ING

ING Unsecured Personal Loan

Interest rate from

8.99% p.a.

Comparison rate from*

9.13% p.a.based on $30,000
over 5 years

Upfront fee

$100

ING Unsecured Personal Loan

Interest rate from

8.99% p.a.

Comparison rate from*

9.13% p.a.based on $30,000
over 5 years

Upfront fee

$100

Details

Details

Mozo Review ING Unsecured Personal Loan Review

Last updated: 14 November 2019.

What's hot:

Fixed 8.99% interest rate (9.13% comparison rate*)
Free extra repayments and no exit fee
2019 Mozo Experts Choice Award winner

What's not:

$100 application fee (option to have this waived)

Mozo snapshot:

If you’re after a loan that’s got no surprises or hidden nasties, then look no further than the ING Unsecured Personal Loan, winner of a 2019 Mozo Experts Choice Award for best Unsecured Personal Loan. With a fixed 8.99% interest rate (9.13% comparison rate*), you’ll always have the comfort in knowing your repayment amount. Throw in the option of making free extra repayments and a $0 exit fee and you could be looking at a winner.

Key features:

With a fixed rate of 8.99% (9.13% comparison rate*), the ING Unsecured Personal Loan could be your answer to getting that dream holiday in the Maldives. You’ll be able to borrow up to $30,000, make your repayments on a fortnightly or monthly basis and have the option to make extra repayments for free! Just keep in mind though that once you make extra repayments, that’s it, as there is no redraw facility with this loan.

And while you will have to remember the $100 upfront fee, there is an option to have it waived. All you need to do is have an active Orange Everyday account at the time of your application or open an Orange Everyday account with your personal loan. There is also a $20 late payment fee with this loan, so it's worth setting up a direct debit to make sure you never miss a payment.

Who it's good for:

The ING Unsecured Personal Loan is a good option for current ING customers who have an Orange Everyday account, or for anyone looking for a competitive bank rate.

Any catches?

While this loan doesn’t come with a monthly service or exit fee, there is a $100 upfront fee and a $20 late payment fee. So it might be worth setting up a direct debit from your bank account so you never miss a repayment.

Details

Rates

Rate types

Fixed
Rates from

8.99% p.a. fixed
Comparison rate from*

9.13% p.a.based on $30,000
over 5 years

Fees

Application fee

$100.00
Service fee

$0.00
Late payment fee

$20.00
Exit fee

$0.00
Early repayment penalty

$0

Other financial bits

Minimum loan amount

$5,000.00
Maximum loan amount

$30,000.00
Minimum loan term

2 Years
Maximum loan term

5 Years
Security types

Unsecured

Features

Repayment options

Fortnightly, Monthly
Extra repayments allowed

yes
Redraw allowed

no
Other restrictions

none
Other benefits

Establishment fee waived when you have an active Orange Everyday at the time of application or request to open an Orange Everyday account with your ING Personal Loan to receive loan funds.

*The Comparison Rate combines the lender's interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparison rates displayed are calculated based on a loan of $30,000 for a term of 5 years or a loan of $10,000 for a term of 3 years as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and an unsecured basis for unsecured loans. 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.

Customer Reviews

How are ING personal loans rated by the Mozo community?

Overall customer rating

7.7/10

Based on 6 ING personal loan reviews

Price

7.0/10

Features

6.7/10

Customer service

7.5/10

Convenience

7.3/10

Trust

7.3/10

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.

See ING personal loans

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OurMoneyMarket

Low Rate Personal Loan

interest rate

8.00% p.a.

comparison rate*

8.21% p.a.based on $30,000
over 5 years

fees

$150.00upfront and $0.00/month