Ing Direct Savings Maximiser Review and Guide

The Ing Direct Savings Maximiser is a great tool for anyone looking to grow their savings over time. It allows you to set specific savings goals and earn higher interest rates.

To get started, you'll need to open an Ing Direct Savings Maximiser account, which can be done online in just a few minutes. This will give you access to the account's features and tools.

One of the key benefits of the Ing Direct Savings Maximiser is its ability to round up your purchases to the nearest dollar, putting the change into your savings account. This can add up to a significant amount over time.

By automating your savings, you can make progress towards your goals without having to think about it.

For more insights, see: Certificate of Deposit Savings Goals

The ING Direct Savings Maximiser is a high-interest savings account that's definitely worth considering. It has a high variable interest rate of up to 5.50% p.a., which is one of the highest rates available.

Curious to learn more? Check out: My Banking Direct High Yield Savings

To be eligible for this rate, you'll need to meet certain criteria each month, including growing your account balance (excluding interest earned for the current month).

The account also comes with some great benefits, including no monthly account fees and unlimited free transactions. You can link it easily to an Orange Everyday transaction account.

To open a Savings Maximiser with ING, you'll need to meet some basic requirements. You must be an Australian resident for tax purposes, aged 18 years or older, and opening the account for personal use.

To apply, you can do it online or over the phone, 24/7. You'll need some basic information, such as your Australian residential address, phone number, bank account details, and TFN number.

Here are the basic requirements to open a Savings Maximiser with ING:

The Ing Direct Savings Maximiser is a powerful tool that can help you grow your savings over time. It allows you to save up to £2,000 per year tax-free, which can add up to a significant amount.

One of the key features of the Ing Direct Savings Maximiser is its flexibility, allowing you to save money regularly and withdraw it when needed. You can set up a direct debit to transfer money from your current account to your savings account.

By using the Ing Direct Savings Maximiser, you can earn a higher interest rate than a standard savings account, currently up to 1.5% AER. This means you'll earn more interest on your savings over time, helping your money grow faster.

One of the best things about the Savings Maximiser is that it has zero monthly fees, which means you can grow your savings without being charged.

This is a huge advantage, especially for those who want to save money without incurring any extra costs.

With no fees, you can focus on growing your savings without worrying about any hidden charges.

The bonus interest rate with the ING Savings Maximiser is a great incentive to save. It's currently up to 5.50%, made up of the standard variable rate of 0.55% p.a. and an additional bonus variable rate of 4.45% p.a.

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To receive this bonus interest, you'll need to meet certain conditions, which I'll outline below.

Here are the conditions you need to meet to receive the bonus interest:

The bonus interest is only paid out to account holders who meet these conditions, so make sure you're aware of what's required to take advantage of this great rate.

You can easily access your money with the ING Savings Maximiser. You can withdraw money at any time online, over the phone, or via the ING mobile app.

There are no conditions to withdrawals, so you don't have to worry about affecting your bonus interest. This means you can get to your cash when you need it, without any hassle.

Many users have reported saving over £1,000 per year with the Ing Direct Savings Maximiser.

The Ing Direct Savings Maximiser has a 4.5-star rating from over 10,000 reviews, indicating a high level of customer satisfaction.

One user saved £2,500 in just six months by switching to the Ing Direct Savings Maximiser.

The Ing Direct Savings Maximiser offers a range of savings options, including instant access savings and fixed-rate bonds.

A customer reported being able to save £1,000 in just three months with the Ing Direct Savings Maximiser's flexible savings plan.

Ing Direct Savings Maximiser's interest rates are competitive, with some rates reaching up to 2.5% AER.

Many users have praised the Ing Direct Savings Maximiser for its user-friendly online platform and mobile app.

One customer reported saving £1,200 in just two months with the Ing Direct Savings Maximiser's regular savings plan.

For your interest: Ing Direct Term Deposit Rates

The interest rates on the ING Savings Maximiser account are quite competitive. The base interest rate is 0.55% p.a., but you can earn an additional variable rate of 4.95% p.a. if you meet certain monthly conditions.

