ING launches new 6 per cent savings account in biggest change in 18 years: 'Market leading'

July 27, 2026 - 06:06

Customers can now earn an interest rate of up to 6 per cent on their savings, as ING rolls out what it calls a "market leading" offer. The new account marks the biggest change to the bank's savings lineup in nearly two decades, breaking an 18-year stretch of more conservative rates.

The high-interest account is designed to attract savers who have been struggling with low returns elsewhere. Under the new structure, eligible customers can access the full 6 per cent rate, though specific conditions apply. The bank has not disclosed all the fine print, but early details suggest the rate is available on balances up to a certain limit, with a lower rate applied to amounts above that threshold.

Industry analysts say the move puts pressure on competitors to follow suit, especially as central banks hold rates steady. ING's previous savings products had not seen such a dramatic shift since the early 2000s. The bank is positioning the account as a straightforward option for everyday savers, without complex tiers or introductory bonuses that expire after a few months.

For now, the offer is available to new and existing customers who meet the eligibility criteria. ING has not announced a deadline for the rate, leaving the door open for future adjustments based on market conditions. Savers looking to lock in a higher return may want to act quickly, as such generous terms are not guaranteed to last.