⭐ Editor's Choice — Top Rated Pick
ING Savings Maximiser & Orange Everyday
📍 Available in: Australia
★★★★★ 4.8 / 5.0
Made famous by The Barefoot Investor, the ING Savings Maximiser paired with an Orange Everyday transaction account remains one of Australia’s highest-yielding bank accounts at 5.50% p.a. variable interest on balances up to $100,000 AUD. To unlock the 5.50% p.a. bonus rate each calendar month, account holders must complete three monthly conditions: deposit $1,000+ from an external source, make 5+ settled debit card purchases, and grow their closing Savings Maximiser balance by at least $0.01 above the previous month’s closing balance (excluding interest).
Key Facts at a Glance
| Cost / Fee Structure | $0 |
| APY / Rewards Yield | 5.50% p.a. Variable (Up to $100,000 AUD) |
| Minimum Deposit / Balance | Deposit $1,000/mo + 5 Card Taps + Grow Balance |
| FDIC / SIPC / Regulatory Protection | $250,000 AUD Govt Guarantee (FCS) |
| ATM Network & Rebates | Free Australian ATMs + 5 Free Overseas ATMs/Month |
Pros & Cons
✓ Pros
- ✓Top-of-market 5.50% p.a. ongoing variable yield on balances up to $100,000 AUD
- ✓Earns 1% cashback on household electricity, gas, and water utility bills via Orange Everyday
- ✓Supports physical cash deposits at Australia Post via Bank@Post (unlike Macquarie and Ubank)
✕ Cons
- ✕Strict 3-part monthly hoop: if you make a net withdrawal in any month so your closing balance is lower than the prior month, your rate drops from 5.50% to 0.55% for that month
- ✕5.50% bonus rate only applies to a single nominated Savings Maximiser account up to $100,000
Key Features
5.50% p.a. Ongoing Variable Rate (0.55% Base + 4.95% Bonus) up to $100,000 AUD1% Cashback on Eligible Gas, Electricity & Water Utility Bills Paid From Orange Everyday (Up to $100/yr)0% ING International Transaction Fees on Overseas Purchases & 5 Overseas ATM Withdrawals/MonthBank@Post Support to Deposit Cash & Cheques at 3,500+ Australia Post Outlets
Compare ING Savings Maximiser & Orange Everyday Side-by-Side
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