ING Home Loans Rates & Fees Comparison

Rates and fees last updated on

You could get a competitive home loan from ING

Since 1999, ING has been offering Australians a broad selection of home loans, transactions and savings accounts, superannuation options and business products.ING_LOGO+TAGLINE_COLOUR_RGB

ING is an online lender, meaning it doesn't have physical branches like traditional lenders. The lack of branches means ING can deliver lower rates to its customers by saving on overheads. Furthermore, the bank offers a simple application process. Mortgage specialists are available online to handle your queries and requests. Alternatively, you can pick up the phone and speak to a consultant to arrange an appointment.

Compare ING home loans

Rates last updated October 17th, 2017
$
Loan purpose
Offset account
Loan type
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Name Product Interest Rate (p.a.) Comp Rate^ (p.a.) Application Fee Ongoing Fees Max LVR Monthly Payment Short Description
3.69%
4.01%
$0
$299 p.a.
95%
A loan with no application fee and borrow up to 95% LVR.
3.79%
4.11%
$0
$299 p.a.
80%
A fully featured home loan with an offset account and discounts available.
3.94%
3.96%
$0
$0 p.a.
80%
A Simplifier Home Loan with no application fee or ongoing fee.
4.75%
5.05%
$0
$299 p.a.
95%
Pay no upfront fees and enjoy a 100% offset account.
4.04%
4.60%
$0
$299 p.a.
95%
Choose to split your 2 year fixed rate loan with the Orange Advantage Variable to receive this discounted rate and pay no application fee.
3.97%
4.29%
$0
$299 p.a.
90%
A fully featured home loan with an offset account and discounts available.
3.79%
4.48%
$0
$299 p.a.
95%
A low 3-year fixed rate with no ongoing fees.
4.29%
4.31%
$0
$0 p.a.
80%
Pay the one-off 'Smart Pack' fee and receive a discount for the life of the loan.
4.75%
5.05%
$0
$299 p.a.
90%
A fully featured home loan with an offset account and discounts available.
4.19%
4.21%
$0
$0 p.a.
90%
Pay the one-off 'Smart Pack' fee and receive a discount for the life of the loan.
4.95%
4.97%
$0
$0 p.a.
80%
Pay the one-off 'Smart Pack' fee and receive a discount for the life of the loan.
4.34%
4.60%
$0
$299 p.a.
95%
A competitive fixed rate offered for four years.
4.14%
4.62%
$499
$0 p.a.
95%
A competitive fixed rate offered for two years.
3.89%
4.51%
$499
$0 p.a.
95%
Lock in a fixed rate for three years and enjoy make up to $10,000 in additional repayments.
4.19%
4.68%
$499
$0 p.a.
95%
Lock in a rate for one year and enjoy additional repayment options.
5.05%
5.07%
$0
$0 p.a.
95%
A Simplifier Home Loan with no application fee or ongoing fee.
4.29%
4.56%
$499
$0 p.a.
95%
A fixed rate with rate lock and additional repayment options.
4.44%
4.64%
$499
$0 p.a.
95%
A competitive fixed rate with $0 ongoing fee.
4.19%
4.51%
$0
$299 p.a.
95%
4.24%
5.55%
$499
$0 p.a.
95%
4.70%
4.72%
$0
$0 p.a.
95%
A Simplifier Home Loan with no application fee or ongoing fee.
4.09%
4.67%
$0
$299 p.a.
95%
4.39%
5.34%
$499
$0 p.a.
95%
Enjoy a competitive 3-year fixed rate with no ongoing fees.
4.14%
4.45%
$0
$299 p.a.
80%
A fully featured home loan with an offset account and discounts available.
3.84%
3.86%
$0
$0 p.a.
95%
A Simplifier Home Loan with no application fee or ongoing fee.
4.84%
4.80%
$0
$0 p.a.
80%
A Simplifier Home Loan with no application fee or ongoing fee.
4.19%
4.21%
$0
$0 p.a.
90%
A Simplifier Home Loan with no application fee or ongoing fee.
3.64%
3.96%
$0
$299 p.a.
80%
A loan with no application fee and borrow up to 95% LVR.
3.79%
3.81%
$0
$0 p.a.
95%
A Simplifier Home Loan with no application fee or ongoing fee.
4.69%
5.00%
$0
$299 p.a.
80%
A loan with no application fee.
4.69%
4.71%
$0
$0 p.a.
80%
A Simplifier Home Loan with no application fee or ongoing fee.
4.70%
4.72%
$0
$0 p.a.
95%
A Simplifier Home Loan with no application fee or ongoing fee.
3.97%
4.29%
$0
$299 p.a.
90%
A loan with no application fee and borrow up to 90% LVR.
4.54%
4.85%
$0
$299 p.a.
80%
A loan with no application fee and borrow up to 80% LVR.

