Rates and fees verified as correct at 21 January 2022. Other information correct at the time of writing. Advertiser disclosure.
|Product||Interest rate from||Comparison rate from||Upfront fee|
|Unsecured Personal Loan (Fixed)|| |
7.99% p.a.to 10.99% p.a.
8.13% p.a.to 11.14% p.a.based on $30,000
Unsecured Personal Loan
ING’s unsecured personal loan option is an award-winning loan with minimal fees and flexible repayment options. Customers can borrow between $5,000 and $60,000 with this loan and opt for a loan term between 2 and 7 years (though if you're looking for a 6 or 7 year term, your loan size will have to be over $30,000). On top of that, there is the choice between fortnightly and monthly regular repayments as well as the option to make extra repayments too. There is no redraw facility attached to this loan.
While there are no ongoing service, exit or early repayment charges to worry about, there is a one-off establishment fee to budget for. However, if you already have or apply to receive your loan funds in an Orange Everyday bank account with ING, the bank will waive this upfront cost. Our expert judges loved this personal loan option and gave ING a 2021 Mozo Experts Award for Best Unsecured Personal Loan.
Extra Repayments: For borrowers that like the option to make extra contributions towards their loan on top of their regular repayments, the ING unsecured loan offers that. At no additional cost and no limit, customers can put more money towards their loan whenever they like. Just be mindful, there is no redraw facility so borrowers can not access their extra funds later down the track.
No Early Repayment Penalty: Some lenders slap borrowers with a hefty fee for paying down a loan early, however this isn’t the case with ING. If you end up paying off your debt ahead of time, there are no additional costs to budget for.
Establishment fee waiver: Already got an ING Orange Everyday bank account? Or looking to open one when you apply for your ING personal loan? If so, ING will waive the upfront establishment fee on their unsecured personal loan offering. This means you could end up paying no fees on this loan at all.
When applying online for a ING personal loan, it can take as little as 20 minutes to complete the form. Then, once approved you could receive your funds on the same day, if you are an ING Orange Everyday account holder.
In order to apply for an ING personal loan you must satisfy the following:
Be 18 years or older (and provide identification documents to prove it)
Be an Australian citizen
Be able to provide your PAYG Payslips and employment information
For existing customers, be able to provide your ING client number
Mozo users have rated ING personal loans on price, features, convenience, trust and customer service so you can see what real Aussies have to say about their experiences.
Too bad this new credit score based personal loan. I am getting different score than with actual score. Too bad I should get 8.99 interest rate but I am getting 10.99. Very very bad.Read full review
Too bad this new credit score based personal loan. I am getting different score than with actual score. Too bad I should get 8.99 interest rate but I am getting 10.99. Very very bad.
Low interest and no sign up/establishment fees I took a personal loan to pay off high interest credit cards and they pay the debt directly to those accounts.Read full review
Low interest and no sign up/establishment fees I took a personal loan to pay off high interest credit cards and they pay the debt directly to those accounts.
The bank is all online so no over heads on in store banks. No wait times on calling, very simple phone choices and staff are very helpful, extensive knowledge and don’t push sales.Read full review
The bank is all online so no over heads on in store banks. No wait times on calling, very simple phone choices and staff are very helpful, extensive knowledge and don’t push sales.
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