ING Australia savings account and term deposit rates

ING Bank (Australia) Limited · Online bank

ING's best ongoing savings rate is 5.75% p.a. on Savings Maximiser, in months when you meet its bonus conditions. Its best term deposit pays 5.35% p.a. for 11 months on $10,000 or more.

Verified 2 Nov 2026

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Key facts

Top savings rate: 5.75% p.a.
Introductory rate: 6.25% p.a. for 4 months
Best term deposit: 5.35% p.a. for 11 months
Minimum term deposit: $10,000
Deposit protection: $250,000 per account holder
Credit cards: 2 cards from ING

What would your money earn at ING?

Type any amount and pick an account. Estimates are before tax and assume the rate stays the same.

Amount

Try

Account

Fixed for the term. From $10,000.

Interest over 12 months

$1,325

5.30% p.a., interest paid at maturity.

ING 12-month term deposit$1,325

Bank Australia Term Deposit, 5.60% p.a.$1,400

That is $75 less than the best 12-month term deposit in Australia would pay on the same amount.

See what your own balance actually earned

ING rates

Every rate is variable. Bonus rates show as the total you earn, with the base and bonus parts underneath.

Savings Maximiser

Bonus savings account

Closes to new applications on 1 Dec 2026

18 or older

5.75%p.a.

0.01% base + 5.74% bonus

To earn the bonus each month

For customers who also have an Orange Everyday bank account and do this each month: Make 5 or more settled (not pending) eligible ING card purchases
For customers who also have an Orange Everyday bank account and do this each month: Deposit at least $1,000 from an external source to an Orange Everyday, Savings Maximiser, Savings Accelerator, Personal Term Deposit, ING Personal Loan or I
For customers who also have an Orange Everyday bank account and do this each month: Grow their nominated Savings Maximiser balance (excluding interest earned for the current month).

Savings Booster

Bonus savings account

18 or older

6.25%p.a.

Intro rate for 4 months, then 5.65% p.a.

To earn the bonus each month

Grow your account balance by at least $100 this month (not including any interest earned).

Savings Accelerator

Savings account, no monthly conditions

18 or older

5.05%p.a.

No monthly conditions

A tiered savings account, with a variable interest rate.

Personal Term Deposits

Personal Term Deposits rates, interest paid at maturity
Term	$10,000 and over
3 months	5.05%
4 months	5.00%
6 monthsStand-out term	5.20%
7 months	5.00%
9 months	5.10%
11 monthsBest rate	5.35%
12 months	5.30%
2 years	5.25%

Interest paid at maturity. New term deposits start at $10,000.

Compare 12-month term deposits at every bank in Australia

How ING compares with other banks in Australia

Every bank we track in Australia, ranked by its best ongoing savings rate, with its 12-month term deposit. Verified 2 Nov 2026.

Savings and 12-month term deposit rates at every bank in Australia, 2 Nov 2026
#	Bank	Top savings rate	12-month term deposit
1	ING	5.75% p.a.Savings Maximiser, monthly conditions	5.30% p.a.Personal Term Deposits
2	St.George	5.40% p.a.Incentive Saver, monthly conditions	4.75% p.a.Term Deposit
3	Bank Australia	5.35% p.a.Bonus Saver, monthly conditions	5.60% p.a.Term Deposit
4	Teachers Mutual Bank	5.35% p.a.Momentum Saver, monthly conditions	5.35% p.a.Term Deposit
5	ANZ	5.35% p.a.ANZ Plus Growth Saver, monthly conditions	5.30% p.a.ANZ Advance Notice Term Deposit
6	Bankwest	5.35% p.a.Hero Saver, monthly conditions	5.30% p.a.Bankwest Term Deposit
7	Virgin Money	5.30% p.a.Virgin Money Boost Saver, monthly conditions	Not published
8	Macquarie	5.25% p.a.Macquarie Savings Account	5.40% p.a.Macquarie Term Deposit
9	CommBank	5.25% p.a.GoalSaver, monthly conditions	5.30% p.a.Standard Term Deposit
10	NAB	5.25% p.a.NAB Reward Saver, monthly conditions	5.30% p.a.NAB Term Deposit
11	Westpac	5.25% p.a.Westpac Life, monthly conditions	5.30% p.a.Term Deposit
12	BOQ	5.00% p.a.Simple Saver Account	5.40% p.a.myBOQ Term Deposit
13	Bendigo Bank	5.00% p.a.Bendigo Reward Saver, monthly conditions	4.90% p.a.Standard Term Deposit
14	Beyond Bank	4.90% p.a.Purple Bonus Saver, monthly conditions	4.90% p.a.Term Deposit

Who can open them, and how safe is the money?

Who can open each account

Savings Maximiser: 18 or older
Savings Booster: 18 or older
Savings Accelerator: 18 or older
Personal Term Deposits: 18 or older, from $10,000

Is my money protected?

The Australian Government's Financial Claims Scheme covers deposits at ING up to $250,000 per account holder.

Questions about ING savings and term deposits

What is ING's highest savings rate?

Savings Maximiser, at 5.75% p.a. on 2 Nov 2026: a 0.01% p.a. base rate plus a 5.74% p.a. bonus. For customers who also have an Orange Everyday bank account and do this each month: Make 5 or more settled (not pending) eligible ING card purchases A month that misses the conditions earns 0.01% p.a. Savings Maximiser closes to new applications on 1 Dec 2026.

What is the ING 12-month term deposit rate?

5.30% p.a. on new deposits of $10,000 or more, with interest paid at maturity.

Which ING term deposit term pays the most?

11 months, at 5.35% p.a. with interest paid at maturity, on 2 Nov 2026.

Does Savings Booster have an introductory rate?

Yes. Savings Booster earns 6.25% p.a. for the first 4 months, made up of the 5.65% p.a. ongoing rate plus a 0.60% p.a. introductory margin. After that it earns 5.65% p.a.

Is my money safe with ING?

Deposits at ING are covered by the Australian Government's Financial Claims Scheme up to $250,000 per account holder.

Where do these rates come from?

From the product details ING publishes under the Consumer Data Right, which Woodo checks every day. We last verified them on 2 Nov 2026. ING does not pay Woodo, and no payment can change the order of any list.

Community

ING savers will soon be able to report whether their bonus rate paid out each month, and ask other savers questions.

Cards issued by ING

Other banks in Australia

St.GeorgeSavings 5.40% p.a.12-month 4.75% p.a.
BankwestSavings 5.35% p.a.12-month 5.30% p.a.
Teachers Mutual BankSavings 5.35% p.a.12-month 5.35% p.a.
ANZSavings 5.35% p.a.12-month 5.30% p.a.
Bank AustraliaSavings 5.35% p.a.12-month 5.60% p.a.
Virgin MoneySavings 5.30% p.a.12-month Not published

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