Got my loan with ING through MYRATE. Worst decision I’ve ever made and have been paying very high interest rates for years. They only give good rates to new customers and they won’t drop their customers interest rate if they know you can’t go anywhere else because of low equity. All my other banks have automatically dropped interest rates through out the years. But not ING or MYRATE
ING are a great bank to deal with. Competitive rates, great customer service and great products. Only downfall is that their only outlet is in Sydney's CBD but because everything can be done online or over the phone, you don't need to physically go into the bank. Post office will handle deposits if required.
Like most banks ING are quick to increase interest rates when there is a cash rate change but very slow to decrease. You have to threaten to leave them in order to get a rate reduction. Customer service is good, usually don't have to wait too long when calling them and they are always friendly and helpful.
ING is okay. But the bank does not value its existing customers. For example, when the interest rate drops, it doesn’t drop our home loan until we call them up and argue for over half an hour to get the rate drop applied to our loan.
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Home loan comparisons on Mozo - rates updated daily
UHomeLoan - Discount Offer
Owner Occupier, Principal & Interest
2.59% p.a.variableApply now to get this rate from 3 Apr
*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.
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