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Personal Term Deposit.

Earn up to

%
p.a.

210 days term

Earn a high fixed interest rate over the term of your choosing. On deposits of $10,000 or more - no fees.

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High interest, fixed returns.

Pay no fees.

Flexible terms.

Let your money do the work for you.

Sit back, relax and watch your savings grow. Secure competitive interest rates from 3 months to 2 years. Take control, grow your savings and resist the urge to dip in by securely locking them away1 in a term deposit account.

Popular fixed term rates

Choose a term that suits your savings goals, whether it's a holiday, a home or a hot air balloon (if that's your thing). Here's a snapshot of some of our rates.

3 months (90 days)

EARN UP TO

%
p.a.

6 months (180 days)

EARN UP TO

%
p.a.

1 year (365 days)

EARN UP TO

%
p.a.
See all rates below Open account

Benefits of our term deposits

Competitive rates up to % p.a.

Secure a high interest rate guaranteed for your chosen term on deposits of $10,000 to $5 million. Rates are dependent on the term you choose.

No fees

Every cent you deposit earns you interest - with no fees - so your entire balance has the chance to grow.

Know your savings are secure

Rest easy knowing combined balances up to $250,000 per customer are fully guaranteed by the Australian Government.

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How much could I earn?

Explore your estimated savings potential with our Term Deposit Calculator.

Term Deposit Calculator

No fees, great rates

Competitive interest rates, fixed for the term. Minimum opening deposit of $10,000.

Terms

Interest rates

3 months (90 days)

% p.a

4 months (120 days)

% p.a

6 months (180 days)

% p.a

7 months (210 days)

% p.a

9 months (270 days)

% p.a

11 months (330 days)

% p.a

1 year (365 days)

% p.a

2 years (730 days)

% p.a
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How to open a Personal Term deposit

1

Open online

The fastest way to open a term deposit is by completing the online application. You'll be ready to start saving in a few simple steps.

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2

Choose your maturity option

You'll be asked to choose from the following maturity options:

  • Renew term deposit - principal and interest
  • Renew term deposit - principal only

You can also change options anytime online up to 1 business day before maturity.

3

Watch your savings grow

Once set up's done, sit back, relax and watch your savings grow with a secure rate for your chosen term.

What you'll need to open your account:

To open a Personal Term Deposit, you need a minimum deposit of $10,000.

You must be:

  • An account holder using the product for personal use (if it's for your business, see our Business Term Deposit account)
  • An Australian resident for taxation purposes
  • Aged 18 years or over

You'll need to give us:

  • An Australian residential address and phone number
  • Bank account details to link to your term deposit account
  • A tax file number or exemption code (otherwise tax is deducted at the highest marginal rate)
  • An ING client number if you're already with ING
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Other ways to save with ING

Every cent you deposit will earn you interest.

Savings Maximiser

A high variable interest rate for eligible accounts that's hard to beat.

Earn up to

%
p.a.

Variable rate

(standard variable rate of % + additional variable rate of % for eligible accounts) How to earn bonus rate.

  • No fees

    With no fees and no minimum balance, save the way you want to save - with more of your money going towards your savings goals.

  • ING Everyday Round Up

    Round up Orange Everyday card purchases to the nearest $1 or $5, and you can choose to have the round up amount go from your Orange Everyday account straight to your Savings Maximiser.

  • 24/7 instant access

    Savings Maximiser customers with an Orange Everyday account can transfer monies funds between the two accounts, over the phone and using the ING app for instant access.

Open now Find out more

Savings Accelerator

A tiered savings account that rewards you for growing your savings.

Earn up to

%
p.a.

Variable rate

(additional Kick starter variable rate of % + on going variable rate of %)

Kick starter rate available to new to ING savings customers for 4 months, on total balances of $150K to $500K. Then roll onto % p.a. variable ongoing rate on balances up to $5 million.

This special kick starter rate is for a limited time only, don't miss out - open an account today.

  • Grow your interest when you grow you balance

    Earn a competitive variable rate on balances over $50,000, and an even higher rate on balances exceeding $150,000. The rates for each balance tier apply to the entire account balance, up to the limits stated.

  • No fees, more growth

    With no fees, every dollar you deposit will earn you interest, giving your money every opportunity to grow to achieve your savings goals.

  • No fuss

    No fixed term, minimum withdrawal amounts or monthly eligibility requirements. Plus combined balances up to $250,000 per customer are fully guaranteed by the Australian Government.

Open now Find out more
CANSTAR - Bank of the Year 2020 - 2025

Canstar Bank of the Year, after year, after year...

ING has been awarded Canstar Bank of the Year six years running (2020 - 2025) for outstanding value across our suite of products and services.

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More from ING

Offer available on 1 account only.

1 You may withdraw all (but not part) of your deposit before the end of the term. A reduced rate of interest will apply in these circumstances.

Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to a Personal Term Deposit, Savings Accelerator, Savings Maximiser or Orange Everyday, you should read the Personal Term Deposits Terms and Conditions booklet and Target Market Determination, Savings Accelerator Terms and Conditions booklet and Target Market Determination. Savings Maximiser Terms and Conditions booklet and Target Market Determination and the Orange Everyday Terms and Conditions booklet, Target Market Determination and Everyday Banking Fees & Limits Schedule. To view these documents you may need Adobe Acrobat. If you have a complaint, we have procedures in place to help resolve any issues you may have. For the best ways to contact us, visit at ing.com.au/contactus. Deposit and savings products are issued by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL 229823.

Personal Term Deposit

Personal Term Deposits require a minimum opening deposit of $10,000. The combined total deposits in all your Personal Term Deposit accounts is not permitted to exceed $5 million, whether the accounts are in individual or joint names. The interest rates that apply to Personal Term Deposits are the interest rates that are current on the date the term deposit is opened.

Savings Accelerator

Information and interest rate is current as at the date of publication and is subject to change.

Kick starter offer - available on accounts opened from 9 June 2025.

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). For accounts opened from 9 June 2025 the variable kick starter rate is a special rate of % p.a.

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.

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 page at ing.com.au. 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.

The advertised kick starter rate doesn't apply to accounts opened before 9 June 2025 - you can view your current rates through Online Banking or the Mobile App. 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).

Combined balances up to $250,000 per account holder are guaranteed by the Australian Government.

Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to Savings Accelerator you should read the Savings Accelerator Terms and Conditions booklet. To view these documents you may need Adobe Acrobat. Savings Accelerator is issued by ING.

Savings Maximiser

The additional variable rate (that is added to the Savings Maximiser standard variable rate) 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);
  • also make at least 5 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); and
  • 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 or the additional variable rate offer at any time with notice. The additional variable rate is not payable in conjunction with any other promotional rate.

Information and interest rates are current as at the date of publication and are subject to change.

Canstar Bank of the Year 2020 - 2025: Canstar has awarded ING Bank of the Year 2025 for the sixth year in a row, recognising the outstanding value ING offers across all our products and services.