ING crowned Australia’s Best Bank finalist
As a 2022 finalist, ING’s win is a testament to the bank’s offerings across a spectrum of financial products, many of which have won separate Mozo Experts Choice Awards over the last year.
To determine which financial institutions are awarded Australia’s Best Banking titles, Mozo’s Expert Judges compare which top performers in the banking world provide the best value and service to customers.
In 2022, 90 banking providers were assessed on their performance over the last 12 months and ranked across individual product categories. ING remained extremely competitive against other banks for their all-around awesomeness, hence their spectacular win.
Take a gander of some of ING’s excellent offers for loans and bank accounts below, including some award-winners.
- Variable interest from 2.99% p.a. (3.02% p.a. comparison rate*) for owner-occupiers with an LVR 80-90%
- Free extra repayments and redraw facility
- No ongoing or application fees
First home buyer? This twice-decorated 2022 Mozo Experts Choice Home Loan Awards winner in the First Home Buyer and Investment categories stands out for its exceptional value and flexibility. Designed for owner-occupiers with a 10-20% deposit, this variable interest loan features free extra payments, a free redraw facility, and no ongoing service or application fees. Existing ING customers can also use ING’s round-up feature, which rounds up eligible Orange Everyday card purchases to the nearest $1 or $5, then the difference goes towards paying down your Mortgage Simplifier home loan. Alas, this loan doesn’t come with an offset account. There’s also a $299 upfront settlement fee to keep in mind. However, if you apply to refinance to Mortgage Simplifier between 1-31st July 2022 and settle by 31st October 2022, you could receive $3,000 cashback (other T&Cs apply).
Orange Everyday Account
- Free/rebated ATM withdrawals (T&Cs)
- No monthly account fees (T&Cs)
- 1% cashback on eligible utilities bill payments via BPAY or direct debit (T&Cs)
ING’s Orange Everyday bank account is big on convenience and value, so no wonder it won a 2022 Mozo Experts Choice Bank Accounts Award in the Exceptional Everyday Account category. There are no monthly account fees. Orange Everyday benefits include 1% cashback on eligible utility bills (capped at $100 per financial year, other T&Cs apply) and rebates on the first five fee-incurring ATM withdrawals (both domestic and international). However, you will need to meet monthly eligibility criteria, such as depositing at least $1,000 from an external source (like your salary) into your personal ING account (excluding Living Super, Personal Loans and Orange One) and make five settled eligible purchases with a linked ING debit or credit card.
- 2.10% p.a. ongoing bonus interest (if conditions are met)
- No account or withdrawal fees
- Roundup tool
After some long-term savings? When you link this 2022 Mozo Experts Choice Saving Account Award winner to ING’s Orange Everyday transaction account, you could score up to 2.10% p.a. in interest, one of the best savings rates among this year’s MECA contenders. There are a few conditions you’ll need to meet, including a minimum $1,000 monthly deposit to a personal ING bank account (excluding Living Super and Orange One), making five settled debit or credit card purchases each month, and growing your savings balance monthly (excluding interest). However, there are no account or withdrawal fees, and you can use the round-up feature for minimal-effort proactive savings. This feature assesses every transaction via the Orange Everyday account and rounds up purchases to the nearest $1 or $5, transferring the difference to the Savings Maximiser.
Unsecured Personal Loan
- Fixed interest rates from 6.99% p.a. (7.13% p.a comparison rate*)
- Free extra repayments and no exit fee
- Borrow up to $60,000
This loan is free from hidden fees and offers a competitive fixed rate starting from 6.99% p.a. (7.13% p.a comparison rate*) depending on your credit score. You won’t need to put up collateral as this is an unsecured loan, and you can feel confident always knowing your repayment amounts since it’s a fixed rate. You can borrow up to $60,000, make repayments fortnightly or monthly, and make extra repayments for free (just remember you can’t redraw this extra cash). According to ING, Orange Everyday members could also receive the loan money directly into their account the same day they accept the loan offer. Just be sure to stick to your schedule, since there’s a $20 late payment fee. There’s also a $150 upfront application fee.
Want to learn more about Australia’s best banks, credit unions and mutual banks? Dig into the details of our awards and judging process by reading the Australia’s Best Banking methodology report for 2022.
* WARNING: This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may influence the cost of the loan. The comparison rate displayed is for a secured loan with monthly principal and interest repayments for $150,000 over 25 years.
** Initial monthly repayment figures are estimates only, based on the advertised rate, loan amount and term entered. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
*** WARNING: The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. This comparison rate applies only to the example or examples given. Different amounts and terms will result in different comparison rates. Costs such as redraw fees or early repayment fees, and cost savings such as fee waivers, are not included in the comparison rate but may inﬂuence the cost of the loan.
^See information about the Mozo Experts Choice Bank Account Awards
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