What are the break costs for fixed rate loans with ING BANK (Australia) Ltd?

Break costs can apply if you repay your fixed rate loan early or switch to another loan type. It's important to consider these costs before making changes to your loan.

What should I do if there’s a service outage with ING BANK (Australia) Ltd?

Service outages have been reported, so it's best to have backup access to your financial information and contact ING directly for updates if you experience disruptions.

How much can I save by refinancing my home loan to ING BANK (Australia) Ltd?

Refinancing a $500,000 loan to ING could save you $166 per month, totaling $59,688 over 30 years. For a $1,000,000 loan, the savings could be $332 per month, equating to $119,377 over the loan term.

What is the refinancing timeline with ING BANK (Australia) Ltd?

The refinancing process typically takes 3-4 weeks from application to settlement. Make sure to submit all necessary documents promptly to avoid delays.

Are there any hidden fees with ING BANK (Australia) Ltd home loans?

There are no identified fee traps, but be aware of potential break costs for fixed rate loans and always read the terms carefully.

What should I know about ING BANK (Australia) Ltd’s customer service?

Many customers have reported dissatisfaction with ING’s customer service, describing it as slow and unhelpful. Consider this feedback when choosing your lender.

How does ING BANK (Australia) Ltd calculate broker commissions?

ING has changed its broker commission structure to be based on total net loan balances, which might affect how brokers advise on ING products.

What are the repayment amounts for different loan sizes with ING BANK (Australia) Ltd?

For a $400,000 loan at 5.99% over 30 years, you'd pay $2,396/month. A $1,000,000 loan would be $5,989/month. Make sure to calculate your budget accordingly.

How can I benefit from ING BANK (Australia) Ltd’s cashback offers?

With ING Pocket Perks, you can access cashback offers at over 80 retailers, adding value to your banking experience.

UPDATED JUL 20, 2026

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

No ongoing fees and award-winning service make ING a top choice. Beware of break costs on fixed loans. Ready to explore competitive rates and excellent support?

Bheja Verdict

Very Good

4.2/5

✓

Highly competitive rates across products

✓

Wide range of loan options

Check Eligibility

ING BANK (Australia) Ltd Home Loans At a Glance

🏷️Best Rate Available

5.99%

Variable • Owner Occupied

💳Application Fee

Upfront fee applies

📅Monthly Fee

Ongoing service fee

Loan Range:$20K - $3.0M

LVR:Up to 95%

Products:101 variations

Offset Account:Available

Current ING BANK (Australia) Ltd Home Loan Rates

Last updated: July 2026

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Average Rate: 6.09%
Best Rate: 6.04%
Monthly Payment: $3,011

Advanced

Sort By

Mortgage Simplifier
ING BANK (Australia) Ltd
20%-29% DepositRedraw
6.04%
Interest Rate
Variable
6.07%
Comparison Rate*
$3,011
per month
Principal And Interest
Check Eligibility
Fees:
Discharge $250+ other fees may apply
Orange Advantage
ING BANK (Australia) Ltd
20%-29% DepositOffsetRedraw
6.14%
Interest Rate
Variable
6.43%
Comparison Rate*
$3,043
per month
Principal And Interest
Check Eligibility
Fees:
Ongoing/year
$299Discharge $250+ other fees may apply

ING BANK (Australia) Ltd Product Statistics

Real-time insights and market analysis

ING BANK (Australia) Ltd offers 3 home loan products across 101 variations, the average variable rate is 6.36% p.a., the best available rate is 5.99% p.a..

Average Variable Rate

6.36%

40 products

Average Fixed Rate

6.54%

61 products

Best Available Rate

5.99%

Variable • Owner Occupied • P&I

Total Products

101 variations

Fee Summary

Application Fee

Monthly Fee

Discharge Fee

$250

Late Payment Fee

$30

Key Features

Across ING BANK (Australia) Ltd's range: 20 include an offset account, 40 offer redraw, 101 allow extra repayments, 101 support split loans.

