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ING announces fixed home loan rate changes

Published on 05/03/2020

5 March 2020:  ING in Australia today announced that it will reduce interest rates on a range of new owner occupied and investor fixed rate home loans, effective from 6 March 2020.

Among the new fixed rate options is a 3 year fixed rate for owner occupied home loans with Orange Advantage (principal and interest) of 2.49% p.a. (comparison rate 3.89% p.a.).

The new fixed rates apply to loans settled on or after 6 March 2020 and are as follows:

Owner Occupied Fixed Rates with Orange Advantage (Principal & Interest)

Principal & Interest New Interest Rate (p.a.) Comparison Rate (p.a.)*
1 Year Fixed Rate 2.64% 4.22%
2 Year Fixed Rate 2.59% 4.06%
3 Year Fixed Rate 2.49% 3.89%
4 Year Fixed Rate 2.74% 3.84%
5 Year Fixed Rate 2.74% 3.73%

 

Owner Occupied Fixed Rates (Principal & Interest)

Principal & Interest New Interest Rate (p.a.) Comparison Rate (p.a.)*
1 Year Fixed Rate 2.74% 4.22%
2 Year Fixed Rate 2.69% 4.08%
3 Year Fixed Rate 2.59% 3.92%
4 Year Fixed Rate 2.84% 3.87%
5 Year Fixed Rate 2.84% 3.77%

 

Investor Fixed Rates (Principal & Interest)

Principal & Interest New Interest Rate (p.a.) Comparison Rate (p.a.)*
1 Year Fixed Rate 2.89% 4.84%
2 Year Fixed Rate 2.84% 4.64%
3 Year Fixed Rate 2.74% 4.44%
4 Year Fixed Rate 2.99% 4.36%
5 Year Fixed Rate 2.99% 4.22%

 

Investor Fixed Rates (Interest Only)

Interest Only New Interest Rate (p.a.) Comparison Rate (p.a.)*
1 Year Fixed Rate 3.04% 5.23%
2 Year Fixed Rate 2.99% 5.07%
3 Year Fixed Rate 2.89% 4.91%
4 Year Fixed Rate 3.14% 4.83%
5 Year Fixed Rate 3.14% 4.71%

-ENDS-

*Comparison rates: The comparison rate is based on a home loan amount of $150,000 over a loan term of 25 years. WARNING: This comparison rate is true only for the examples given and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate.

Important Information

Information and interest rates are correct on the date of publication and are subject to change. All applications for credit are subject to ING’s credit approval criteria. Fees and charges apply.

Any advice does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you.
Before making any decision in relation to our products, you should read the relevant Terms and Conditions booklet and Fees & Limits Schedule available at ing.com.au. If you have a complaint please call 133 464 at any time, as we have procedures in place to help resolve any issues you, or your customer may have. Credit provided by ING, a business name of ING Bank (Australia) Limited ABN 24 000 893 292, AFSL and Australian Credit Licence 229823.

 

About ING

ING changed the way Australians bank 20 years ago by launching the country’s first high interest, fee free online savings account. Since then, we’ve brought continued value to home loans, transactional banking, credit cards, personal loans, superannuation and insurance.

 

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Source: Nielsen Consumer & Media View July 19 – December 19 (n=11403) when compared by customers of 18 other banks operating in Australia.

 

Media contacts

Deanna Rose, PR Manager ING, M:  +61 413 317 225, E: deanna.rose@ING.com.au

David Breen, Head of Corporate Affairs, ING, M: +61 412 933 060, E: david.breen@ing.com.au

Media Enquiries

David Breen
Head of Corporate Affairs
0412 933 060
David.Breen@ing.com.au

Megan Landauro
Public Relations Manager
0413 317 225
Megan.Landauro@ing.com.au

ING
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Sydney NSW 2000

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