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ING Savings Maximiser

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HyperJK

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anyone got an ING savings maximiser account? if so im just want to ask in your opinion if its good from what i have known from the ads and if it has benefited you.

your opinion is greatly appreciated.
 
We were going to go with that one, but instead went for the Citibank online account.

Interest rate was slightly higher, and better access to ones money.

The interest is quite good. On about $10,000 you get something like $50 a month interest. Certainly beats the rubbish that Commbank (and the other mainstream banks) give you with their Award Savers and the like.
 
No complaints. Access to money via phone or internet. You have your money the next day if you complete the transaction before 4pm on a business day.

You still need a 'normal' bank account to transfer money into and out of the account though.

5.25% interest rate atm is good.
 
Yea, ive got one. Im 15 so I dont really know much about them.

Free money is worth it.. just for having your money with them. Easy to transfer aswell.
 

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kriles76 said:
You still need a 'normal' bank account to transfer money into and out of the account though.
Click to expand...

Another reason we went with Citibank (aside from the better interest rate). Found that there are far more options for deposits (at a branch, at a post office etc.) with Citibank.
 
Citibank is 5.40%, ING is 5.25% per annum. I'm with ING and have no problems with it, but if you need to transfer money to and fro alot, take the Citibank one.

I would take the citibank one anyway, better interest as well.
 
Hey guys,

I got my first monthly interest credited to my ING account but I have a query.

I earnt $23.50 for the month, but then I have about $11 witholding tax. Is this normal? Anyway I can get around this???

Does the citibank option have this? If anybody can give me any info about the witholding tax that would be great!

Cheers
 
ajackett110 said:
Hey guys,

I got my first monthly interest credited to my ING account but I have a query.

I earnt $23.50 for the month, but then I have about $11 witholding tax. Is this normal? Anyway I can get around this???

Does the citibank option have this? If anybody can give me any info about the witholding tax that would be great!

Cheers
Click to expand...

Quite simply, it sounds as though you must not have declared your tax file number when you applied for your account.

The government has assumed that you are in the top tax bracket and slugged you 47% tax on the interest earnt.

You should contact ING and submit your tax file number to avoid this.

Otherwise, I think that you can declare this as tax already paid when you do your tax return for this financial year and get some of it back anyhow.

Either way, you should not lose out.
 

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