Last week, popular online bank, ING, slashed its Fixed Rate (Orange Advantage) home loan 2 year rate to an impressive 2.09% (3.77% comparison rate*).
This 2 year fixed rate is the joint lowest rate in Mozo’s database, excluding those only available for purchasing a 'green' home. Plus, ING’s 3 year fixed rate was also dropped to an extremely competitive 2.14% (3.62% comparison rate*).
At the beginning of the month, Mozo’s expert’s rated this fixed home loan as one of the best and presented ING with a 2020 Mozo Experts Choice Award in the Fixed Rate Home Loan category.
ING joins only two other mortgage lenders in Mozo’s database that offer a 2 year fixed rate this low: Reduce Home Loans and Well Home Loans.
When it comes to low fixed rates, the award-winning ING Fixed Rate (Orange Advantage) home loan certainly has them. It comes with an impressively low 2.09% 2 year fixed rate (3.77% comparison rate*) and a competitive 2.14% 3 year fixed rate (3.62% comparison rate*). Plus, this loan took out a 2020 Mozo Experts Choice Award^ for best Fixed Rate Home Loan. And if you’re after more, ING charges no ongoing fees and borrowers can make free extra repayments (up to $10,000 per year). Just bear in mind, there is no redraw facility so you cannot access your additional contributions later on if you need to.
*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 the amount and term you entered.
**Initial monthly repayment figures are estimates only, based on the advertised rate, and a loan of $500,000 repaid over 25 years. 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.