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ING Fixed Rate Loan (Owner Occupiers with Orange Advantage)

Fixed 3 year rate
2.34% p.a.
Comparison Rate*
3.67% p.a.
Service fee
$0.00
Upfront fee
$299

Mozo editorial review ING Fixed Rate Loan (Owner Occupiers with Orange Advantage)

Last updated: 19 June 2020.

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What's hot
  • 2020 Mozo Experts Choice Award
  • 2.34% p.a. fixed three year rate (3.67% comparison rate)
  • Free additional repayments (up to $10,000 per settlement anniversary)
  • No ongoing fees
What's not
  • No repayment holidays
Mozo snapshot

For those looking for the security that comes with locking in a favourable home loan rate, the 2020 Mozo Experts Choice Award winning ING Fixed Rate Loan is a real contender. It offers a seriously competitive 2.34% 3 year fixed rate  (3.67% comparison rate), scratches ongoing transaction fees, and provides further benefits when combined with an ING Orange Everyday transaction account or Orange Advantage variable home loan. 

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Key features

The ING Fixed Rate Loan (Owner Occupiers with Orange Advantage) can be taken out on loans of $50,000 up to $2,000,000. You can choose fixed rate periods of between 1 - 5 years, but the interest rates vary depending on the loan term. The most competitive rate is the three year rate at 2.34% p.a. (3.67% comparison rate). See product details panel below for other terms.

There are no upfront or ongoing fees, and customers can make extra repayments of up to $10,000 p.a. without incurring any costs. However, there isn’t a redraw facility for this home loan, meaning you won’t be able to tap into those extra repayments if you need the funds down the track. 

This loan must be combined with an Orange Everyday variable home loan, but the duality provides a discount of 0.10% on the advertised fixed rate. More bonus fun comes along with the linked Orange Everyday transaction account. You’ll receive all the standard benefits of the product (free ATMs across the country and rebates on ING international transactions and ATM use) plus the everyday roundup feature, which brings all your account transactions to the nearest $1 or $5 and transfers the leftovers to your home loan balance for extra micro repayments.

Repayments can be made fortnightly or monthly, so you’ve got some flexibility around when you’re parting with your hard-earned cash. With each repayment, you’ll be chipping away at the loan principal, as interest-only repayments are not currently available on any of ING's owner occupied fixed rate loans. At the end of the fixed rate period, you’ll be rolled over to the ING Orange Advantage variable home loan, so be sure to shop around and make sure this is the most competitive rate and convenient loan for your circumstances.

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Who is it good for

The ING Fixed Rate Loan is made for any prospective homeowners looking to lock in a rate and be sure about their regular repayment schedule, with some flexibility to make extra contributions.

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Any catches

You can lock in your fixed rate up to 90 days prior to your loan settlement to avoid rising interest rates, but a one-off fee of $749 applies. It could be a quick save if rates are in flux while your loan is being processed.

Details

Rates and fees information correct as at 20 October 2020. Mozo has robust processes to ensure our site is updated to reflect the latest information from providers. There may be the odd occasion where updates are delayed, so please confirm information before purchasing.
Rates
  • n/a

  • n/a

  • n/a

  • n/a

  • 2.34% (3.96%*)

  • 2.19% (3.79%*)

  • 2.34% (3.67%*)

  • 2.59% (3.63%*)

  • 2.59% (3.52%*)

  • n/a

  • n/a

  • 4.10% p.a.

Fees
  • $0.00

  • $0.00

  • $0.00

  • $299.00

  • n/a

  • $0.00

  • $250.00

Other financial bits
  • $50,000

  • $2,000,000

  • none

  • 95.00%

Features
  • Fortnightly, Monthly

  • yes - free up to $10,000 pa

  • none

  • no

  • none

  • yes

  • no

  • Must be combined with an Orange Advantage variable home loan.

  • Everyday round up available, a feature that automatically rounds purchases made on INGs Orange Everyday transaction account to the nearest $1 or $5 and transfers the difference against your loan balance.

  • none

*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.

Customer Reviews

How are ING home loans rated by the Mozo community?

Overall
7.8/10

Based on 726 ING home loan reviews

Price
7.7/10
Features
7.1/10
Customer service
7.7/10
Convenience
7.2/10
Trust
7.7/10

Latest reviews of ING Fixed Rate Loan (Owner Occupiers with Orange Advantage)

  • Overall 10/10
    ING offers competitive rates and easy to use app.

