ING Newsroom

ING DIRECT Launches Loyalty Cash Rewards On Home Loans

Published on 13/04/2015

ING DIRECT is saying thank you to its loyal customers by giving eligible Orange Advantage Offset Home Loan borrowers a cash rebate on their mortgage repayments under a new loyalty rewards program launching 1 May.

Existing and new Orange Advantage Offset Home Loan customers who also have an Orange Everyday transaction account and deposit their salary into it (of at least $1,000 per month) will receive 1% cash back based on monthly mortgage repayments of up to $3,000.

For a customer making repayments of $3,000 per month, this could mean:

• $30 cash back per calendar month
• $360 cash back per calendar year
• $10,800 cash back over the life of a 30 year loan

The home loan rebate is paid into the customer’s Orange Everyday transaction account each month, giving customers money to either pay off their home loan a little faster or simply spend, save or invest as they please.

Mr Arnott said the loyalty rewards program was a way of saying thank you to customers:

“We want to be our customers’ main bank, supporting them with all their banking needs across transaction accounts, savings, superannuation and home loans. We are always focused on value and will continue to have great rates across all our products for all our customers. This is simply a way of saying thank you and giving a little extra back to those customers who have adopted us for all their banking.”

The home loan cash back reward is the latest addition to ING DIRECT’s loyalty rewards program, where both savings and transaction account customers are already being rewarded for adopting ING DIRECT as their main bank.

ING DIRECT Orange Everyday transaction account customers are able to receive cash back on Visa payWave transactions up to $100 and fee-free ATM withdrawals throughout Australia, as well as a bonus rate on their Savings Maximiser account, when they deposit their salary (of $1,000 or more) into their Orange Everyday account each month.

Media contact:

Kristen Costandi
PR Manager, ING DIRECT
T: 02 9018 5160
M: 0413 317 225
E: kristen.costandi@ingdirect.com.au

About ING DIRECT

ING DIRECT changed the way Australians bank 15 years ago by launching the country’s first high interest, fee free online savings account. Since then, we’ve brought this low fee value to home loans, transactional banking and superannuation. With over 1.5 million customers – and $32 billion in savings and $38 billion in mortgages – ING DIRECT has the highest Net Promoter Score of any bank. Please note ING DIRECT is never abbreviated to ING.

Mortgage Reward Offer for Orange Advantage Home Loan and Orange Everyday customers: The Mortgage Reward offer is available for Orange Advantage and Orange Everyday customers (including joint accounts). The Mortgage Reward offer will apply for the next calendar month when a deposit of at least $1,000 is made to any personal ING DIRECT account in your name (excluding Living Super) by the last day of the preceding calendar month. The Mortgage Reward offer applies to residential home loans. To be eligible for the Mortgage Reward offer, loan accounts must not be in arrears. The Mortgage Reward offer may be changed or withdrawn at any time at ING DIRECT’s sole discretion.

ATM Rebate Offer for Orange Everyday customers: The ATM Rebate offer will apply for the next calendar month when deposits totalling at least $1,000 from an external bank account are made to any personal ING DIRECT account in your name (excluding Living Super) by the last day of the preceding calendar month. The ATM fee charged by the ATM operator is rebated immediately following the transaction. The ATM Rebate offer may be changed or withdrawn at any time at ING DIRECT’s sole discretion.

2% Cash Back Offer for Orange Everyday Customers: The 2% Cash Back offer is available for Orange Everyday customers (including joint account holders) and may be changed or withdrawn at any time at ING DIRECT’s sole discretion. The cash back offer only applies on contactless Visa payWave purchases under $100 that are made in Australia. The cash back offer will apply for the next calendar month when a deposit of at least $1,000 from an external bank account is made to any personal ING DIRECT account in your name (excluding Living Super) by the last day of the preceding calendar month. The cash back amount received will be based on the cash back percentage of 2% and will be made into the relevant Orange Everyday account immediately after settlement of the transaction. Should you use this offer in a manner that is not satisfactory or in line with the intent of the offer, we may place a stop or freeze on your account, refuse to apply the rebate to any or all purchases, or reverse the amount of the cash backs. ING DIRECT cannot guarantee that payWave facilities will be available for use for your chosen purchase.

Savings Maximiser bonus rate: The additional variable rate can only apply when you also have an Orange Everyday. The additional variable rate currently 1.25% p.a. (that is added to the Savings Maximiser standard variable rate) applies on one Savings Maximiser per customer for a calendar month when you make a deposit of at least $1,000 from an external bank account to any personal ING DIRECT account in your name (excluding Living Super) by the last day of the preceding calendar month. Any amounts above $100,000 are subject to the Savings Maximiser standard variable rate applicable at the time. If you do not satisfy the conditions to receive the additional variable rate, the standard variable rate applies. ING DIRECT can change or withdraw the additional variable rate at any time. The additional variable rate is not payable in conjunction with any other promotional rate.

Any advice in this email does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. All applications for credit are subject to ING DIRECT’s credit approval criteria. Fees and charges apply. Before making any decision in relation to an Orange Everyday or any of our Products, you should read the relevant Terms and Conditions booklet and Fees and Limits Schedule, available at our website or by calling 133 464. If you have a complaint, please call us at any time as we have procedures in place to help resolve any issues you may have. Independent financial advice should be sought as tax implications may arise as a result of the cash back paid. Products are issued by ING DIRECT, a division of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL and Australian Credit Licence 229823.

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
60 Margaret Street
Sydney NSW 2000

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ING is a business name of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL/ACL 229823.
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