ING Newsroom

ING DIRECT cuts fixed rates

Published on 09/08/2011

ING DIRECT has reduced its fixed interest rates to further encourage borrowers who are looking for repayment stability by offering a competitive rate well below current variable rates.

The rate on ING DIRECT’s fixed rate loans will be 6.59% for one year through to 6.69% for three years and 6.99% for five year loans, effective from 10 August 2011.

ING DIRECT’s Head of Broker Sales, Mark Woolnough says “there is an air of uncertainty among borrowers and we’ve seen an increased appetite for discounted fixed rates in the past few months as borrowers capitalise on the ability to effectively take an immediate rate cut.

“The benefit of a fixed rate is the certainty of a good, low rate for the medium term and the option to move to another competitive loan once that term expires.”

FIXED RATE
LOANS
INTEREST
RATE
COMPARISON RATE
NSW, QLD & VIC
COMPARISON RATE
OTHER STATES
1 Year Fixed 6.59% p.a. 7.10% p.a. 7.09% p.a.
2 Year Fixed 6.69% p.a. 7.07% p.a. 7.06% p.a.
3 Year Fixed 6.69% p.a. 7.03% p.a. 7.02% p.a.
4 Year Fixed 6.89% p.a. 7.07% p.a. 7.06% p.a.
5 Year Fixed 6.99% p.a. 7.10% p.a. 7.09% p.a.

Media contact:
Caroline Thomas, ING DIRECT
Ph: 02 9018 5160
Email: caroline.thomas@ingdirect.com.au

About ING DIRECT
ING DIRECT began operating in Australia in 1999. By doing business online, over the phone and through intermediaries, ING DIRECT keeps it overheads low and passes the savings onto customers in the form of competitive rates. Today, it has grown to become Australia’s fifth largest retail bank, with $24 billion in deposits, more than $37 billion in loans and around 1.4 million customers. Please note ING DIRECT is never abbreviated to ING.

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

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Sydney NSW 2000

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