published 4 Feb 2026
ING delivers a lift for savers with new interest rate increases
ING Australia announces it will increase interest rates across its Savings Maximiser and Savings Accelerator products to help customers boost their savings.
There will be a 0.25% per annum rate increase to the variable interest rate for eligible** new and existing Savings Maximiser customers. This will take the variable rate to 5.00%, effective from 10 February 2026.
New and existing Savings Accelerator customers will enjoy a savings rate increase of 0.40% p.a., 0.15% p.a. beyond the recent movement of the cash rate. New ING savings customers will enjoy a Kick Starter* rate of 5.40% p.a. for the first 4 months on balances over $150,000 (up to $500k), and ongoing rate to 4.35% p.a., effective from 10 February 2026.
Commenting on the changes, Jennifer Davies, ING Australia’s Head of Retail says:
“We know a lot of Aussies are working hard to stay on top of everyday expenses, so it’s great to be able to share some exciting news – we’re lifting the interest rates on our savings products beyond what the market was tipping. It’s one small way we can help your money work a bit harder for you.
“Higher interest rates also affect home loan repayments, and we have moved the rates of our residential mortgages. If any customer needs support with their mortgage, we’re always here to talk through the options available.”
The full list of new Savings Accelerator tiered rates from 10 February 2026 are as follows:
| Account balance | Old Rate | New Rate |
| $150,000 and over | Up to 5.00% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) | Up to 5.40 p.a.% variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) |
| 3.95% p.a. ongoing variable rate | 4.35% p.a. ongoing variable rate | |
| $50,000 and $149,999 | Up to 4.05% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) | Up to 4.45% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) |
| 3.00% p.a. ongoing variable rate | 3.40% p.a. ongoing variable rate | |
| $0 – $49,999 | Up to 3.15% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) | Up to 3.55% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) |
| 2.10% p.a. ongoing variable rate | 2.50% p.a. ongoing variable rate |
The bank will also increase all variable home loan rates for new and existing customers by 0.25% per annum. All variable rate increases will be effective from 10 February 2026.
Visit ING’s mortgage repayments calculator to estimate what this might mean for you***. Support is available if you need assistance navigating the rise, by visiting https://www.ing.com.au/help-and-support/tips-hints-guides/financial-hardship.html.
For more information, please visit https://www.ing.com.au/rates-and-fees/interest-rate-announcement.html.
More information
Notes to editors
*Kick starter offer – available on eligible accounts opened from 14 November 2025 for new to ING savings customers.
The variable kick starter rate is an introductory variable bonus rate that which applies on top of the ongoing variable rate on balances of up to $500,000 for 4 months from the date of account opening (that is, the date an account number is issued).
The variable kick starter rate is not available on a Savings Accelerator if any account holder has ever held a personal savings account with ING.
For balances over $500,000 during the first 4 months, or any balance after the first 4 months, only the ongoing variable rate will apply.
The advertised kick starter rate doesn’t apply to accounts opened before 14 November 2025 – you can view your current rates through Online Banking or the Mobile App.
The combined total deposits in all your Savings Accelerator account(s) shouldn’t exceed $5 million, whether account(s) are in individual or joint name(s).
ING may change, extend or withdraw the current kick starter offer or the kick starter rate (including any special rate) any time. If ING does so, it will provide notice by updating the Savings Accelerator product page on the ING website. At the expiry of any special rate offer period, the kick starter rate may be lower or higher than the advertised special rate.
The variable kick starter rate is not payable in conjunction with any other promotional rate.
**The rate increase of 0.25% per annum will apply to the additional variable rate for eligible Savings Maximiser customers from 10 February 2026. The additional variable rate currently 4.75% p.a. (that is added to the Savings Maximiser standard variable rate currently 0.01% p.a) 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)
- Make at least five 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)
- 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 at any time. The additional variable rate is not payable in conjunction with any other promotional rate.
Information and interest rates are current as at the date of this publication and subject to change.
Read the product terms and conditions available at ing.com.au before deciding if the product is right for you. ING is a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823.
***The Loan Repayments Calculator is not an offer of credit and is an approximate guide only. It gives an indication of the type of repayment required and the total interest payable, at the frequency requested, in respect of the loan parameters entered, namely amount, term and interest rate.
The formulae used may change at any time without notice. The calculators are provided by InfoChoice.
About ING
ING is Australia’s most recommended bank according to RFI Global’s Consumer Atlas Survey, July – December 2025 (n = 29,246) when compared to customers of the 10 largest ADIs operating in Australia amongst AFR customers. ING is Australia’s fifth largest main financial institution (MFI) with 5% market share according to RFI Global’s Consumer Atlas Survey, July – December 2025 (n = 29,246). MFI is defined as the bank that the consumer says is their main financial institution.
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Information is current as at the date of publication and is subject to change.
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