptly. After a series of cuts through late 2025 and early 2026, the bonus rate trimmed from its peak of around 5.50% p.a. but has remained consistently among the top three offers in the Australian savings market. Always check ING’s website directly for the current rate before opening, as it can shift within days of an RBA announcement.

Fees, Features, and the App Experience

There are no monthly account fees on the Savings Maximiser itself, and no minimum balance requirement. The linked Orange Everyday account is also fee-free, provided you deposit at least $1,000 per month — the same condition needed to unlock the bonus savings rate anyway, so it’s one action that achieves two things.

Orange Everyday holders also get ATM fee rebates at any Australian ATM. ING refunds the operator charge when you make 5 or more card purchases in the prior month — a genuinely useful perk for anyone who occasionally needs cash. It’s the sort of small feature that adds real value without fanfare.

ING has no physical branch network, so you’ll need to manage your money through the app or website. That’s not unusual in 2026, and the ING app holds a steady 4.5-star rating on both the App Store and Google Play, with a clean interface and a reasonably quick onboarding process.

How It Compares to Rivals

ING’s main competitors at the top of the savings market in mid-2026 include Ubank’s High Interest Save account and Macquarie’s Savings Account, both offering rates in the 4.90–5.10% p.a. range with slightly different condition structures. Ubank’s conditions are arguably simpler (just deposit $200 per month and make 5 purchases), while Macquarie imposes no conditions at all but sits at a marginally lower rate.

What keeps ING competitive is the overall package: strong rate, no fees, a functional everyday account, and ATM rebates. The balance-growth condition is stricter than some rivals, but for disciplined savers it enforces exactly the behaviour they’re aiming for anyway.

Who Should Open a Savings Maximiser?

The ING Savings Maximiser works best for:

• Consistent monthly savers who regularly add to their balance
• People who want to consolidate everyday and savings banking with one provider
• Anyone comfortable running their primary spending through ING’s Orange Everyday card

It’s less ideal for someone who needs flexible, frequent access to their savings balance, or for high-net-worth savers with more than $100,000 to deposit (the bonus rate caps at that figure).

Frequently Asked Questions

What happens if I don’t meet the conditions in a given month?

If you miss any of the three conditions, your Savings Maximiser earns the base rate (around 0.55% p.a.) for that calendar month. There’s no penalty or lockout — you simply miss the bonus rate for that month and can qualify again the following month by meeting the conditions fresh.

Can I open more than one Savings Maximiser account?

ING allows you to open multiple Savings Maximiser accounts, which is useful for separating savings goals — e.g. one for a home deposit, one for a holiday fund. The bonus rate applies across accounts when conditions are met, but the $100,000 bonus-eligible balance cap is shared across all your Savings Maximiser accounts combined.

Is my money safe with ING Australia?

Yes. ING Bank (Australia) Limited is an authorised deposit-taking institution (ADI) regulated by APRA. Deposits are protected under the Australian Government’s Financial Claims Scheme up to $250,000 per account holder — the same guarantee that applies to the Big Four banks.