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ING Fixed Rate Loan (Owner Occupiers with Orange Advantage)

Advertiser disclosure

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 80%

The details shown below are for an owner occupier taking out a principal & interest loan between $50,000 and $2,000,000 with an LVR below 95%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR < 80%

    Loan: $50,000 $2,000,000

  • Owner Occupier (Principal & Interest)

    LVR 80%-95%

    Loan: $50,000 $2,000,000

Fixed 3 year rate
2.04% p.a.
Comparison Rate
3.60% p.a.
Service fee
$0.00
Upfront fee
$299
Fixed 3 year rate
2.14% p.a.
Comparison Rate
3.62% p.a.
Service fee
$0.00
Upfront fee
$299

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

Last updated: 5 March 2021.

4.5 / 5
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What's hot
  • 2020 Mozo Experts Choice Award
  • Fixed rates from 1.99% (3.43% comparison rate*)
  • Free additional repayments (up to $10,000 p.a.)
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 (Owner Occupiers with Orange Advantage) is a real contender. It offers a number of seriously competitive rates depending on the loan period you're looking to lock in for, starting as low as 1.99% (3.43% comparison rate*), as well as a number of further benefits like the ability to make extra repayments.

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Key features

First things first, the loan must be combined with a variable Orange Advantage home loan, but that duality provides a discount of 0.10% on the advertised fixed rate. 

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 4-year rate at 1.99% (3.43% comparison rate*), but you'll be able to view all the available rates in the product details panel further down this page.

Customers can choose to make their repayments on a fortnightly or monthly basis, and they can also contribute extra repayments of up to $10,000 p.a. towards their loan balance without incurring any costs. However, there isn’t a redraw facility, meaning you won’t be able to tap into those additional repayments if you need access to them down the track. 

Borrowers can also make extra contributions towards their outstanding loan balance by linking up their home loan with an 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) but the real bonus is the everyday roundup feature, which rounds up all of your account transactions to the nearest $1 or $5 and transfers the difference to your home loan balance.

At the end of the fixed rate period you’ll be rolled over to the ING Orange Advantage variable home loan rate, so you may want to shop around at that point to make sure that it's a rate you're happy with.

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Who is it good for

The ING Fixed Rate Loan (Owner Occupiers with Orange Advantage) could be a competitive option for owner occupiers borrowers looking to lock in a low fixed rate, while also having the 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.

Picture of Tom Watson
Tom Watson
Finance journalist

Tom Watson is a financial journalist at Mozo and co-host of the Finance Burrito podcast, specialising in fintech, property and business banking. Whether it’s reporting on banking trends or uncovering the latest product innovations, Tom’s mission is to keep our readers up to date with breaking Australian financial news. His work is often sourced in the media and across social media channels. Tom has a degree in Journalism from the University of Technology, Sydney. He is also ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 8 March 2021. 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%*)

  • 2.04% (3.60%*)

  • 1.99% (3.43%*)

  • 2.19% (3.37%*)

  • 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

  • 80.00%

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.

Details

Rates and fees information correct as at 8 March 2021. 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

  • 2.29% (3.96%*)

  • 2.19% (3.79%*)

  • 2.14% (3.62%*)

  • 2.09% (3.46%*)

  • 2.29% (3.41%*)

  • 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

  • 80.00%

  • 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 743 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)

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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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