9 November 2023

ING Australia announces it will make an annual interest rate increase to some of its Term Deposit and Savings Accelerator offers to help customers boost their savings.

Term Deposits

For new account openings with balances of $10,000 or more:

• 12 month Term Deposit – a 0.30% per annum rate increase taking the rate to 5.30%
• 6 month Term Deposit – 0.25% per annum rate increase taking the rate to 5.05%

Savings Accelerator

There will be a 0.35% per annum rate increase, for new and existing clients, with a Savings Accelerator balance greater than $150,000. This takes the rate to 4.70%.

Home Loans

The bank will also increase all variable home loan rates for new and existing customers by 0.25% per annum.

All variable and fixed rate increases will be effective from 14 November 2023.

For more information, please visit https://www.ing.com.au/rates-and-fees/interest-rate-announcement.html

For more information contact:

About ING

ING changed the way Australians bank more than 22 years ago by launching the country’s first branchless bank. ING now offers Australians home loans, transactional banking, superannuation, credit cards, personal lending, insurance and wholesale banking services. ING is Australia’s most recommended bank according to RFI Global’s XPRT Survey, October 2022 – March 2023 (n = 31,961) when compared to customers of 20 other banks operating in Australia. It is also Australia’s fifth largest main financial institution (MFI) with 6% of market share according to RFI Global’s XPRT Survey, October 2022 – March 2022 (n = 31,961). MFI is defined as the bank that the consumer says is their main financial institution.