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ING Fixed Rate Loan

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 95%

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 < 95%

    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
2.44% p.a.
Comparison Rate
3.70% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
2.49% p.a.
Comparison Rate
4.20% p.a.
Service fee
$0.00
Upfront fee
$798
Fixed 3 year rate
2.69% p.a.
Comparison Rate
4.68% p.a.
Service fee
$0.00
Upfront fee
$798

Mozo editorial review ING Fixed Rate Loan

Last updated: 22 October 2020.

binocular icon
What's hot
  • Low 2.44% (3.70% 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 icon
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 rate is 2.44% (3.97% comparison rates*), the 2 year rate is a low 2.29% (2.80% comparison rate*) and the 3 year rate is 2.44% (3.70% comparison rate*). If you are looking at locking in for longer, the 4 year rate is 2.69% (3.66% comparison rate*) and if you want to lock away for 5 years the rate is 2.69% (3.56% 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.

snapshot
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 30 October 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

  • 2.44% (3.97%*)

  • 2.29% (3.80%*)

  • 2.44% (3.70%*)

  • 2.69% (3.66%*)

  • 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

  • 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.

  • 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 30 October 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

  • 3.09% (4.64%*)

  • 2.49% (4.38%*)

  • 2.49% (4.20%*)

  • 3.14% (4.26%*)

  • 3.44% (4.25%*)

  • 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.

  • 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 30 October 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

  • 3.29% (5.01%*)

  • 2.69% (4.82%*)

  • 2.69% (4.68%*)

  • 3.39% (4.71%*)

  • 3.64% (4.69%*)

  • 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.

  • 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 730 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

  • Overall 9/10
    Brilliant - would definitely recommend IMG!

    Brillian, I have contacted customer service a number of times and they have been very helpful. Rates are competitive much better than the big 4 banks.

    Read full review

    Brillian, I have contacted customer service a number of times and they have been very helpful. Rates are competitive much better than the big 4 banks.

    Price
    8/10
    Features
    7/10
    Customer service
    7/10
    Convenience
    7/10
    Trust
    9/10
    Less
    Anne, Victoria reviewed 21 days ago
  • Overall 7/10
    Fast and efficient.

    I was surprised to see how fast and effective the team was at responding to questions/attending needs, despite the fact that ING does not have a branch anywhere. At first, I truly thought it'd be a hassle to get in touch with someone in case of emergency, but they have proved to be way more fast and efficient than any other bank I used to work with.

    Read full review

    I was surprised to see how fast and effective the team was at responding to questions/attending needs, despite the fact that ING does not have a branch anywhere. At first, I truly thought it'd be a hassle to get in touch with someone in case of emergency, but they have proved to be way more fast and efficient than any other bank I used to work with.

    Price
    6/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    10/10
    Trust
    7/10
    Less
    Tiff, South Australia reviewed about 2 months ago
  • Overall 9/10
    ING... best modern banking service around.

    ING's online banking is very convenient for our modern lifestyle with no fees for using other banking ATMs. ING's home loan rates are equal to the best around and they are very approachable with great customer service, being contactable 24 hours a day for most if not all services. Very happy with ING.

    Read full review

    ING's online banking is very convenient for our modern lifestyle with no fees for using other banking ATMs. ING's home loan rates are equal to the best around and they are very approachable with great customer service, being contactable 24 hours a day for most if not all services. Very happy with ING.

    Price
    9/10
    Features
    9/10
    Customer service
    10/10
    Convenience
    9/10
    Trust
    9/10
    Less
    Stephen, Victoria reviewed 2 months ago
  • Overall 8/10
    Everything on ING you need.

    I am pleased with them, particularly the lack of ATM fees. They are very good if you have any problems. We switched earlier this year to lower interest rate. Still not as low as we would like. They are always courteous and willing to help. Mapping on website easy to get around

    Read full review

    I am pleased with them, particularly the lack of ATM fees. They are very good if you have any problems. We switched earlier this year to lower interest rate. Still not as low as we would like. They are always courteous and willing to help. Mapping on website easy to get around

    Price
    7/10
    Features
    7/10
    Customer service
    8/10
    Convenience
    9/10
    Trust
    8/10
    Less
    Debra, Victoria reviewed 2 months ago
  • Overall 10/10
    Excellent customer service, honest and trustworthy

    ING has provided excellent service to us with their Home Loan. They treat their customers as people and are always willing to help and rectify any problems. They are caring especially in times of hardship and Taylor your account to fit your needs. I can not recommend them highly enough.

    Read full review

    ING has provided excellent service to us with their Home Loan. They treat their customers as people and are always willing to help and rectify any problems. They are caring especially in times of hardship and Taylor your account to fit your needs. I can not recommend them highly enough.

    Price
    10/10
    Features
    -1/10
    Customer service
    10/10
    Convenience
    10/10
    Trust
    10/10
    Less
    Moira, South Australia reviewed 6 months 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.