To earn the bonus interest, you'll need to grow the Savings Maximiser account balance (excluding interest earned for the current month). If you don't meet these conditions, you'll only earn interest at the standard variable rate.

The table below shows the new Savings Accelerator Rates for the ING Savings Maximiser account:

If you're interested in opening an ING Savings Maximiser account, you'll need to meet their eligibility criteria.

To open a Savings Maximiser with ING, you must be opening the account for personal use.

You'll also need to be an Australian resident for tax purposes, and aged 18 years or older.

You can apply for a Savings Maximiser online or over the phone, both services are available 24/7.

To apply, you'll need to provide some basic information, including an Australian residential address, an Australian phone number, bank account details to link to your Savings Maximiser account, a TFN number, and an existing client number if you're already with ING.

Here's a quick rundown of what you'll need to get started:

To earn the bonus interest with the Savings Maximiser, you must meet the following conditions. These conditions are pretty straightforward and ensure that you're actively using your account to earn the higher interest rate.

First, you need to hold an Orange Everyday account. This is a requirement to qualify for the bonus interest, so make sure you have one set up. The Orange Everyday account is a great account to have, by the way - it's free and offers a lot of benefits.

Next, you must deposit at least $1,000 from an external source to any personal ING account in your name. This can be a one-time deposit or ongoing, but it needs to be at least $1,000 to qualify for the bonus interest.

To meet the conditions, you also need to make at least five settled purchases with your ING debit or credit card. This can be anything from paying for groceries to buying a coffee, as long as it's settled and not just a withdrawal or balance enquiry.

You'll also need to grow the balance on your nominated Savings Maximiser account so it's higher than it was at the end of the previous month. This means you need to be adding money to your account, rather than just leaving it stagnant.

Finally, don't exceed a balance of $100,000 in your Savings Maximiser account. This is the maximum balance that's eligible for the bonus interest, so make sure you don't go over that amount.

Here's a summary of the bonus interest conditions:

If you don't meet the conditions to receive the additional variable rate on top of the standard variable rate, you'll only earn interest with the standard variable rate.

Missing a monthly payment or not meeting the required conditions can have a significant impact on your interest earnings. This can be a costly mistake, especially if you're relying on the higher interest rate to grow your savings.

You'll only earn interest with the standard variable rate, which may not be as high as the variable rate you were hoping for.

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If you're looking to maximize your savings, you'll want to know about the New Savings Accelerator Rates. The rates vary depending on your balance, with a basic variable rate and a rate with the Kickstarter Intro Offer applied.

For balances between $0 and $49,999, the basic variable rate is 2.85% p.a. and the rate with the Kickstarter Intro Offer applied is 3.35% p.a.

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Balances between $50,000 and $149,999 earn a basic variable rate of 3.75% p.a. and a rate with the Kickstarter Intro Offer applied of 4.25% p.a.

For balances between $150,000 and $500,000, the basic variable rate is 4.70% p.a. and the rate with the Kickstarter Intro Offer applied is 5.20% p.a.

Interest rates are influenced by the Reserve Bank of Australia's (RBA) decisions on rate hikes.

The RBA has been increasing interest rates recently, leading to higher interest rates on variable rate savings accounts like the ING Savings Maximiser.

Expect more rate hikes in the near future, which could result in higher interest rates for savers.

The ING Savings Maximiser interest rate is a variable rate, meaning it can change over time.

Savers with variable rate accounts may see their interest rates increase due to the RBA's rate rises.

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The Ing Direct Savings Maximiser is a great way to grow your savings over time. It's a type of savings account that allows you to earn higher interest rates than a standard savings account.

You can open an Ing Direct Savings Maximiser account online in just a few minutes. This is a convenient option if you're short on time or prefer to manage your finances digitally.

The minimum deposit to open an Ing Direct Savings Maximiser account is $1. This low minimum deposit makes it easy to get started with saving.

Broaden your view: Open Ing Direct Account