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ING bonus interest seems wrong

I recently started using my ING Savings Maximiser account to get bonus interest but I’m a bit confused as it doesnt seem to cmatch the 5.25%
Here are my numbers , hoping someone can calculate for me where I got it wrong:

  1. At the end of March, i had all green ticks, and the app said i qualify for the bonus interest rate of 5.25% at the end of April.
    I ended March with $1215 balance in my Savings Maximiser account.

  2. In April I moved some money around but made sure to deposit money from my Commbank and had an ending balance of $1220 on April 30.
    I deposited the extra money on April 27 and it had cleared, so it was not pending.

  3. I satisfied all requirements and had all green checks for April. On May 1, the interest I got was $1.30 only

  4. My calculation is that (1220)*(5.25% /12) should have given me an interest of $5.30.
    I only got $1.30 which doesnt look like the bonus interest?

Did I get my calculation wrong in some way?
Should I have deposited more than an additional $5?

Thank you in advance 😊

Posted May 1, 2026, 9:17 PM UTC

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