This increase sees ING reclaim top-spot from Bank of Queensland in the savings account pecking order according to Savings.com.au market research. 

ING previously lifted its Savings Maximiser rate to 4.05% p.a. last month off the back of RBA's October increase.

New and existing ING customers are eligible for the new rate of 4.30% p.a. for balances up to $100,000 from 8 November 2022.

ING's new Savings Maximiser rate beats out other popular savings account options such as the 3.85% p.a. on offer from ubank which will take effect from 1 December 2022.

@savings.com.au From Tuesday November 8, ING will lift its popular Savings Maximiser account to a market-leading 4.30% p.a! 💰 For all the latest savings account news, head to savings.com.au #fintok #fintokaustralia #ausfinance #savings #savingsaccount #ing #moneytok #banking #money #moneynews #bankingnews ♬ original sound - Savings.com.au

ING 4.30% p.a. Savings Maximiser eligibility criteria

To receive ING’s rate of 4.30% p.a. customers must:

  • Deposit at least $1,000 from an external source.
  • Make five or more settled card purchases.
  • Grow the balance on the nominated Savings Maximiser account by making sure the balance of the account is greater at the end of the month than the month prior.

See more: Which banks are increasing savings rates following November's cash rate rise?

Advertisement

Need somewhere to store cash and earn interest? The table below features savings accounts with some of the highest interest rates on the market.

Rates
Features
Conditions
Other
Provider
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance

High Interest Savings Account (< $250k)

  • Bonus rate for the first 4 months from account opening
  • No account keeping fees
  • No minimum balance
More details
4000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties

Savings Account (Amounts < $250k)

  • A high-interest online savings account with no monthly fees, easy withdrawals and award-winning digital banking
  • No withdrawal notice periods or interest rate penalties
More details
010000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
  • Earn up to 5.40% pa by depositing $1,000 in the previous month
  • No account fees
  • Easy access to your money

Saver Account (<$250k)

  • Earn up to 5.40% pa by depositing $1,000 in the previous month
  • No account fees
  • Easy access to your money
More details
02000$product[$field["value"]]$product[$field["value"]]$product[$field["value"]]More details
No monthly fees
  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
No monthly fees

Save Account

  • Download the App to open your account
  • Get better visibility of your spending within App!
  • Deposit $200 per month to activate bonus interest
More details
Important Information and Comparison Rate Warning

All products with a link to a product provider’s website have a commercial marketing relationship between us and these providers. These products may appear prominently and first within the search tables regardless of their attributes and may include products marked as promoted, featured or sponsored. The link to a product provider’s website will allow you to get more information or apply for the product. By de-selecting “Show online partners only” additional non-commercialised products may be displayed and re-sorted at the top of the table. For more information on how we’ve selected these “Sponsored”, “Featured” and “Promoted” products, the products we compare, how we make money, and other important information about our service, please click here. Rates correct as of April 29, 2024. View disclaimer.

Image by Saifuddin Ratlamwala via Pexels