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Things to consider about ING

ING has a range of products that are aimed towards different segments of the market. Whatever your goals as a potential borrower, ING could have a loan to suit your needs. It offers loans for first home buyers, investors, those looking to refinance, and borrowers who want to consolidate their debts.

  • Maximum LVR: The loan-to-value ratio (LVR) refers to the percentage of the value of the property you want to borrow. ING can lend up to 95% of the value of the property you wish to buy with some of their loans. The remaining products carry a maximum LVR of 80%.
  • 100% Offset accounts: This is a transaction account linked to your home loan. The funds you have in your offset account are deducted from the principal of the loan. Interest is calculated on the reduced principal loan size.
  • Interest-only options: Interest-only loans are well-suited to investors or those building a home. Paying only the interest portion of your loan brings the cost down during the crucial construction phase, or if you plan to buy an investment property and sell it soon after.
  • Split loans: Some ING loans allow you to split the loan into fixed and variable rate portions. When you split your loan, the fixed rate portion will protect you in times when interest rates rise, and the variable rate portion will mean you get the most out of rate cuts.
  • Unlimited free redraws: You can make additional repayments on some ING loans. If you happen to need some of these extra repayments, you can access them again through the online platform or via the telephone banking system.
  • Interest rate discounts: Some ING loans offer discounts off the interest rate of the loan if certain conditions are met - including borrowing over a certain amount and having a certain loan-to-value ratio (LVR).

Comparing ING home loans

ING offers six different loans which suit different purposes. Each comes with different features and benefits:

Orange Advantage Home Loan

The Orange Advantage Home Loan from ING is a full-featured home loan that offers plenty of flexibility along with a low interest rate. It is suited to borrowers looking to buy a home or refinance their existing loan. This loan is not available to people renovating or building a new home.

The product offers a 100% offset account via the Orange Everyday account. This allows borrowers to directly deposit salary, pay bills and expenses via direct debit and use the account to manage their mortgage. The offset account also reduces the amount of interest paid on the home loan.

Repayments can be made fortnightly or monthly for principal and interest repayments, while interest-only repayments must be made monthly.

ING will provide further discounts for loan-to-value ratios below 80%.

About the ING Orange Advantage loan

Mortgage Simplifier

The Mortgage Simplifier is a basic variable rate home loan with no monthly or annual fees available to owner-occupiers with borrowings of more than $150,000. Further interest rate discounts may be applied depending on the loan-to-value ratio that you will be borrowing.

About the ING Mortgage Simplifier

Fixed Rate Home Loan

Fixed rate loans are ideal for any borrower wanting to avoid an increase in lending rates. During the fixed term, you'll have the certainty of being able to plan your mortgage budget down to the cent.

ING's fixed rate home loans offer the ability to make extra repayments up to $10,000 per year. Keep in mind that the redraw facility on your home loan won't be available until after the fixed term ends. There is also an interest-only option on ING's fixed home loans.

Remember that break fees may apply if you repay your mortgage before the fixed term has ended. This usually occurs when you sell your home or refinance over to a different lender. You can avoid paying break fees by considering a shorter fixed term if you already know you intend to sell your home. You may also want to consider waiting until your fixed rate has ended before you refinance.

