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

ING Bank (Australia) Ltd, commonly referred to as ING, was established in 1999 as the first direct bank in Australia. It was founded to offer Australians a new way of banking, focusing on digital solutions and eliminating the need for physical branches. Over the years, ING has grown significantly, becoming the largest mortgage lender outside the Big Four banks. Its innovative approach to banking has been a key driver in its expansion and success.

Today, ING operates as a digital-first bank, providing a range of financial products primarily through online channels. With its headquarters in Sydney, New South Wales, ING is a subsidiary of the global ING Group. The bank differentiates itself by offering competitive home loan rates and efficient digital services, appealing to tech-savvy customers who prefer online banking solutions. ING's offerings include 100% offset accounts and competitive interest rates starting from 5.99%.

ING targets homebuyers and investors seeking flexible and cost-effective mortgage solutions. Its product range includes the Fixed Rate Home Loan and Mortgage Simplifier, designed to cater to diverse borrower needs. ING's focus on digital innovation and customer-centric services positions it as a compelling alternative to traditional banks, especially for those looking for seamless digital experiences.

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

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

ING BANK (Australia) Ltd offers a range of flexible and cost-effective home loan products, emphasising digital convenience and competitive interest rates. Borrowers benefit from features like 100% offset accounts, free additional repayments, and innovative digital tools.

• Free Additional Repayments: Borrowers can make additional repayments up to $10,000 per settlement anniversary without incurring fees. This feature allows borrowers to reduce their loan principal faster, potentially saving on interest costs over the life of the loan.
• Split Loan: The split loan feature allows borrowers to divide their home loan into fixed and variable rate portions. This provides the flexibility to benefit from the stability of fixed rates while taking advantage of potential rate decreases with variable rates.
• SMS Notifications: Borrowers receive SMS alerts for balance changes, deposits, or salary credits. This feature enhances financial management by keeping borrowers informed of account activities in real-time.
• 100% Offset Facility: Available with the Orange Advantage loan, this facility allows borrowers to offset their loan balance with deposits in a linked account, effectively reducing the interest payable. This can lead to significant interest savings over the loan term.
• Flexible Redraw Facility: Borrowers can access additional payments made on their loan without any fees or minimum redraw amounts. This feature provides financial flexibility, allowing borrowers to manage unexpected expenses or investment opportunities.
• Online Banking Features: ING provides comprehensive online banking services, enabling borrowers to manage their loans conveniently through digital platforms. This includes viewing statements, making payments, and managing loan features from anywhere.
• Rate Discounts on Loan Combinations: Borrowers can receive interest rate discounts when combining certain loan products, such as the Fixed Rate Home Loan with an Orange Advantage loan. This can enhance affordability and reduce overall borrowing costs.
• Everyday Round Up: This feature rounds up eligible purchases to the nearest dollar, with the difference applied to the home loan. It's an effortless way for borrowers to make incremental repayments, helping to reduce the loan balance over time.

ING Bank (Australia) Ltd offers a transparent fee structure, with a focus on minimising ongoing costs for borrowers. Their approach includes covering certain fees under specific conditions, enhancing affordability for home loan customers.

• Valuation Fee: Variable - A valuation fee is payable. ING will cover 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.
• Consent to Subdivision/2nd Mortgage: $300 - Applicable when consent is needed for subdivision or a second mortgage.
• Annual Fee: $299 (Annual) - Charged for the Orange Advantage loan, which includes a 100% offset facility.
• Discharge Fee: $250 - Applies to both full and partial loan discharges.
• Late Payment Fee: $30 - Charged when a 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.
• Direct Debit Rejected Fee: $9 - Charged for each rejected direct debit transaction.
• Additional Statements Fee: $7 - Charged for each additional statement period requested.

ING BANK (Australia) Ltd offers home loans to individuals who meet specific eligibility criteria, focusing on accessibility for Australian residents and providing competitive rates and flexible options.

• Must be at least 18 years old.
• Must have and maintain an Australian residential address.
• Must be an Australian or New Zealand citizen or permanent resident.
• Must demonstrate a stable income and ability to repay the loan.
• Must have a satisfactory credit history.
• Loan-to-Value Ratio (LVR) up to 95% is available on some products, subject to conditions.
• Deposit requirements may vary, with some products accepting a 5% deposit with a guarantor.

• Lenders Mortgage Insurance (LMI) may be required for loans with an LVR above 80%.
• Special rate discounts are available when combining certain loans, such as the Fixed Rate Home Loan with an Orange Advantage loan.
• First home buyer programs and professional packages may offer additional benefits or requirements.