From the comment on the latest post below, there won't be any increase for Saving Maximiser this time.
https://www.facebook.com/INGAust
What a shame.
ING Won't Increase Interest Rate for Saving Maximiser for November Rate Rise
punter1 on 10/11/2023 - 09:14
Last edited 10/11/2023 - 11:47 by 1 other user
Last edited 10/11/2023 - 11:47 by 1 other user
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They did slow down towards the end of the first 12 hikes actually. They used to announce the same day as the hike that rates would go up the day after, then they started delaying the announcement and when it did come it would be starting the next month. I would keep waiting to see if UBank hikes.
Yeah not moving anyway.
The banks are hurting, can barely make a profit, let them have this one.
The CEOs are only able to buy 1 rolls royce this year, my heart goes out to them
Hate to be in their shoes
Can't tell if sarcastic or not….
I've got some bad news for you regarding the iq distribution bellcurve.
If you were serious I would say the exact same thing to you buddy!
But of course the home loan rate goes up within a week of the announcement…
Sick joke
BOQ decreasem rates on theirs before this rate rise. Can't see em increasing it
who said competition was dead?
They've been gradually eroding their products over the past couple of years.
Time to move.
to where?
I was hoping Ubank would pass on the increase.
5.25% over 5.5% might be worth it to avoid the ING hoops.
I think people should learn how to invest and make their money work harder in the long term.
Yeah, sure… tell that to the Governments that has let CBA and a bunch of other banks do sweet FA to teach kids proper money management and finance literacy skills. CBA were at it for 90 years even!
In December 2020, ASIC released a report on school banking services, with the key finding that providers of the service were unable to demonstrate that their programs improved savings behaviour, despite their claims that the programs helped children develop long-term savings habits.
It also criticised the way the programs exposed young children to sophisticated marketing and advertising, and found that payments made to schools appeared to be the main reasons schools encouraged participation.
And it said banks did a poor job of disclosing their commercial interests.
“School banking programs are a marketing exercise for the financial institutions that offer them,” the report said.
At the time of the report’s release, Bendigo Bank, IMB, South West Credit Union and Northern Inland Credit Union advised ASIC that they would terminate their school banking programs.
ASIC said a number of other ADIs, including CBA, had their programs under review.
The release of ASIC’s review came a few weeks after the Victorian government announced that it would stop financial institutions running banking programs in its schools. The Queensland and ACT government have taken similar steps.
According to ASIC’s figures, about 63 per cent of Australian primary schools were participating in banking programs and there were about 180,000 student accounts.
Well thank gosh I'm not one of those kids.
Australians are providing cheap money to banks who use that money to make lots of money.
And Australians are too lazy to shop around for bank deposits and home loans.
ING savings rate now 5.5%.
It looks like ING might also be removing the ‘grow your balance’ hoop. It’s no longer featured in the app as a condition. (But still mentioned on the website. Transition in progress?)
Not according to my app. Grow your balance is still showing as a requirement for January.
I guess ubank will be the same as they are not usually slow in announcing rate increases.