4 July 2017:  Effective Friday 7 July, ING DIRECT is making a number of changes to variable rates across its home loan portfolio.

The reference rates for the following segments will change as follows:

• For owner-occupier borrowers with our Orange Advantage home loan, the principal and interest rates will decrease by 0.05% p.a.
• For owner-occupier borrowers (with either an Orange Advantage or Mortgage Simplifier home loan), interest-only rates will increase by 0.20% p.a.
• For investor borrowers (with either an Orange Advantage or Mortgage Simplifier), interest-only rates will increase by 0.35% p.a.

ING will waive any switching fees until the 31 August for existing customers with Interest Only loans wishing to switch to Principal and Interest repayments. With a Principal and Interest loan customers may be eligible for lower interest rates. For the latest reference rates, please refer here.

-ENDS-

Media contact

David Breen

Head of Corporate Affairs, ING

M:  +61 412 933 060

E: david.breen@ingdirect.com.au

About ING

ING is part of the world’s leading direct bank and is wholly owned by ING Group. From pioneering high interest online savings in 1999 and offering simple, competitive home loans, ING has responded to the demands of its 1.7m customers by offering a range of retail banking solutions across payments, insurance, credit cards and superannuation.

With a mobile-first focus and the most digitally engaged customers of any bank, ING in Australia is “Australia’s most recommended bank” according to Nielsen Consumer & Media View Oct‘16 –  Mar’17 (n=10,327) when compared by customers of 15 other banks operating in Australia.

 ING was also rated the most reputable bank in Australia in the 2017 Corporate Reputation Index.