Business · Companies · 15 hrs ago
ING to stop taking new applications for Savings Maximiser
ING will stop accepting new Savings Maximiser applications from 1 December 2026 in Australia.
People who already have an account can keep using it and can still earn interest under the existing terms.
The account currently pays 5.75% a year on balances below $100,000 for customers who meet monthly conditions, including a deposit, card purchases and balance growth.
Those who miss the conditions receive the 0.01% base rate.
ING says the change is part of a review of its savings products, as banks face interest from customers seeking simpler ways to earn bonus rates.
ING launched Savings Booster in July 2026, and it requires customers to grow their balance by at least $100 each month to qualify for bonus interest.
Existing customers do not need to switch, but can compare accounts if they want to see which offers a better return.
ING has not said that existing Savings Maximiser accounts will close.
ING will stop accepting applications for new Savings Maximiser accounts from 1 December 2026.
Existing customers can keep their accounts and continue earning interest under the existing terms.
The account currently pays 5.75 per cent a year on balances below $100,000 when customers meet monthly requirements.
ING says the change is part of a review of its savings products.
The move follows the launch of ING’s Savings Booster in July 2026, which has fewer conditions for earning bonus interest.
- Who
- ING, an Australian bank, and customers applying for its Savings Maximiser account.
- What
- ING will stop accepting new applications for the account. Existing customers can keep using their accounts.
- When
- From 1 December 2026.
- Where
- Australia.
- Why
- ING said it was reviewing its savings product range. The sources also describe a shift towards savings products with fewer conditions.
ING
Taylor Blackburn, Finder personal finance specialist
Reason for change
ING
ING said the move was part of reviewing its savings product range.
Taylor Blackburn, Finder personal finance specialist
Blackburn said the account’s requirements left some customers wanting, and called the decision disappointing.
Alternative accounts
ING
ING said Savings Booster and Savings Accelerator give customers more choice.
Taylor Blackburn, Finder personal finance specialist
Blackburn said ING may direct customers towards Savings Booster, but noted the account has lower requirements to qualify for bonus rates.
ING launched the Savings Maximiser.
ING launched its Savings Booster account.
ING announced to customers that it would stop accepting new Savings Maximiser applications.
ING is due to stop taking new applications for Savings Maximiser accounts.
- New applications stop
- 1 December 2026
- Current customers
- Can keep their accounts and continue earning interest under existing terms
- Savings Maximiser rate
- 5.75% per year on balances below $100,000 when monthly conditions are met
- Base rate
- 0.01% per year if customers do not meet all bonus-interest conditions
- Savings Booster launch
- July 2026
3 sources
What people are saying
We’ve been really pleased with the strong customer response to Savings Booster, which was introduced to give Australians a simple way to earn bonus interest
The Savings Maximiser has been a stalwart in the savings game for many years so it is sad to see it put out to pasture