published 13 May 2026
ING gives savers another lift
ING Australia is giving savers another boost, increasing interest rates for Savings Accelerator and Savings Maximiser customers for the third time in 2026.
ING Australia’s Head of Retail, Jennifer Davies, said:
“With cost-of-living pressures remaining high, we know many Australians are looking for ways to make their money work harder. That’s why we’re increasing our savings rates again and making it easier for more customers to access strong savings rates.“
Changes to variable savings interest rates will be effective from May 15th 2026.
Savings Maximiser
ING’s high interest savings account, Savings Maximiser, will increase by 0.25% p.a., taking the variable rate eligible* new and existing customers could earn, to 5.50% p.a.
Savings Accelerator
ING will also increase variable interest rates across all tiers of Savings Accelerator by 0.20% p.a., this is alongside recent changes to the product’s tiering structure making the ongoing variable rate more accessible to savers.
New ING savings customers opening a Savings Accelerator will receive a Kick Starter offer of 5.85% p.a. for the first 4 months, on balances up to $500k, with an ongoing variable rate of up to 4.80%.
Under ING’s tiered Savings Accelerator structure, different rates apply to different portions of an account balance.
The full list of new Savings Accelerator rates from May 15th 2026 are as follows:
| Tier (Portion of balance) | Old Rate | New Rate |
| Tier 1 $0–$250,000 | Up to 5.65% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) | Up to 5.85% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) |
| 4.60% p.a. ongoing variable rate | 4.80% p.a. ongoing variable rate | |
| Tier 2 $250,000.01 – $500,000 | Up to 5.65% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) | Up to 5.85% p.a. variable rate (Kick starter offer available for 4 months on balances up to $500k for new to ING savings customers) |
| 4.60% p.a. ongoing variable rate | 4.80% p.a. ongoing variable rate | |
| Tier 3 $500,000.01–$2,000,000 | 4.60% p.a. ongoing variable rate | 4.80% p.a. ongoing variable rate |
| Tier 4 $2,000,000.01+ | 2.50% p.a. ongoing variable rate | 2.70% p.a. ongoing variable rate |
Home Loans
The bank will also increase variable home loan rates for new and existing customers, effective from May 15th 2026.
Financial Hardship Support
ING has a dedicated Financial Hardship Support team available to help customers who may be experiencing financial difficulty, including those struggling to keep up with loan repayments.
Customers who are concerned about their repayments are encouraged to get in touch with ING early to discuss the support that may be 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.
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.
Information and interest rates are current as at the date of this publication and subject to change.
Notes to editors
*The rate increase of 0.25% per annum will apply to the additional variable rate for eligible Savings Maximiser customers from May 15th 2026. The additional variable rate currently 5.24% 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.
** Kick starter offer – available on eligible accounts opened from 1 May 2026 for new to ING savings customers.
The variable kick starter rate is an introductory variable bonus rate that 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 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.
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All information in the ING Newsroom is accurate at the time of publication.