Your selected home loans
ING is notable for having some of the best savings accounts in Australia, but it also offers home loans to home buyers, refinancers and investors. It has three options for borrowers: the no-frills Mortgage Simplifier and the Orange Advantage for those who want an offset account – both on a variable rate. There’s also the Fixed Rate Home Loan with terms ranging from one to five years.
Trusted bank with strong variable interest rates
Unlimited extra repayments at no cost
No monthly or annual fees
Everyday Round Up feature
Lowest rate applies for LVR of 80% or less
Settlement, discharge and variation fees apply
No offset account
ING’s Mortgage Simplifier is a basic home loan that gives you the confidence of being with an established bank, while also offering interest rates that undercut what’s available from the Big Four.
Borrowers with a loan-to-value ratio (LVR) of 80% or less can access a variable rate of 6.14% p.a., which puts it significantly below the average variable of 6.75% p.a. in the Mozo database (as at 15 October, 2024).
While we like ING’s competitive rates, the lender would be more compelling if it also rewarded borrowers with a lower LVR by giving them a better interest rate. For now, ING doesn’t offer tiered interest rates based on your loan-to-value ratio, so those with an LVR of less than 70%, 60% or 50% will get the same rate as those with an LVR of 80% or less.
ING’s Mortgage Simplifier does allow for unlimited extra repayments at no cost, which could help you pay off your home loan faster and spend less on interest over time. For added peace of mind, any extra repayments you do make can be taken out from your home loan redraw at no cost to you.
For those looking for smaller ways to pay down their home loan, ING’s Mortgage Simplifier comes with a neat feature called Everyday Round Up. It works by rounding up purchases made using your linked ING bank card (to the nearest $1 or $5) and putting that amount towards your home loan.
Your selected home loans
ING is a great bank that has really good benefits such as good interstate rates and adding additional money to your mortgage repayments at no cost.
Does all the things a bank should do but could be more proactive in reaching out to customers nearing the end of their home loan term.
Good saving account options. Home loan rates are competitive but could be better.
ING have competitive rates and everything can be handled online or on the phone. Very friendly customer service located here in Australia.
When you have an issue. They ignore messages. They will send out a standard non personalised message to say will attend to issue within 1-2 days. Then they don’t. You will not hear from them. Customer service is terrible. Would not recommend.
Excellent service. Value for money
everything was easy to signing up and working with the bank for loans
We switched our home loan from CBA to ING a few years ago when they offered us a competitive rate and we haven't looked back! ING continue to deliver a great rate, are easy to deal with, and the loan offers all the features we need (including an offset and redraw facility). We do pay an annual fee of $395 but also find this to be competitive with other banks. Highly recommend ING for your home loan!
I'd like if they proactively offer rate reduction on my home loan rather than needing me to ask for one. The ING App is really responsive and easy to use
Only bad point is when you have less than 100k owing on a home loan the interest rates amalgamation are higher. That's unfair to loyal customers
Here’s our tips for getting the most out of an ING home loan:
ING is a wholly owned subsidiary of ING Group, and it has been operating in Australia since 1999.
ING doesn’t have any customer branches in Australia, but you are able to speak to customer representatives in-person at the ING Lounge at 60 Margaret Street, Sydney.
Yes, ING has been licensed by the Australian Prudential Regulatory Authority (APRA) since 1994, which guarantees savings balances of up to $250,000 per customer.
ING allows you to make fortnightly or monthly repayments, provided you’re paying off your home loan with principal and interest. If you’ve switched to interest only, your repayments must be made monthly.
You can make extra repayments at any time on an ING home loan. Those on a variable rate can make unlimited additional repayments without paying a fee, while those on ING’s fixed rate home loan have extra payments capped at $10,000 for each fixed year.
A repayment holiday is when your lender pauses your home loan repayments for a set period of time. ING offers repayment holidays to borrowers who are experiencing financial hardship and are able to provide supporting documentation.
To apply for financial support, you can log in to ING’s internet banking, email the financial support team or call 1300 349 166. Visit the website for more information.
* 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.
** Initial monthly repayment figures are estimates only, based on the advertised rate. You can change the loan amount and term in the input boxes at the top of this table. Rates, fees and charges and therefore the total cost of the loan may vary depending on your loan amount, loan term, and credit history. Actual repayments will depend on your individual circumstances and interest rate changes.
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