Offset Account

20%

Redraw Facility

40%

Extra Repayments

100%

Split Loan

100%

Product Ranges

ING BANK (Australia) Ltd's interest rates range from 5.99% to 6.89% p.a., maximum LVR from 50% to 95%, loan amounts span $20,000 to $3,000,000.

Interest Rates5.99% — 6.89%

Max LVR50% — 95%

Loan Amount$20K — $3.0M

Disclaimer: The key features displayed highlight what's available across the lender's home loan range. Individual products and variations may differ. Use the product table to search for a loan with the specific features you're looking for.

How ING BANK (Australia) Ltd Compares

FEATURE	ING BANK (Australia) Ltd	Rabobank	Bank of China	HSBC	Arab Bank Australia Limited
Best Variable Rate	5.99%	—	5.93%	5.99%	6.15%
Best Fixed Rate (3yr)	6.39%	—	6.39%	6.34%	7.30%
Application Fee	$0BEST	$0	$350	$600	$600
Monthly Admin Fee	$0BEST	$0	$0	$0	$8
Offset Account		—
Redraw Facility		—
Product Variations	101	0	38	142	23

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Bheja Insight: ING BANK (Australia) Ltd waives application fees, saving borrowers hundreds compared to other international banks.

About ING BANK (Australia) Ltd

Company overview and contact information

ING BANK (Australia) Ltd is an international, online-only bank and a wholly owned subsidiary of the global financial institution, ING Group. Operating under the Australian Business Number 24000893292, ING BANK (Australia) Ltd is led by CEO Matt Bowen. The bank is accredited by the Australian Prudential Regulation Authority (APRA) and holds both an Australian Financial Services Licence (AFSL) and an Australian Credit Licence (ACL), numbered 229823.

Specializing in home loans, ING BANK (Australia) Ltd offers a diverse range of 106 variations across three main products, with interest rates ranging from 5.99% to 6.89%. Known for its no ongoing fees and interest rate discounts for eligible customers, ING caters to a wide array of borrowers seeking competitive and flexible mortgage solutions. Their online-only model allows for streamlined processes and efficient service delivery.

What sets ING BANK (Australia) Ltd apart is its commitment to customer satisfaction, evidenced by its award-winning service. The bank also provides unique benefits such as no ongoing fees and interest rate discounts, enhancing its appeal to cost-conscious borrowers. Additionally, ING has adapted its broker commission structure to be based on total net loan balances, reflecting its innovative approach to the mortgage market.

Company Details

Legal Name: ING BANK (Australia) Ltd

ABN: 24000893292

Ownership: Wholly owned subsidiary

AFSL: 229823

Parent Company: ING Group

Key Features

ING BANK (Australia) Ltd offers a range of home loan features designed to provide flexibility and cost savings for borrowers, including free additional repayments and a 100% offset facility.

Free Additional Repayments

ING BANK (Australia) Ltd allows borrowers to make additional repayments up to $10,000 annually without incurring fees. This feature enables borrowers to pay off their loans faster and reduce interest costs.

100% Offset Facility

Link your home loan to an Orange Everyday account to benefit from a 100% offset facility. This reduces the interest payable on your loan by offsetting the balance in your account against your loan amount.

Split Loan Option

Borrowers can split their loan into fixed and variable portions, offering the security of fixed rates and the flexibility of variable rates. This allows for tailored financial management according to individual needs.

No Ongoing Fees

ING BANK (Australia) Ltd offers home loans with no ongoing monthly or annual fees, providing significant cost savings over the life of the loan.

Interest Rate Discounts

Eligible borrowers can access interest rate discounts, enhancing affordability and reducing overall loan costs. Specific discounts are available when combining products, such as the Orange Advantage home loan.

SMS Notifications

Receive SMS alerts for account activities, such as balance changes or salary deposits. This feature helps borrowers stay informed and manage their finances effectively.

