published 30 Sep 2026
ING updates savings and home loan interest rates
ING Australia will increase interest rates across its savings products by 0.25% following the Reserve Bank’s latest cash rate decision, boosting returns for savers.
Variable home loan interest rates for new and existing customers will also increase by 0.25% p.a.
The changes will take effect from October 9 2026.
ING Australia Head of Retail Jennifer Davies said the increase would provide a welcome boost for savers.
“With savings interest rates now at levels not seen for over 15 years1, Aussie savers have a real opportunity to earn more on the money they have worked hard to put aside,” Davies said.
“Now is a good time for Australians to take a fresh look at their savings and make sure they’re getting a competitive return.
“Whether they’re saving for a first home, future expenses or simply building a stronger financial buffer, we’re focused on rewarding positive saving habits and helping Australians get more from every dollar they put aside.”
Savings Booster
ING will increase the Savings Booster interest rate by 0.25% p.a., with eligible new-to-ING Savings customers able to access an introductory offer of up to 6.25% p.a. for the first four months on balances up to $500,000 (Including the Base + Boost + Welcome rates). After the introductory period, customers can continue to earn a competitive variable rate of up to 5.65% p.a. (including Base + Boost rates).
The 0.25% p.a. increase applies to Savings Booster’s Base rate, which will rise to 2.25% p.a. on balances up to $2,000,000. Customers who grow their balance by $100 by the end of each month, excluding interest earned, receive an additional 3.15% p.a. Boost Rate on balances up to $500,000.
Savings Accelerator
ING will also increase variable interest rates across all tiers of Savings Accelerator by 0.25% p.a.
With ING Savings Accelerator, different interest rates may apply to different parts of an account balance.
| Tier (Portion of balance) | Old ongoing variable rate | New ongoing variable rate |
| Tier 1 $0 – $250,000 | 4.80% p.a. | 5.05% p.a. |
| Tier 2 $250,00.01 – $500,000 | 4.80% p.a. | 5.05% p.a. |
| Tier 3 $500,000.01 – $2,000,000 | 4.80% p.a. | 5.05% p.a. |
| Tier 4 $2,000,000.01 – $5,000,000 | 2.70% p.a. | 2.95% p.a. |
Savings Maximiser
Savings Maximiser customers will also benefit from a 0.25% p.a. increase to the additional variable rate, available to eligible customers who meet the monthly criteria, taking the total rate available for new and existing customers to 5.75% p.a. on balances up to $100,000.
Home Loans
Variable home loan interest rates for new and existing ING home loan customers will increase by 0.25% p.a.
Davies acknowledged that higher interest rates can create pressure for some borrowers.
“Many households have never seen mortgage rates quite this high,” Davies said.
“It is clear we are in a changing cycle, and we are now entering a new phase where the market anticipates elevated interest rates for some time.
“It’s important for our customers to know that ING is here to support them as they adjust to this higher rate environment.
“If you’re concerned about meeting your repayments, contact us as early as possible. Our dedicated teams can work with you to understand your circumstances and discuss the support options that may be available.”
Financial Hardship Support
ING’s dedicated Financial Hardship Support team is available to assist customers experiencing financial difficulty, including those struggling to keep up with loan repayments.
Customers concerned about their repayments are encouraged to contact ING early to discuss the support options available based on their individual circumstances.
More information is available at: https://www.ing.com.au/help-and-support/tips-hints-guides/financial-hardship.html
For more information visit: https://www.ing.com.au/rates-and-fees/interest-rate-announcement.html
Information and interest rates are current as at the date of this publication and subject to change.
More details
Savings Booster
An active and unrestricted Orange Everyday held in the same name(s) as the Savings Booster is required. Withdrawals from the Savings Booster can only be made via your Orange Everyday, another Savings Booster or a Savings Maximiser, Savings Accelerator, Mortgage Simplifier or Orange Advantage that’s linked to an Orange Everyday in the same name.
Customers cannot hold more than one Savings Booster account in the same name.
The combined total deposits in all your Savings Booster account(s) shouldn’t exceed $5 million, whether account(s) are in individual or joint name(s).
Current rates and eligibility criteria are set out in the Savings Booster Rates Schedule.
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.
For full terms and conditions, see the Savings Maximiser Terms and Conditions.
Savings Accelerator
The combined total deposits in all your Savings Accelerator accounts is not permitted to exceed $5 million, whether the accounts are in individual or joint names
Home Loans
Eligibility and credit criteria apply.
Previous Media Release
All information in the ING Newsroom is accurate at the time of publication.