    ING have a very competitive offering, and their app is easy to use and lets you set up multiple accounts as well.

    Read full review

    ING have a very competitive offering, and their app is easy to use and lets you set up multiple accounts as well.

    Price
    10/10
    Features
    6/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Daria, New South Wales reviewed about 2 months ago
  • Overall 1/10
    Don’t do it.

    Being a longstanding banking customer and after being conditionally approved for a mortgage to suck us in, ING ran us around and then let us down on finance. This meant we missed our finance deadline finding out a day before the clause was due. After being told everything was good right up till then we have been quite upset. According to a broker I found out after that they are assessing you at at much higher rates. (Something like 8% compared to 5.5% at the other banks). Poor communication, lack of understanding for clients position has taken me from a strong promoter of ING to a major detractor and I would not recommend anyone deal with them.

    Read full review

    Being a longstanding banking customer and after being conditionally approved for a mortgage to suck us in, ING ran us around and then let us down on finance. This meant we missed our finance deadline finding out a day before the clause was due. After being told everything was good right up till then we have been quite upset. According to a broker I found out after that they are assessing you at at much higher rates. (Something like 8% compared to 5.5% at the other banks). Poor communication, lack of understanding for clients position has taken me from a strong promoter of ING to a major detractor and I would not recommend anyone deal with them.

    Price
    1/10
    Features
    1/10
    Customer service
    1/10
    Convenience
    1/10
    Trust
    1/10
    Less
    David, New South Wales reviewed about 2 months ago
  • Overall 1/10
    Unethical and un-compassionate.

    Horrible! Would give 0 stars if I could. Uncompassionate and uncaring. Long term loyal customer and have never missed a payment. However I am completely dissatisfied with the actions of this global "caring" bank". Given the current economy and challenges we are all facing, it is amazing no compassion is shown. Every financial institution is fighting for our business offering competitive home loans both in the fixed and variable options. This bank is not willing to look at any flexibility in the fixed home rate even though I'm getting charged close to 4% and some institutions are offering just over 2%. Although I said I'm happy to re-enter into a new contract with ING, they still want to charge me the enormous breakout cost close to $9000 to sign up to another contract with them. WOW! Losing a customer and their network forever over $9000. That money might not be a lot for you banks but at the moment, that money goes a long way to help every day folks. Okay ING, thanks for nothing and after a couple more months, you will never have my business again and I'll be sure to share my unfortunate experience.

    Read full review

    Horrible! Would give 0 stars if I could. Uncompassionate and uncaring. Long term loyal customer and have never missed a payment. However I am completely dissatisfied with the actions of this global "caring" bank". Given the current economy and challenges we are all facing, it is amazing no compassion is shown. Every financial institution is fighting for our business offering competitive home loans both in the fixed and variable options. This bank is not willing to look at any flexibility in the fixed home rate even though I'm getting charged close to 4% and some institutions are offering just over 2%. Although I said I'm happy to re-enter into a new contract with ING, they still want to charge me the enormous breakout cost close to $9000 to sign up to another contract with them. WOW! Losing a customer and their network forever over $9000. That money might not be a lot for you banks but at the moment, that money goes a long way to help every day folks. Okay ING, thanks for nothing and after a couple more months, you will never have my business again and I'll be sure to share my unfortunate experience.

    Price
    2/10
    Features
    2/10
    Customer service
    2/10
    Convenience
    2/10
    Trust
    1/10
    Less
    Michael, New South Wales reviewed 3 months ago
  • Overall 8/10
    Good bank.

    All going well so far, nearly three years in.

    Read full review

    All going well so far, nearly three years in.

    Price
    8/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    -1/10
    Trust
    8/10
    Less
    Steven, Queensland reviewed 6 months ago
  • Overall 10/10
    Would recommend ING.

    ING is an easy home loan that helps us manage our money. We love the app.

    Read full review

    ING is an easy home loan that helps us manage our money. We love the app.

    Price
    10/10
    Features
    10/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Amy, Queensland reviewed 8 months ago
ING

About ING

ING is part of the ING Group, one of the world's largest financial institutions, but it isn't like other banks. ING pioneered branch-less banking in Australia, getting rid of branches and passing on the savings to customers in the form of better rates and lower fees. From high interest savings accounts and term deposits to low rate home loans, ING aims to keep your banking simple.

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*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.