ING Personal Loan
- Interest Rate (p.a.)
- 6.19% to 19.99%
- Comparison rate (p.a.)
- 7.03% to 20.78%
- Min Loan Amount
- $5,000
Summary
Secure a competitive personal loan with an interest rate in the top 20% of the market.
With a competitive interest rate that places it in the top 20% of personal loans in our database, the ING Personal Loan is a strong contender. Its application fee is also lower than many competitors.
These features help it earn a high Finder Score of 8.7 out of 10. However, borrowers should be aware of the $8 monthly fee which will add to the total cost of the loan over its lifetime.
Pros
-
No penalties for additional payments
-
Flexible repayment options
Cons
-
Late payment fee of $30
-
Once set, can't extend the loan term
Details
Product details
| Product Name | ING Personal Loan |
| Interest Rate (p.a.) | 6.19% to 19.99% |
| Comparison rate (p.a.) | 7.03% to 20.78% |
| Interest Rate Type | Fixed |
| Min Loan Amount | $5,000 |
| Max. Loan Amount | $60,000 |
| Loan Security | Unsecured |
How does ING Personal Loan compare?
- Competitive interest rate. The minimum interest rate of 6.19% p.a. is in the top 20% of personal loans we analyse.
- Lower than average application fee. The $199 application fee sits in the top half of personal loans for lower fees.
- Ongoing monthly fee. This loan has an $8 monthly fee which will add to the total cost.
ING scored in the Finder Awards
The ING Personal Loan was highly commended for Best Unsecured Personal Loan in the 2026 Finder Awards.
Full list of 2026 winnersHow does the ING personal loan work?
An ING personal loan has a fixed interest rate from 6.19% p.a. and a comparison rate from 7.03% p.a. As a fixed rate personal loan, the amount of your repayments is set is advance and will not change during the life of the loan.This personal loan is unsecured, so you will not need to offer an asset as security for the loan.
Loan amounts vary between $5,000 and $30,000 for loan terms between 2 to 5 years. Borrow up to $30,000 over 2–5 years, or more than $30,000 up to $60,000 over 2 to 7 years.
The loan application process is completely online, with existing ING customers able to apply through their Internet banking account, and new customers starting the application process by completing an online form. Once approved, loan funds will be available on the same day for existing ING customers and within two to three business days for new customers.
How to apply
If you think an ING personal loan could be the right choice for you, click "Go to Site" to begin the application process. Before you do, check the eligibility criteria and ensure you have all the info you'll need to sail through the online application.To be eligible for an ING personal loan, you must fit the following eligibility criteria:
- Be at least 18 years old
- Be an Australian citizen, New Zealand citizen or a permanent resident
- Have an Australian residential address
- Be employed and have access to your PAYG payslips
- Not be self-employed
- Earn at least $36,000 per year before tax
- Have a good credit rating
Make sure you have the following information to hand before starting the online application:
- Australian ID such as an Australian passport or driver's licence
- Proof of income, including PAYG payslips and rental income statements if applicable
- Information about your liabilities, including other loans and credit cards
- Information regarding your spending and ongoing living expenses
Features of this loan
- Fixed interest rate. No surprises or repayment variations with a fixed interest rate from 6.19% p.a., and a comparison rate of 7.03% p.a.
- Ongoing fees. There is a monthly fee of $8 and late payment fee of $30 which applies for late or missed payments.
- Loan amount and term. Borrow between $5,000 and $60,000. For loan amounts up to and including $30,000, terms are available from 2 to 5 years. For amounts above $30,000, terms are available from 2 to 7 years.
- Early repayment options. No penalties for additional payments, and no early repayment fees if you choose to pay out the loan early. You can obtain the payout figure by contacting ING, or by calculating the remaining balance of the personal loan plus interest accrued at the date of payout.
- Fast access to funds. Existing ING customers will have loan funds disbursed on the same day that the loan offer is accepted. New customers will have loan funds disbursed into their nominated external bank account between two and three business days.
- Flexible repayment options. You can make loan repayments via direct debit, either from your ING account or an external account. You can make repayments either fortnightly or monthly, and you can change the repayment account details or frequency at any time by contacting ING.
- Simplicity of online banking. Successful loan applicants will have access to online banking to review loan statements and the status of their loan at any time, including the remaining loan term and upcoming repayment dates.
An ING personal loan has several attractive features for potential borrowers. Before choosing any product, compare your options to make sure you are getting the best personal loan deal and the perfect features to suit your circumstances.
How much does an ING Personal Loan cost?
You will pay these fees
| Cost | Amount |
|---|---|
| Establishment fee | $199 |
| Ongoing fees | $8 per month |
You might pay these fees
| Cost | Amount |
|---|---|
| Exit fee | $0 |
| Late payment fee | $30 |
| Paper statement fees | $7 |
Compare other products from ING
- ING credit cards
- ING home loans
- ING savings accounts
- ING term deposits
- ING superannuation
- ING health insurance
- ING car insurance
- ING landlord insurance
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