ING DIRECT To Cut Variable Home Loan Rate By 0.25% ING DIRECT will cut the interest rate on its variable mortgages by 0.25%, effective Tuesday 13 December. ING DIRECT’s Mortgage Simplifier will be 6.62%. ING DIRECT is the fifth largest home lender in the country. Media contact: ... December 08, 2011 ING DIRECT will cut the interest rate on its variable mortgages by 0.25%, effective Tuesday 13 December. ING DIRECT’s Mortgage Simplifier will be 6.62%. ING DIRECT is the fifth largest home lender in the country. Media contact: David Breen Head of Corporate Affairs ING DIRECT Ph: 0412 933 060 E: david.breen@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.