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
3.54% p.a.
Comparison Rate
3.98% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
3.09% p.a.
Comparison Rate
3.86% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
2.99% p.a.
Comparison Rate
3.84% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
3.09% p.a.
Comparison Rate
4.35% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
3.29% p.a.
Comparison Rate
4.79% p.a.
Service fee
$0.00
Upfront fee
$798

Mozo editorial review ING Fixed Rate Loan - last updated: 3 December 2021

3.5 / 5
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What's hot
  • 2.99% p.a. (3.84% p.a. 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 to 5 years with no ongoing fees. Plus, you'll have the flexibility to make extra repayments up to $10,000 each year. 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. 

Terms range from 1 to 5 years, with rates as low as 2.14% p.a. (3.94% p.a. comparison rate*) available on 1-year terms and 3.29% p.a. (3.85% p.a. comparison rate*) available on 4-year terms. Plus, if you're an ING customer with an Orange Everyday Transaction Account, you'll knock 0.10% off each of those rates. 

You'll be able to borrow up to $2 million and up to 95% of a property's value (80% for investors). You can also choose between making monthly or fortnightly loan repayments. 

If find yourself with a lump sum you'd like to put towards your loan, you can make extra repayments up to $10,000 p.a. The main downside to this is that any extra repayments can't be redrawn so you'll need to be confident you won't need the money at a later point in the fixed 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 and directs that spare change towards your mortgage.

There are a few fees to be aware of with this one, namely the $499 application fee and $299 settlement fee.

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Who is it good for

If you like the idea of having set home loan repayments for the next 1 to 5 years, but still want a bit of flexibility to pay your loan down faster, then the ING Fixed Rate Home Loan could be a good fit.

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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 27 January 2022. 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%*)

3.14% (3.95%*)

3.54% (3.98%*)

3.84% (4.04%*)

4.04% (4.04%*)

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 27 January 2022. 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%*)

2.69% (3.87%*)

3.09% (3.86%*)

3.39% (3.89%*)

3.59% (3.92%*)

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 27 January 2022. 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%*)

2.59% (3.86%*)

2.99% (3.84%*)

3.29% (3.85%*)

3.49% (3.88%*)

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 March 2022, settle by 30 June 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 27 January 2022. 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%*)

2.69% (4.42%*)

3.09% (4.35%*)

3.39% (4.33%*)

3.59% (4.31%*)

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 March 2022, settle by 30 June 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 27 January 2022. 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%*)

2.89% (4.84%*)

3.29% (4.79%*)

3.59% (4.76%*)

3.79% (4.73%*)

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 March 2022, settle by 30 June 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.