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%

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 90%

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 investor 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 investor taking out a interest only loan between $50,000 and $2,000,000 with an LVR below 80%

Choose the version of this loan that suits you best

  • Owner Occupier (Principal & Interest)

    LVR 90%-95%

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

  • Owner Occupier (Principal & Interest)

    LVR 80%-90%

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

  • Owner Occupier (Principal & Interest)

    LVR < 80%

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

  • Investor (Principal & Interest)

    LVR < 80%

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

  • Investor (Interest Only)

    LVR < 80%

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

Fixed 3 year rate
2.54% p.a.
Comparison Rate
3.72% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
2.09% p.a.
Comparison Rate
3.61% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
1.99% p.a.
Comparison Rate
3.59% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
2.34% p.a.
Comparison Rate
4.16% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
2.54% p.a.
Comparison Rate
4.65% p.a.
Service fee
$0.00
Upfront fee
$798

Mozo editorial review ING Fixed Rate Loan - last updated: 26 May 2021

3.5 / 5
binocular icon
What's hot
  • Low 1.99% (3.59% comp rate*) fixed rate for 3 years
  • No ongoing fees
What's not
  • No redraw or repayment holidays
Mozo snapshot

The ING Fixed Rate Loan is available for borrowers that want to lock in a rate for 1 - 5 years, with no ongoing fees. Plus, it also comes with the flexibility of an extra repayments facility and free redraws up to $10,000 p.a. And if you're an ING customer with an Orange Everyday Transaction Account, not only will you benefit from lower rates, but you can use the Everyday Round Up feature to chip away at your mortgage balance without lifting a finger.

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Key features

Whether you want rate certainty for a short period or you want to lock in for a longer period the ING Fixed Rate Loan is worth considering. 

For owner occupiers with a 20% deposit or more the 1 year rate starts from 2.14% (3.94% comparison rates*), the 2 year rate starts from an even low 1.94% (3.74% comparison rate*) and the 3 year rate is 1.99% (3.59% comparison rate*). If you are looking at locking in for longer, the 4 year rate is 2.44% (3.58% comparison rate*) and if you want to lock away for 5 years the rate is 2.59% (3.52% comparison rate*). 

Plus, if you're an ING customer with an Orange Everyday Transaction Account, you'll knock 0.10% off each of those rates. Not too shabby! The rate for investor loans are a little higher, but still very competitive.

With the ING Fixed Rate Loan, you can borrow up to $2 million and up to 95% of the property's value (80% for investors). You can also have your choice between monthly or fortnightly loan repayments. 

Because you have locked in your rate for a set period your repayments won't change but if you do find yourself with some spare cash or a lump sum you can make extra repayments with the Fixed Rate Home Loan up to $10,000 p.a. The only downside to this is that any extra repayments can't be redrawn so only do this if you know you're not going to need the money at a later point in the fixed loan period.

You can also link this loan up to your ING Orange Everyday Transaction Account and use the Everyday Roundup feature, which rounds your daily purchases to the nearest $1 or $5, then puts that spare change towards paying down your mortgage.

There are a couple of fees to be aware of with this one though - make sure you budget for the $499 application fee and $299 settlement fee.

snapshot
Who is it good for

If you want the certainty of knowing what your home loan repayments will be for the next 1 to 5 years, but still want a bit of flexibility to pay your loan down faster to save, then make sure you check out the ING Fixed Rate Home Loan.

question icon
Any catches

There is an optional rate lock in feature with the fixed rate loan which comes with the pricetag of $749. This means that you can protect yourself from the rate rising between when you apply and when you settle the loan. A great feature worth paying for when rates are increasing but not so when rates are steady or likely to drop.  

Picture of Niko Iliakis
Niko Iliakis
Money writer

Niko Iliakis is a finance journalist at Mozo specialising in home loans, property and interest rate movements. With an eye for facts and figures, Niko deep-dives into topics to help readers understand key info and make more informed financial decisions. He is ASIC RG146 (Tier 2) certified for general advice.

Details

Rates and fees information correct as at 26 September 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

2.69% (3.99%*)

2.49% (3.84%*)

2.54% (3.72%*)

2.99% (3.76%*)

3.14% (3.74%*)

n/a

n/a

4.10% p.a.

Fees

$499.00

$0.00

$0.00

$299.00

n/a

$0.00

$250.00

Other financial bits

$50,000

$2,000,000

90.00%

95.00%

Features

Fortnightly, Monthly

yes - free up to $10,000 pa

none

no

none

yes

no

none

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 26 September 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

2.24% (3.95%*)

2.04% (3.76%*)

2.09% (3.61%*)

2.54% (3.61%*)

2.69% (3.56%*)

n/a

n/a

4.10% p.a.

Fees

$499.00

$0.00

$0.00

$299.00

n/a

$0.00

$250.00

Other financial bits

$50,000

$2,000,000

80.00%

90.00%

Features

Fortnightly, Monthly

yes - free up to $10,000 pa

none

no

none

yes

no

none

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 26 September 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

2.14% (3.94%*)

1.94% (3.74%*)

1.99% (3.59%*)

2.44% (3.58%*)

2.59% (3.52%*)

n/a

n/a

4.10% p.a.

Fees

$499.00

$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

none

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.

Receive $3,000 cashback when you refinance your home loan from another lender, apply by 31 Dec 2021, settle by 31 March 2022, and open an Orange Everyday account within 70 days. Minimum amount of $500,000 and LVR less than or equal to 80%.

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 26 September 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

2.34% (4.56%*)

2.34% (4.35%*)

2.34% (4.16%*)

2.64% (4.08%*)

2.64% (3.93%*)

n/a

n/a

4.77% p.a.

Fees

$499.00

$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

none

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.

Receive $3,000 cashback when you refinance your home loan from another lender, apply by 31 Dec 2021, settle by 31 March 2022, and open an Orange Everyday account within 70 days. Minimum amount of $500,000 and LVR less than or equal to 80%.

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 26 September 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

2.54% (4.96%*)

2.54% (4.80%*)

2.54% (4.65%*)

2.94% (4.60%*)

2.94% (4.49%*)

n/a

n/a

5.12% p.a.

Fees

$499.00

$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

none

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.

Receive $3,000 cashback when you refinance your home loan from another lender, apply by 31 Dec 2021, settle by 31 March 2022, and open an Orange Everyday account within 70 days. Minimum amount of $500,000 and LVR less than or equal to 80%.

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.

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Based on 750 ING home loan reviews

Latest reviews of ING Fixed Rate Loan Home Loan

About ING

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.