ING DIRECT Bank Overview

Turn to ING DIRECT for simple and straightforward banking products and services like everyday accounts, savings accounts, home loans, and superannuation solutions.

ING DIRECT is the trading name of ING Bank (Australia) Limited. The ING Group, an international banking and financial services corporation, wholly owns ING Bank and receive its banking licence in 1999. ING DIRECT has its headquarters in Sydney, and an Australian based round-the-clock customer care centre in Tuggerah, NSW.

ING DIRECT Transaction Account Comparison

Rates last updated October 25th, 2016
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
St.George Complete Freedom Account
10% Cash back for online gaming purchases.
Waived account keeping fees when minimum deposit is met with no minimum balance.
0.00% 0.00% 0.00% $5 $0 / $1 Open More
ING DIRECT Orange Everyday Account
$75 cash bonus.
Get a competitive ongoing variable rate when linked with a Savings Maximiser.
0.00% $0 $0 / $0 Open More

ING DIRECT Savings Account Comparison

Rates last updated October 25th, 2016
Maximum Variable Rate p.a. Standard Variable Rate p.a. Bonus Interest p.a. Fees Min Bal / Min Deposit Interest Earned
ING DIRECT Savings Maximiser
Ongoing, variable 2.75% p.a. when you link to an ING Orange Everyday bank account and deposit $1,000+ each month. Available on balances up to $100,000.
2.75% 1.60% 1.15% $0 $0 / $0 Open More
ING DIRECT Living Super Cash Hub
Ongoing, variable 1.30% p.a. Available on the entire balance.
1.30% 1.30% 0.00% $0 $0 / $0 Open More
Introductory rate of 2.75% p.a. for 6 months, reverting to a rate of 2.00% p.a. Available on balances below $1,000,000.
2.75% 2.00% 0.75% $0 $0 / $0 More
ING DIRECT Business Optimiser
Introductory rate of 2.50% p.a. for 6 months, reverting to a rate of 1.60% p.a. Available on balances below $1,000,000.
2.50% 1.60% 0.90% $0 $0 / $0 More
ING DIRECT Savings Accelerator
Accelerate your savings with the ING Direct savings accelerator. Get a higher interest rate with a higher balance.
1.90% 1.90% $0 $150,000 / $0 More

ING DIRECT Term Deposit Rates Comparison

Rates last updated October 25th, 2016
3 Mths p.a. 4 Mths p.a. 6 Mths p.a. 12 Mths p.a. 24 Mths p.a. 36 Mths p.a. 48 Mths p.a. 60 Mths p.a. Min Deposit Interest Earned
ING DIRECT Term Deposit
ING DIRECT Term Deposit
2.10% 2.60% 2.30% 3.00% 2.70% - - - $10,000 More
ING DIRECT Business Term Deposit
ING DIRECT Business Term Deposit
2.10% 2.60% 2.30% 3.00% 2.70% - - - $10,000 More

Services offered by ING DIRECT

ING DIRECT offers an array of financial services including:

  • Everyday banking. ING DIRECT provides an everyday banking account that offers free ATM access around Australia and no account keeping fees.
  • Savings. You can choose between two distinct savings accounts as per your needs. Plus, if you can put some money away for a fixed time period, you can even consider opening an ING DIRECT term deposit.
  • Home loans. No matter what kind of home loan you’re looking for, chances are you’ll find a suitable one when banking with ING DIRECT. Your options include fixed rate and variable rate loans, equity loans, construction loans, and lines of credit.
  • Superannuation. If you’re paying unnecessary fees towards your superannuation, you can consider moving funds from your superannuation to an ING DIRECT Self Managed Super Fund (SMSF) or its Living Super account
  • Business solutions. ING DIRECT’s offerings for businesses include savings accounts, term deposits, and commercial loans.

The benefits of banking with ING DIRECT

ING DIRECT customers can look forward to the following benefits:

  • Regulated. The Australian Prudential Regulation Authority (APRA) regulates the functioning of ING DIRECT, and as an ING DIRECT bank account holder you receive protection through the Australian Government Guarantee Scheme for combined balances of up to $250,000.
  • Commitment to sustainability. ING DIRECT plays an active role in addressing community needs, and it uses its expertise and skills to benefits its community partners. As of now ING DIRECT supports three key community partners: Cerebral Palsy Alliance, The School for Social Entrepreneurs, and United Way.
  • Minimal fees. ING DIRECT aims to keep its fees as low as possible, and you can look forward to fee free ATM transactions, low or no fees with superannuation solutions, low or no ongoing account keeping fees with home loans, and fee free savings accounts.
  • Easy access to funds. ING DIRECT lets you access your money when and where you need it. Access to funds, depending on the kind of account you have, can come through ATMs, EFTPOS terminals, Australia Post, online banking, mobile banking, and phone banking.

How to apply with ING Direct

Applying for and opening a new ING DIRECT account requires that you submit an online application or speak to an ING DIRECT representative over the phone, but do so only if you meet the following criteria:

  • You’re at least 18 years old
  • You’re an Australian resident (for taxation purposes)
  • You have an Australian residential address
  • You have a mobile phone (to register for security codes)

Completing an application for a new ING DIRECT account requires that you provide different types of information, which includes the following:

  • Identification documents
  • Your tax file number (optional, if you’re opening a savings account)

Banking with ING DIRECT brings with it a number of benefits, which include looking forward to competitive interest rates as well as low fees and charges. To find the right provider for you though, make sure to compare your options before making a decision.

Frequently asked questions

Does ING DIRECT Bank offer credit cards?

ING DIRECT does not offer credit cards. Its Smart Home Loan comes with a Visa card linked to a line of credit, which offers the typical functionality of a credit card. The Orange Everyday transaction account comes with a linked Visa debit card.

What happens after I submit an online application?

If you verify your identity online the account opens straightaway, and you can expect to receive your starter pack by mail in two to five working days. If you can’t verify your identity online, you have to print the Identity Verification Form when you complete your application, and then take it to your nearest Australia Post outlet.

Which ATMs can I use in Australia, and how much would it cost?

ING DIRECT does not have its own ATMs, but it gives its customers the ability to use just about any ATM in Australia for free. If you deposit $1,000 or more in your ING DIRECT account in the previous calendar month, ING DIRECT reimburses all the ATM owner fees you incur in that month. It reimburses ATM fees of all its home loans customers as well, no matter how much money they withdraw or deposit. It does not offer waivers on international ATM fees.

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2 Responses to ING DIRECT Bank Overview

  1. Default Gravatar
    Allan | August 11, 2014

    Does Ing have a credit card and how does it compare to St. George?

    • Staff
      Jeremy | August 12, 2014

      Hi Allan

      Thank you for your question. ING don’t currently have a credit card. They do have a debit card product – the ING Direct Orange Everyday Account which is worth checking out.

      Thanks again,


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