Online Banking Access

ING BANK (Australia) Ltd provides comprehensive online banking features, allowing borrowers to manage their loans conveniently from anywhere, at any time.

Flexible Redraw Facility

Borrowers can access additional repayments through a flexible redraw facility with no minimum amount or redraw fees, offering financial flexibility when needed.

Everyday Round Up

Round up purchases on your Orange Everyday card, and the difference goes towards paying down your home loan. This feature helps in gradually reducing the principal amount with minimal effort.

Loan-to-Value Ratio (LVR) Options

ING BANK (Australia) Ltd offers loans with LVR tiers up to 95%, allowing borrowers to choose the best option based on their deposit size and financial situation.

Fees & Charges

ING BANK (Australia) Ltd offers a transparent fee structure with a mix of upfront and other conditional fees, while maintaining minimal ongoing costs for home loan products.

Fee Type

Amount

Description

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.

Consent to Subdivision/2nd Mortgage Fee

$300

Charged for consent to subdivision or registering a second mortgage.

Additional Statements Fee

$7 for each additional statement period requested.

Settlement Fee

$350

Charged at settlement for each loan application.

Annual Fee

$0-$299/year

No monthly or transaction fees. Some products may have an annual fee of $299.

Discharge Fee

$250

Charged for full or partial discharge of the loan.

Late Payment Fee

$30

Charged when payment is not made within 5 days of the due date.

Fixed Rate Lock-in Fee

$749

Charged to lock in your fixed rate prior to settlement, per fixed rate loan account.

Product Switch Fee

$300

Automatically switches to a variable Mortgage Simplifier at the end of the fixed term free of charge. Break cost may apply if changed before term expires.

Direct Debit Rejection Fee

$9 for each rejected direct debit.

Fees subject to change. Refer to lender documentation for current rates.

Eligibility Criteria

ING BANK (Australia) Ltd offers home loans to individuals who meet specific age, residency, and financial criteria, making it accessible to a wide range of borrowers in Australia and New Zealand.

Must be at least 18 years old.

Must have and maintain an Australian residential address.

Eligible for residents of Australia and New Zealand.

Loan amounts range from $20,000 to $3,000,000.

Loan-to-Value Ratio (LVR) up to 95% on some products, with LMI required above 80% LVR.

Proof of identity and income verification required.

Must provide property details and additional documents as needed.

Important Notes

Lenders Mortgage Insurance (LMI) is required for loans with an LVR above 80%.
A deposit of at least 5% is generally required, with LMI applicable if less than 20%.
Special offers include discounts on insurance premiums and cashback on utility bill payments with specific accounts.
Be aware of potential scams impersonating ING BANK (Australia) Ltd.

ING BANK (Australia) Ltd Home Loan Pros & Cons

Our expert take on whether ING BANK (Australia) Ltd is right for you

Pros

+Competitive interest rates below market average
+No ongoing fees and low annual fees
+Free additional repayments up to $10,000 per year
+Access to cashback offers and utility bill cashback

Cons

–Significant customer service complaints
–Potential security vulnerabilities reported
–Break costs for fixed rate loans

Best For

Borrowers seeking competitive interest rates
Individuals comfortable with online-only banking
Customers looking for low-fee options

Not Ideal For

Borrowers prioritizing exceptional customer service
Individuals needing in-person banking support

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Bheja Verdict: ING BANK (Australia) Ltd offers competitive home loan rates with notable savings potential, but customer service concerns may deter some borrowers.

Expert Secrets (Why Use Us?)

Insider knowledge about ING BANK (Australia) Ltd that most borrowers don't know

LMI Cost Examples

1For a $500,000 loan at 85% LVR, LMI costs $6,000.

2At 90% LVR, the LMI for a $500,000 loan increases to $12,500.

3A $500,000 loan at 95% LVR incurs a $21,000 LMI cost.

4For a $750,000 loan at 85% LVR, LMI costs $9,000, rising to $18,750 at 90% LVR.

