Savings Booster: 2.25% p.a. Base + 3.15% Boost Interest on up to $500,000, + 0.60% Bonus for 4 Months for New Customers @ ING

Sick of ING’s low cap of $100k? They’ve introduced a new savings account giving outstanding introductory rates and great ongoing rates up to $500k.

Significantly simpler conditions as you don’t need to make 5 transactions or monthly deposits of $1000. Just grow the balance by $100 (excluding interest). A set and forget HISA account.

Savings Booster has:

• Base interest rate of 2.25% up to $2m.
• Boost interest rate of 3.15% up to $500k deposit on increasing balance by $100 (excluding interest)
• New customer bonus 0.6% rate for 4 months up to $500k.

Not as punishing as existing Savings Maximiser by going to 0.01% for failing to meet interest rates, but ongoing rate 0.1% lower (5.5% for Savings Maximiser). Max limit is much higher though.

NOTE: To qualify for the Savings Booster Welcome rate, you and any joint account holder must not have previously held a personal savings account with ING

https://www.ing.com.au/savings/savings-booster.html