How do I get the highest savings rate?

How to get the Savings Maximiser highest savings interest rate

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Here's how to earn it
How our highest available variable rate is applied
How to keep track of your eligibility
For ING App
For Online Banking
How settled card purchases are calculated

If you want to fast track your savings so you can get to your goals sooner, you could with Savings Maximiser’s highest available variable rate.

Here’s how to earn it

To earn our highest available variable rate you need both a Savings Maximiser and Orange Everyday account, then each month do all of these:

Deposit $1,000+ from an external bank account to any personal ING account in your name (excluding Living Super and Orange One).
Make 5+ settled (not pending) card purchases (excluding ATM withdrawals, balance enquiries, cash advances, BPAY transactions, direct debits using an account number, EFTPOS cash out-only transactions and any transaction that does not use a card number).
Grow the balance of your nominated Savings Maximiser in the same calendar month. This just means that the balance must be higher at the end of the month than it was at the end of the previous month. When we assess whether you’ve met this balance growth requirement interest earned in the current month, is not taken into account.

How our highest available variable rate is applied

Our highest available variable rate is applied in the calendar month after you’ve met the eligibility criteria.

So if you continue to meet the criteria each month, you’ll continue earning our highest rate every month on your nominated Savings Maximiser account for balances up to $100,000.

You’ll receive the standard variable rate on any amounts above this.

How to keep track of your eligibility

You can check your own eligibility status for the higher interest rate for the current and next month using the ING App or Online Banking.

ING App

Log in to your ING App
Select your nominated Savings Maximiser account
Select the INTEREST & MORE tab
Tap the right arrow for more info on your INTEREST ELIGIBILITY status

Note: Eligibility on the 1st of each month will show after midday.

Online Banking

Login to Online Banking using your client number (found on the back of your Orange Everyday card, a recent statement or in the ING App) and access code
Select your nominated Savings Maximiser account
Click the tooltip next to each status

How settled card purchases are calculated

The following card transactions count towards the 5 settled (not pending) card purchase minimum each month when made with Orange Everyday, Orange One Low Rate or Orange One Rewards Platinum and Nil Interest Visa card (with eligible ING home loans):

In-store credit or EFTPOS purchases
online purchases
regular card payments
payWave
Apple Pay
Google Pay
Direct Debits using a card number
PayPal transactions using a card number.

Card purchases exclude ATM withdrawals, balance enquiries, cash advances, BPAY transactions, direct debits using an account number, EFTPOS cash out-only transactions and any transaction that does not use a card number.

When using the phrase ‘settled’ card purchases in a calendar month, we mean that the purchases made on your card must be fully processed by the end of the last day of that month. Card purchases made in store or online this current calendar month which are at a ‘pending status’ and do not settle until the next calendar month do not count towards the 5 card purchases needed this current calendar month.

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What is a Client Number and an Account Number?

Your client number and account number are how we can give you fast yet secure access your ING accounts.

Savings Maximiser

The additional variable rate (that is added to the Savings Maximiser standard variable rate) applies on one nominated Savings Maximiser per customer for the next calendar month when you also hold an Orange Everyday account and in the current calendar month you do the following:

deposit at least $1,000 from an external source to any personal ING account in your name (excluding Living Super and Orange One);
also make at least 5 card purchases that are settled (and not at a ‘pending status’) using your ING debit or credit card (excluding ATM withdrawals, balance enquiries, cash advances and EFTPOS cash out only transactions); and
ensure that the balance of your nominated Savings Maximiser account at the end of the month (excluding interest) is higher than it was at the end of the previous month. When we assess whether you’ve met this balance growth requirement, we do not take into account any interest earned on your account in the month.

Each customer can nominate a maximum of one Savings Maximiser account (either single or joint) to receive the additional variable rate (where eligible). You can check and change your nominated Savings Maximiser account via online banking. If no nomination is made, the additional variable rate (where eligible) will be applied to an account nominated by ING at its sole discretion.

Any amounts above $100,000 are subject to the Savings Maximiser standard variable rate applicable at the time. If you do not satisfy the conditions to receive the additional variable rate, the standard variable rate applies. ING can change or withdraw the additional variable rate or the additional variable rate offer at any time with notice. The additional variable rate is not payable in conjunction with any other promotional rate.