ING DIRECT Fixed Rate Home Loan

Rates and Fees verified correct on December 3rd, 2016

The ING DIRECT Fixed Rate Home Loan offers a competitive fixed rate and no ongoing fees.

The ING DIRECT Fixed Rate Home Loan can be fixed for terms of one to five years. You can save on ongoing loan fees and take advantage of a range of features to help you pay off your mortgage sooner.

Split loan special offer

Split your fixed rate loan with the ING DIRECT Orange Advantage Loan and recieve a 0.10% discount on your interest rate as well as waiving of your application fee.

Terms and conditions may apply.

Interest Rate Max Insured LVR Max LVR
1 Year Fixed Rate (Investors)
4.19% p.a.
Comparison Rate
4.54% p.a.
95% 80%
1 Year Fixed Rate (Owner occupiers)
4.09% p.a.
Comparison Rate
4.53% p.a.
95% 80%
1 Year Fixed Rate (Owner Occupier Special Offer)
3.99% p.a.
Comparison Rate
4.52% p.a.
95% 80%
2 Year Fixed Rate (Owner occupiers)
4.04% p.a.
Comparison Rate
4.48% p.a.
95% 80%
2 Year Fixed Rate (Investors)
4.04% p.a.
Comparison Rate
4.48% p.a.
95% 80%
2 Year Fixed Rate (Owner Occupier Special Offer)
3.94% p.a.
Comparison Rate
4.46% p.a.
95% 80%
3 Year Fixed Rate (Owner occupiers)
3.99% p.a.
Comparison Rate
4.43% p.a.
95% 80%
3 Year Fixed Rate (Owner Occupier Special Offer)
3.89% p.a.
Comparison Rate
4.40% p.a.
95% 80%
3 Year Fixed Rate (Investors)
3.99% p.a.
Comparison Rate
4.43% p.a.
95% 80%
4 Year Fixed Rate (Owner Occupier Special Offer)
4.29% p.a.
Comparison Rate
4.49% p.a.
95% 80%
4 Year Fixed Rate (Owner occupiers)
4.39% p.a.
Comparison Rate
4.52% p.a.
95% 80%
4 Year Fixed Rate (Investors)
4.39% p.a.
Comparison Rate
4.52% p.a.
95% 80%
5 Year Fixed Rate (Owner occupiers)
4.29% p.a.
Comparison Rate
4.47% p.a.
95% 80%
5 Year Fixed Rate (Investors)
4.29% p.a.
Comparison Rate
4.47% p.a.
95% 80%
5 Year Fixed Rate (Owner Occupier Special Offer)
4.19% p.a.
Comparison Rate
4.43% p.a.
95% 80%
Product NameING DIRECT Fixed Rate Home Loan
Interest Rate TypeFixed
Comp Rate^ (p.a.)
Maximum Loan Term30 years
Maximum LVR80%
Maximum Insured LVR95%
Mortgage Offset AccountNo
Loan Redraw FacilityNo
Split Loan FacilityYes
Fixed Interest OptionYes
Loan PortableYes
Suitable for InvestmentYes
Extra RepaymentYes
Available as equity loan/line of creditNo
Repayment TypePrincipal & Interest and Interest Only Options
Application Fee$499
Lender's Legal Fee$0
Ongoing Fees$0 p.a.
Settlement Fee$299
Discharge Fee$250

Pros

  • $0 ongoing fees.
  • Make additional repayments up to $10,000 per settlement anniversary before incurring fees.
  • Option to have up to 5 years interest only repayments.

Cons

  • $499 application fee.
  • $250 discharge fee when you close out your home loan.
  • No offset account.

Things to consider about the ING DIRECT Fixed Rate Home Loan

This loan is available for owner occupiers or investors. It offers an online banking feature that helps you view your minimum monthly repayments. You can even view your next repayment date and even check or change your direct debit amount.

Features of the ING DIRECT Fixed Rate Home Loan

  • No ongoing fees. This loan has no monthly or annual fees.
  • Additional repayments. You are allowed to make up to $10,000 in additional repayments on your loan’s settlement anniversary without incurring any penalties. Repayments above this amount may incur break costs.
  • Repayment certainty. The ING DIRECT Fixed Rate home loan allows you to fix your interest rate for one to five years, giving you certainty that your home loan repayments won't change during the fixed term.
  • Interest rate discounts. You may be eligible for an interest rate discount at the end of the fixed rate period if your Fixed Rate Home Loan reverts to the variable rate Mortgage Simplifier Home Loan.
  • Free ATM withdrawals. You will be able to access funds from your account for free from ATMs across Australia with this loan.
  • Repayment frequency. You can make fortnightly or monthly repayments on your home loan.
  • Interest-only repayments. You can make interest-only repayments with this loan for up to five years.

Fees

  • Fixed rate lock-in fee. If you wish to lock the rate on your home loan using the lock-in feature, a $749 fee will apply.
  • Application fee. This loan carries an application fee of $499 which goes into covering the documentation costs of the mortgage and setting up the loan account.

How to apply for the ING DIRECT Fixed Rate Home Loan

The whole application process should take about 20-25 minutes to complete. You will have to meet the following eligibility criteria before applying for the loan:

  • Be over18 years of age at the time of application.
  • Be an Australian Citizen residing in the country.

The following information will also be required with your application:

  • Personal details. This includes your name, address and contact information.
  • Financial information. Provide information of your income, assets and liabilities.

After you’ve submitted all the necessary documentation, ING DIRECT will contact you to ensure that the home loan you have chosen is suitable for your situation.

With competitive rates and the option to fix your mortgage for up to five years, the ING DIRECT Fixed Rate Home Loan could offer a unique and cost-effective way to finance a home purchase. Learn more about what this mortgage could offer you and compare it to other home loans on finder.com.au.


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ING DIRECT Fixed Rate Home Loan Interest Rate History vs RBA Cash Rate Graph


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This page was last modified on 13 October 2016 at 16:18.

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2 Responses to ING DIRECT Fixed Rate Home Loan

  1. Default Gravatar
    Serena | November 16, 2016

    What is the difference between Maximum LVR and Maximum Insured LVR for the product ING DIRECT Fixed Rate Home Loan.

    • Staff
      Jason | November 17, 2016

      Hi Serena,

      Thank you for your enquiry.

      The maximum insured LVR is the amount that you can borrow including the cost of lenders’ mortgage insurance (LMI) into the loan while maximum LVR does not include the cost of LMI. LMI is usually charged by lenders when you borrow more than 80% of the property value.

      Cheers,
      Jason

ING DIRECT Fixed Rate Home Loan

  • Interest Rate

    N/A

  • Comparison Rate

    N/A

  • App Fee / Annual Service Fee

    $499 / $0

  • Max LVR

    80%

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