Ing Direct Savings Rate Guide to Maximum Savings

The key to maximum savings lies in understanding the ins and outs of your savings rate. A higher savings rate can help you reach your financial goals faster, but it's essential to know how to make the most of it.

The Ing Direct savings rate is a great option for those looking to boost their savings. With a competitive interest rate of 1.25%, you can earn more interest on your savings.

To maximize your savings, it's crucial to take advantage of compound interest. Ing Direct's interest is compounded daily, which means you'll earn interest on both your principal and any accrued interest. This can lead to significant gains over time, making it a great way to grow your savings.

By being mindful of your savings rate and taking advantage of compound interest, you can make the most of your Ing Direct savings account and reach your financial goals.

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The Ing Direct Savings Account is a great option for those looking to save money. It offers a variable interest rate of % p.a. every month for balances up to $100,000.

With this account, you won't have to worry about any fees eating into your savings, as there are zero ING fees.

You can also link your Savings Maximiser balance to your Orange Everyday account and enable Everyday Round Up to boost your savings. This feature allows you to transfer cash online, over the phone, or via mobile for instant access.

The Australian Government guarantees combined savings balances up to $250,000 per customer, providing an added layer of security for your savings.

To get started with ING's savings rate, you'll need to meet their eligibility criteria.

First, you'll need to deposit at least $1,000 from an external source. This sets the stage for earning the 5.25% p.a. rate.

Next, make sure to make five or more settled card purchases each month. This helps ING determine that you're actively using your card.

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To keep earning the bonus rate, you'll also need to grow the balance on your nominated Savings Maximiser account by making sure the balance is greater at the end of the month than the month prior.

If you fail to meet these criteria in a given month, you'll earn the base rate of 0.55% p.a. instead.

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Setting clear goals is a great way to start saving, and one of the most important things to consider is your direct savings rate. Having a budget in place helps you track your expenses and identify areas where you can cut back. Planning is key to achieving your financial goals.

Setting aside a small amount regularly can add up over time. For example, if you save just $10 per week, that's $520 per year. Emergency savings funds are essential for covering unexpected expenses.

Start by setting aside a small amount each month, like 10% of your income. Four tips for starting an emergency savings fund include setting a goal, tracking your expenses, automating your savings, and avoiding dipping into your fund for non-essential purchases.

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