Compare ING Savings Accounts: Open A New ING Savings Account Online

How you handle you savings is a crucial part of your financial planning, so you need to be sure that you choose the ING savings account that is right for your own circumstances and requirements.

There are a handful of ING savings accounts aimed at the personal customer who wants to make an application online:

• Savings Maximiser

• Term Deposit – Personal
• Savings Accelerator
• DIY Super – at call (for customers with a Business Optimiser account as well)DIY Super – term deposit (for customers with a Business Term Deposits account as well)

Two accounts are aimed at the business customer who wants to make an application online:

• Business Optimiser
• Term Deposit – Business

None of the above accounts carries any fees or charges.

How to apply online for an ING savings account:

For your online application to run smoothly, you will need to have certain information to hand. For a Savings Maximiser, for example, you will need:

• Your name.
• Your residential address in Australia.
• Your date of birth (you must be 13 years old for this particular account).
• An Australian telephone number.
• Details of the everyday bank account you want to link to your Savings Maximiser.
• Your Tax File Number (TFN) or exemption code if you want to avoid deduction of tax at the highest rate.
• Your Client Number, if already an ING DIRECT customer.

You will also need to read and agree to the terms and conditions of the Savings Maximiser account.

For the specifics of each account, you should check out the ING website to compare and contrasts the various accounts. Each account will have different interest rates, transaction restrictions, opening deposit requirements, and ongoing minimum balance requirements.

You need to make a fully informed choice about which ING account suits you best. If you think you may need to have relatively easy access to your savings, then there is no point opting for the best interest rate available if that means you are restricted in how many times you can carry out a transaction on the account. If you plan to lock your money away for a while to take advantage of a higher interest rate, you must be sure your money really is surplus to requirements.

After you submit your application for an ING savings account:

One you have submitted your application, ING may be able to verify your details electronically. If so, your account will be open for use straight away. If not, you will receive instructions as to how you should proceed to open your account. Once it is opened, you will activate your account by authorising a payment from your linked bank account. A Starter Pack will arrive shortly in the mail, detailing everything you need to know to manage your account.

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