ING Fixed Rate Loan

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 investor taking out a principal & interest, 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 < 95%

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

  • Investor (Principal & Interest, Interest Only)

    LVR < 80%

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

3.74% p.a.

4.65% p.a.

$0.00

ING Fixed Rate Loan

3.74% p.a.

4.65% p.a.

$0.00

4.09% p.a.

5.48% p.a.

$0.00

ING Fixed Rate Loan

4.09% p.a.

5.48% p.a.

$0.00

Mozo Review   ING Fixed Rate Loan Review

Last updated: 27 March 2019.

What's hot:
  • Low 3.93% (4.70% 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.

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 the 1 year and 2 year rates are 3.85% (4.87% and 4.77% comparison rates*), the 3 year rate is 3.93% (4.70% comparison rate*). If you are looking and locking in for longer, the 4 year rate is 4.19% (4.71% comparison rate*) and if you want to lock away for 5 years the rate is also 4.19% (4.66% 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 Loam, 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.
Who it's 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.

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.  

Details

Rates and fees information correct as at 24 April 2019. 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
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 3.85% (4.87%*)

  • 3.69% (4.74%*)

  • 3.74% (4.65%*)

  • 4.19% (4.71%*)

  • 4.09% (4.62%*)

  • (*)

  • (*)

  • 4.95% p.a.

Fees
  • $499.00

  • none

  • none

  • $299.00

  • none

  • $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

  • 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.

*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 24 April 2019. 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
  • p.a.

  • p.a.

  • 0 Months

  • none

  • 4.29% (5.83%*)

  • 4.19% (5.65%*)

  • 4.09% (5.48%*)

  • 4.59% (5.51%*)

  • 4.59% (5.41%*)

  • (*)

  • (*)

  • 5.85% p.a.

Fees
  • $499.00

  • none

  • none

  • $299.00

  • none

  • $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.

*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 676 ING home loan reviews

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

Latest reviews of ING Fixed Rate Loan

  • Overall
    8/10
    Easy to follow process

    I Like that have been able to use any ATM without fees for sometime now, the convenience of...

    I Like that have been able to use any ATM without fees for sometime now, the convenience of access to someone 24/7 and the professionalism of the bank. They are always helpful.

    Price
    9/10
    Features
    8/10
    Customer service
    10/10
    Convenience
    2/10
    Trust
    8/10

    Liz | South Australia

    reviewed about 1 year ago

  • Overall
    10/10
    Excellent bank

    Beat bank ever for me.

    Beat bank ever for me.

    Price
    8/10
    Features
    -
    Customer service
    -
    Convenience
    -
    Trust
    -

    David | New South Wales

    reviewed almost 2 years ago

  • Overall
    9/10
    Great

    They are great - the best bank I've ever used

    They are great - the best bank I've ever used

    Price
    8/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    10/10
    Trust
    9/10

    Daniel | Queensland

    reviewed about 3 years ago

  • Overall
    7/10
    Very competitive rates

    Very helpful staff. Always happy to review interest rate to keep business.

    Very helpful staff. Always happy to review interest rate to keep business.

    Price
    7/10
    Features
    6/10
    Customer service
    8/10
    Convenience
    8/10
    Trust
    8/10

    Leesa | South Australia

    reviewed about 3 years ago

  • Overall
    9/10
    Great service

    Have been with ING since 2005, nothing but positive comments! Great customer service, even...

    Have been with ING since 2005, nothing but positive comments! Great customer service, even though there is no office in SA!

    Price
    8/10
    Features
    8/10
    Customer service
    9/10
    Convenience
    8/10
    Trust
    9/10

    Martin | South Australia

    reviewed over 3 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.