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ING Fixed Rate Loan (Owner Occupiers with Orange Advantage)

Fixed 3 year rate
2.14% p.a.
Comparison Rate*
3.62% p.a.
Service fee
$0.00
Upfront fee
$299
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Mozo editorial review ING Fixed Rate Loan (Owner Occupiers with Orange Advantage)

Last updated: 2 June 2020.

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What's hot
  • 2020 Mozo Experts Choice Award
  • 2.14% p.a. fixed three year rate (3.62% 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 2.14% 3 year fixed rate  (3.62% 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 2.14% p.a. (3.62% 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 6 June 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

  • 2.19% (3.95%*)

  • 2.09% (3.77%*)

  • 2.14% (3.62%*)

  • 2.49% (3.59%*)

  • 2.54% (3.50%*)

  • 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 customer rating
7.9/10

Based on 710 ING home loan reviews

Price
7.7/10
Features
7.1/10
Customer service
7.8/10
Convenience
7.2/10
Trust
7.8/10

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

  • 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 about 2 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 4 months ago
  • Overall 8/10
    Great bank and even better home loans!

    Moved home loan to ING 5 years ago and have never had to change. We review our options every year and have not had to change as they always have the best rates!

    Read full review

    Moved home loan to ING 5 years ago and have never had to change. We review our options every year and have not had to change as they always have the best rates!

    Price
    8/10
    Features
    9/10
    Customer service
    9/10
    Convenience
    6/10
    Trust
    9/10
    Less
    Hailey, Western Australia reviewed 6 months ago
  • Overall 10/10
    Fabulous and easy

    Very easy to use, no problem with help.

    Read full review

    Very easy to use, no problem with help.

    Price
    7/10
    Features
    7/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    8/10
    Less
    Megan, Victoria reviewed over 2 years ago
  • Overall 8/10
    Great customer service and no lines

    I definitely like the bank as they are always friendly and willing to help, most importantly don't have to deal with lines at a branch and get free ATM access to any ATM.

    Read full review

    I definitely like the bank as they are always friendly and willing to help, most importantly don't have to deal with lines at a branch and get free ATM access to any ATM.

    Price
    7/10
    Features
    8/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    7/10
    Less
    Kruz, New South Wales reviewed over 5 years 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.