About the ING Fixed Rate Home Loan

Split rate home loans

If you don't wish to lock in your entire mortgage, you can choose to split your loan. This lets you lock in a portion of your mortgage and take advantage of stable repayments over the fixed term. At the same time, the variable portion lets you take advantage of the features only available to variable rate borrowers. By splitting your loan you get to hedge your bets against negative rate movements while also taking advantage of the variable rate loan features. A split fee may apply.

ING also previously offered the Smart Home Loan, Action Equity Home Loan and the Construction Home Loan but these are no longer offered to new customers.

What do I do if I'm interested in an ING product?

If there is a particular product you are interested in you can click through to the products review page to find out more or place an enquiry about the product with a home loan expert.

Each ING home loan product will have its own unique qualifying criteria, however, there are some basics that will apply to all, which include the following.

  • Age. You must be over 18 years of age.
  • Residency. You should be a resident of Australia.
  • Employment. You should have a regular source of income.

During the application process for any home loans product from ING you will also be asked to provide certain information so it can be handy to have them ready before you apply. Some of these details include:

  • Personal. This includes details like your name, date of birth, phone number, email address and address.
  • Financial. This includes information surrounding all your assets and liabilities.
  • Employment. Be ready to give your employer’s name and contact information.

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This page was last modified on 30 September 2017 at 7:39am.

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10 Responses

  1. Default Gravatar
    JodiAugust 2, 2014

    I have just renewed my fixed home loan for 2 more years, what is the fee amount for breaking my contract if I sell my house?

    • Staff
      ShirleyAugust 4, 2014Staff

      Hi Jodi,

      Please contact ING Direct for an exact quote regarding your break costs.

      It is generally calculated using the following formula: The amount of principal remaining x the remaining term of the fixed interest period x the movement in ING Direct’s cost of funds.

      Cheers,
      Shirley

  2. Default Gravatar
    barbaraJune 16, 2014

    I have been with ING for many years, love the savings account. Just wondering whether I would be eligible for a home loan based on the fact that I own a unit in Sydney ( Naremburn ) which is now valued at approx $600,000. I am currently studying and no longer earning an income as such, but have an allocated pansion from my super of $763.00 per fortnight.Also receive a very small amount from Centrelink as Austudy. Would love to hear whether I have any options. Kindest Regards, Barbara

    • Staff
      MarcJune 17, 2014Staff

      Hi Barbara,
      thanks for the question.

      Unfortunately ING DIRECT has their own unique lending criteria which is kept under wraps as is the case with every other bank and lender. I’d suggest contacting ING DIRECT directly to discuss your options with them rather than make an online application on online, as this will give you an opportunity to discuss your options in relation to your assets and income considerations. For more tips consult our guide on pensioners and home loans.

      I hope this helps,
      Marc.

  3. Default Gravatar
    AdamSeptember 17, 2013

    I would like to refinance my loan to make rennovations and to have it ready for a head lease for two years at $450 a week?

    • Default Gravatar
      nadhemJune 15, 2014

      Hi dear sir. I have 80,000 cash deposit to buy a house to live in it.

    • Staff
      ShirleyJune 16, 2014Staff

      Hi Nadhem,

      Thanks for your question.

      You compare home loans on this page to find the one that best suits you. Alternatively, you could speak to a mortgage broker.

      Our borrowing power calculator can also help along with our FHB guide.

      Cheers,
      Shirley

    • Staff
      ShirleySeptember 18, 2013Staff

      Hi Adam,

      Thanks for your comment.

      Directly enquiring with ING DIRECT will give you a better indication of what your repayments will be; you can do so by choosing the loan you would like to refinance to and click ‘enquire’ to be safely redirected to ING DIRECT.

      You can also use our repayment calculator for a rough estimate.

      Hope this helps,
      Shirley

    • Default Gravatar
      JulieOctober 19, 2013

      is there any account fee? what rate for vailable offset account? my current vailable rate is 4.98% with nab, but my fiend told me that he got better offer from your bank.
      please call me

    • Staff
      ShirleyOctober 21, 2013Staff

      Hi Julie,

      Thanks for your comment.

      The ING DIRECT Action Equity home loan doesn’t have an annual fee and there is no offset account available.

      You may want to compare our featured best home loans for a better interest rate.

      Hope this helps,
      Shirley

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