These loans are offered at different rates to both owner-occupiers and investors and customers can lock-in rates up to 90 days in advance, although a one-off rate-lock fee will apply.
You can choose to split your loan with ING DIRECT’s variable rate Orange Advantage loan and take advantage of an offset account on the variable part of your loan – giving you flexibility while retaining the security a partially fixed loan provides.
Additionally, if you combine your fixed rate loan with an Orange Everyday transaction account you will get free access to any ATM in Australia.
Additional repayments are permitted, although fees may apply if these repayments exceed $10,000 per year.
Who is the ING DIRECT Fixed Rate Loan good for?
Review - What RateCity says
The ING DIRECT Fixed Rate loan offers a reasonably attractive interest rate with no ongoing monthly or annual fees. It also offers a degree of security by allowing you to fix your interest rate for up to five years, which may suit first home buyers looking for a stable, predictable loan.
The ING DIRECT Fixed Rate loan offers a number of incentives such as interest rate discounts and no ATM fees, if you tie your fixed loan in with other ING products, so it’s worth looking at these options if they suit your personal circumstances.
The downsides included the lack of an offset account unless the loan is combined with an Orange Advantage loan, although it does offer the ability for additional repayments.
ING DIRECT Fixed Rate Loan Options
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Advertised rate4.09%Fixed - 3 years
Advertised rate4.29%Fixed - 5 years
Advertised rate4.14%Fixed - 2 years
Advertised rate4.44%Fixed - 4 years
Advertised rate4.19%Fixed - 1 year
Advertised rate4.49%Fixed - 5 years
Advertised rate4.59%Fixed - 4 years
Advertised rate4.39%Fixed - 3 years
Advertised rate4.19%Fixed - 2 years
Advertised rate4.24%Fixed - 1 year