ING’s plan to win savers with a 6pc interest rate | How to earn 6% interest with ING Savings Bo…

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How to earn 6% interest with ING Savings Booster (and what’s the catch?)

ING has often led the market with some of the highest interest rates on savings accounts available, and it's in the top spot again with Savings Booster – its "biggest change to savings products in 18 years".

There are no other mainstream savings accounts on the market right now offering a 6% return, though many hover nearby in the high 5s.

So how does ING's new Savings Booster work – and is there a catch?

The headline-grabbing 6% rate is a great bonus if you're new to ING.

But it's the ongoing rate of up to 5.40% p.a. that really stands out. It's among the highest savings rates on the market, and the conditions are relatively easy to meet.

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

Popular bank ING has launched a new flagship savings account for Aussies. ING's Savings Maximiser account has become hugely popular amongst Aussie savers thanks to the Barefoot Investor, but the bank's newest account promises an even higher, "market leading" interest rate.

With ING's new Savings Booster, customers can earn up to 6 per cent interest for the first four months when they grow their balance by $100 or more each month. The ongoing rate then drops to 5.4 per cent after the introductory period, provided they still meet bonus conditions.

Canstar data insights director Sally Tindall told Yahoo Finance the 6 per cent introductory rate would "turn heads" and was the highest savings rate on the comparison site's database.

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