ING BANK (Australia) Ltd Home Loans: The 2026 Review

ING Bank (Australia) Ltd, a subsidiary of the global ING Group, was established in 1999 as Australia's first direct bank under the name ING Direct. It rebranded to ING in 2017 to reflect its evolution into a comprehensive digital banking service. Operating from Sydney, New South Wales, ING has focused on providing a purely digital banking experience without a physical branch network, prioritising convenience and competitive pricing.

Today, ING is recognised as the fifth largest financial institution in Australia, holding a 5% market share. It distinguishes itself from the Big 4 banks by offering digital-first services and competitive rates. ING's business model centres around online-only delivery, allowing it to offer products such as the Fixed Rate Home Loan and the Orange Advantage with unique features like a 100% interest offset facility and no ongoing fees for certain products.

ING targets tech-savvy customers across Australia who seek efficient and cost-effective online banking solutions. Its value proposition includes competitive pricing and digital convenience, appealing to customers who prioritise these aspects. However, potential borrowers should consider the conditions associated with fixed-rate loans, such as break costs for early repayment.

• Legal Name: ING BANK (Australia) Ltd
• ABN: 24000893292
• Established: 1999
• Headquarters: Sydney, New South Wales
• Type: Subsidiary
• Ownership: Independent

• Website: https://www.ing.com.au
• Phone: 1800 100 258

ING Bank (Australia) Ltd offers digital-first home loan solutions with competitive pricing and flexible features, appealing to tech-savvy borrowers seeking convenience and cost savings.

• Free Additional Repayments: Borrowers can make additional repayments up to $10,000 per settlement anniversary without incurring fees, allowing faster loan repayment and interest savings.
• SMS Notifications: Receive real-time SMS alerts for balance changes, deposits, and salary credits, helping borrowers stay informed and manage their finances effectively.
• Online Banking Access: ING provides comprehensive online banking features, enabling borrowers to manage their loans and accounts conveniently from anywhere, enhancing user experience and accessibility.
• Insurance Savings: Save 30% on new home and contents insurance policies when purchased online, offering significant cost savings and peace of mind for borrowers.
• 100% Offset Facility: The Orange Advantage loan includes a 100% offset account, reducing interest payable by offsetting the loan balance with deposits in the linked account, maximising interest savings.
• Flexible Redraw Facility: Access additional repayments anytime with no minimum redraw amount or fees, providing borrowers with financial flexibility to manage unexpected expenses.
• Everyday Round Up: Round up purchases to the nearest dollar and use the difference to pay down your home loan, offering a simple way to accelerate loan repayment.
• No Ongoing Fees: The Mortgage Simplifier offers low variable rates with no ongoing fees, reducing the overall cost of the loan and providing budget-friendly options for borrowers.
• Fixed Rate Discount: Pairing a Fixed Rate Home Loan with an Orange Advantage loan offers a 0.10% rate discount, providing cost-effective borrowing with repayment certainty.
• Unlimited Electronic Transactions: Enjoy unlimited electronic transactions without additional charges, ensuring seamless and cost-effective management of your home loan account.

ING BANK (Australia) Ltd offers a transparent fee structure, emphasising digital convenience and competitive pricing with no ongoing monthly or annual fees for certain products.

• Valuation Fee: Variable - A valuation fee is payable. ING covers up to $225 of the valuation fee (GST inclusive) for the first valuation/property only.
• Settlement Fee: $350 - Charged at settlement for each loan application.
• Annual Package Fee: $0-$299 (Annual) - No annual fee for some products like the Mortgage Simplifier; $299 for others like the Orange Advantage.
• Discharge Fee: $250 - Applied for both full and partial discharge of the loan.
• Late Payment Fee: $30 - Charged when payment is not made within 5 days of the due date.
• Product Switch Fee: $300 - Automatically switches to a variable Mortgage Simplifier at the end of the fixed term free of charge; break costs may apply if changed before expiry.
• Additional Statements Fee: $7 - Charged for each additional statement period requested.

ING BANK (Australia) Ltd offers home loans to Australian residents, focusing on digital convenience and competitive pricing, appealing to tech-savvy borrowers.

• Must be at least 18 years old.
• Must have and maintain an Australian residential address.
• New Zealand citizens residing in Australia are eligible.
• Applicants must demonstrate sufficient income to meet repayment obligations.
• A good credit history is required, with a credit check conducted during the application process.
• Loan-to-Value Ratio (LVR) up to 95% on some products, with Lenders Mortgage Insurance (LMI) required above 80% LVR.
• Deposit requirements may vary, with some products accepting a 5% deposit if supported by a guarantor.
• Break costs apply for early repayments exceeding $10,000 annually on fixed-rate loans.

• LMI is required for loans with an LVR above 80%.
• Special programs include cashback offers on utility bill payments with the Orange Everyday account.
• Guarantor options are available for certain products, allowing lower deposit requirements.