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