About the ING savings account

What is the interest rate?

Our interest rates are shown in the table below:

Before June 1, 2019

Interest rate
For available daily balance of less than or equal to PHP 5,000,000 2.00% gross per annum*
For any additional balance above PHP 5,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Starting June 1, 2019

Interest rate
For available daily balance of less than or equal to PHP 10,000,000 2.50% gross per annum*
For any additional balance above PHP 10,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Starting August 1, 2019 until October 31, 2019

Interest rate
For available daily balance of less than or equal to PHP 10,000,000 4.00% gross per annum*
For any additional balance above PHP 10,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Starting November 1, 2019

Interest rate
For available daily balance of less than or equal to PHP 10,000,000 2.50% gross per annum*
For any additional balance above PHP 10,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Depending on market conditions, we may change the interest rates. But if and when we do so, existing customers will be notified and this page will be updated with the new rates.

Is there a minimum amount to earn interest?

There is no minimum amount to earn interest.

How is the interest calculated?

Interest is calculated daily based on the available daily balance of your ING Savings Account using the formula:

(Available end of day balance x interest rate) x (1 day / 365 days*)

*366 days for leap year

Depending on market conditions, we may change the interest rates. But if and when we do so, existing customers will be notified and this page will be updated with the new rates.

When does the interest get credited to my account?

You will receive the interest after 11:00pm or after cut-off time every last day of the month. If you open your account on the last day of the month, interest earned for this day is reflected at the end of the following month.

Why is there a withholding tax of 20%?

This is a mandatory tax that is withheld in accordance with existing laws, and regulations/issuance of the Bureau of Internal Revenue (BIR).

How do I deposit money in the account?

There are two ways to deposit money into the account:

  1. Transfer funds from your existing banks which use the PESONet or InstaPay platform, and which list “ING Bank N.V.” as one of their receiving banks; or
  2. Deposit check using the “Deposit” function in the ING mobile app.

You don’t issue an ATM card. How can I withdraw money?

The ING Savings Account offers a high interest rate so you can maximize your savings. If you wish to withdraw from the account, you can transfer the money from your ING Savings Account to your account with another bank for withdrawal at no cost. You can also transfer funds to other bank accounts in the Philippines for free. We will launch another bank product with an ATM card in the future.

Where can I find the terms and conditions?

You can find the terms and conditions in the ING mobile app and on our website at https://www.ing.com.ph.

About the ING Savings Account

What is the interest rate?


Is there a minimum amount to earn interest?


How is the interest calculated?


When does the interest get credited to my account?


Why is there a withholding tax of 20%?


How do I deposit money in the account?


You don’t issue an ATM card. How can I withdraw money?


Where can I find the terms and conditions?


What is the interest rate?

Our interest rates are shown in the table below:

Before June 1, 2019

Interest rate
For available daily balance of less than or equal to PHP 5,000,000 2.00% gross per annum*
For any additional balance above PHP 5,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Starting June 1, 2019

Interest rate
For available daily balance of less than or equal to PHP 10,000,000 2.50% gross per annum*
For any additional balance above PHP 10,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Starting August 1, 2019 until October 31, 2019

Interest rate
For available daily balance of less than or equal to PHP 10,000,000 4.00% gross per annum*
For any additional balance above PHP 10,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Starting November 1, 2019

Interest rate
For available daily balance of less than or equal to PHP 10,000,000 2.50% gross per annum*
For any additional balance above PHP 10,000,000 1.00% gross per annum*

*subject to 20% withholding tax

Depending on market conditions, we may change the interest rates. But if and when we do so, existing customers will be notified and this page will be updated with the new rates.


Is there a minimum amount to earn interest?

There is no minimum amount to earn interest.


How is the interest rate calculated?

Interest is calculated daily based on the available daily balance of your ING Savings Account using the formula:

(Available end of day balance x interest rate) x (1 day / 365 days*)

*366 days for leap year

Depending on market conditions, we may change the interest rates. But if and when we do so, existing customers will be notified and this page will be updated with the new rates.


When does the interest get credited to my account?

You will receive the interest after 11:00pm or after cut-off time every last day of the month. If you open your account on the last day of the month, interest earned for this day is reflected at the end of the following month.


Why is there a withholding tax of 20%?

This is a mandatory tax that is withheld in accordance with existing laws, and regulations/issuance of the Bureau of Internal Revenue (BIR).


How do I deposit money in the account?

There are two ways to deposit money into the account:

  1. There are two ways to deposit money into the account: 1) Transfer funds from your existing banks which use the PESONet or InstaPay platform, and which list “ING Bank N.V.” as one of their receiving banks;
  2. Deposit check using the “Deposit” function in the ING mobile app.


You don’t issue an ATM card. How can I withdraw money?

The ING Savings Account offers a high interest rate so you can maximize your savings. If you wish to withdraw from the account, you can transfer the money from your ING Savings Account to your account with another bank for withdrawal at no cost. You can also transfer funds to other bank accounts in the Philippines for free. We will launch another bank product with an ATM card in the future.


Where can I find the terms and conditions?

You can find the terms and conditions in the ING mobile app and on our website at https://www.ing.com.ph.


Need help?

For any question, you may contact us 24/7 via the

Need Help
Need Help

Need help?

For any question, you may contact us 24/7 via the ING Mobile App Live Chat or the ING Bank Facebook Messenger

© 2019 ING Bank N.V., Manila Branch
© 2019 ING Bank N.V., Manila Branch