Offset Benefits

A $10,000 offset account balance can save approximately $50 per month, totaling $600 per year.

With a $25,000 offset balance, you can save around $125 per month, equating to $1,500 annually.

A $50,000 offset balance offers savings of about $250 per month, or $3,000 per year.

Maximizing your offset account to $100,000 can save nearly $499 per month, totaling $5,988 annually.

Admin & Logistics (The Help Desk)

Everything you need to manage your loan

Application Process

6 Steps

Prepare for Discharge: Gather all necessary information about your loan and any related documents. Ensure you know your settlement date. (Tip: Start this process at least 3 weeks before your planned settlement date.)

Complete the Discharge Authority Form: Fill out the discharge authority form accurately, providing all requested details about your loan and settlement. (Tip: Double-check all information to avoid delays. Contact customer service if you have any questions.)

Submit the Form: Send the completed discharge authority form to ING BANK. This can usually be done via mail or online submission. (Tip: Keep a copy of the submitted form for your records.)

Pay the Discharge Fee: Ensure the $250 discharge fee is paid. This may be done through your bank account or as instructed by ING BANK. (Tip: Confirm payment details with ING BANK to ensure timely processing.)

Coordinate with Settlement Agent: Work with your settlement agent to ensure all aspects of the discharge are handled smoothly. (Tip: Keep in regular contact with your settlement agent to address any last-minute issues.)

Final Confirmation: Receive confirmation from ING BANK that your loan has been successfully discharged. (Tip: Follow up with ING BANK if you do not receive confirmation within the expected timeframe.)

Processing Times

Discharge Process10-15 business days

Required Documents

Discharge authority form

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Pro Tips

Submit your discharge request at least 3 weeks before your settlement date to avoid delays.
Ensure all forms are filled out correctly to prevent processing issues.
Contact ING BANK customer service at 1800 100 258 if you have questions about the process.
Keep a record of all communications and submissions related to your discharge.
Consider any competitive retention offers if you are refinancing.

ING BANK (Australia) Ltd Mortgage Calculator

Estimate your repayments using current ING BANK (Australia) Ltd home loan rates

Over 30 years, borrowing $480,000 at 5.99%, total cost including interest and known fees could be around $1,035,820. Estimated monthly repayment: $2,874.76.

Home loan option

Property price

Your deposit

Loan term (years)Repayment frequency

Estimated total cost over 30 years

$1,035,820

Estimated repayment

$2,874.76

monthly repayment

Amount you borrow: $480,000 · At 5.99% · Variable — can change with the market

This loan can be split between fixed and variable. This estimate uses one option only.

Known fees in this estimate

Settlement fee: $350
Legal fee: $300
Document fee: $7
Discharge fee: $250
Total ongoing fees (30 yrs): $0

How is this calculated?

Estimated total cost includes the amount borrowed, interest over the full loan term, and any upfront, ongoing, and discharge fees published by the lender. It does not include stamp duty, LMI, or savings from an offset account.

The revert rate is the rate your loan may switch to when a fixed, introductory, or interest-only period ends. Where a lender hasn't published this rate, we use an estimate.

Cost breakdown

Amount you borrow: $480,000
Total interest: $554,913
Upfront fees: $657
Ongoing fees: $0
Discharge fee: $250
Estimated total cost: $1,035,820

These figures are estimates only. Your actual repayments and costs may differ. Confirm all details with your lender before making a decision.
Where a lender hasn't published their revert rate (the rate that applies after a fixed, introductory, or interest-only period ends), we estimate it. Your repayments may change when this period ends.
Split loans and offset accounts aren't included in this estimate.
For product comparison and comparison rates, see the rates table above.

Still Unsure? Let a human handle it.

Not sure if ING BANK (Australia) Ltd is right for you? Our brokers can help you compare options.

Frequently Asked Questions

Conditional approval typically takes 2-5 business days, depending on the complexity of your application. Full approval can take 5-7 business days.