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ING has recently rolled out cuts in its fixed-rate offerings for both owner-occupiers and investors, almost a week before the announcement of the Reserve Bank of Australia’s monetary policy decision for April.

The fixed-rate reductions took effect on 30 March.

Owner-occupiers and investors will see a 25bps decline in fixed rates for fixed terms between three and five years.

Meanwhile, one- to two-year fixed rates were reduced by 20bps.

ING head of sales and distribution Glenn Gibson said fixed loan applications remained strong and have been increasing since November 2022.

“We are pleased to continue to offer competitive rates to assist customers who want a bit more certainty in these uncertain times,” he told Your Mortgage.

Here are the changes in ING’s fixed-rate offerings:

Loan Product (80% LVR)

Fixed Term

Fixed Rate

Investment Fixed P&I

1-2 years

5.64% p.a.

Investment Fixed P&I

3-4 years

5.54% p.a.

Investment Fixed P&I

5 years

5.64% p.a.

Investment Fixed IO

1-2 years

5.84% p.a.

Investment Fixed IO

3-4 years

5.74% p.a.

Investment Fixed IO

5 years

5.84% p.a.

Residential Fixed P&I

1-2 years

5.54% p.a.

Residential Fixed P&I

3-4 years

5.44% p.a.

Residential Fixed P&I

5 years

5.54% p.a.

Orange Advantage Residential

1-2 years

5.44% p.a.

Orange Advantage Residential

3-4 years

5.34% p.a.

Orange Advantage Residential

5 years

5.44% p.a.

Buying a home or looking to refinance? The table below features home loans with some of the lowest interest rates on the market for owner occupiers.

Rates
Features
Fees
Other
Lender
Variable
More details
4.5 STAR CUSTOMER RATINGSINCLUDES NOV RBA RATE INCREASE
  • Low rates for purchase and refinancing
  • Simple online application process
  • No fees, unlimited redraws, 0.10% offset 
4.5 STAR CUSTOMER RATINGSINCLUDES NOV RBA RATE INCREASE

Variable Home Loan (LVR < 90%)

  • Low rates for purchase and refinancing
  • Simple online application process
  • No fees, unlimited redraws, 0.10% offset 
More details
Variable
More details
  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMEYM. (T&Cs apply)

Up Home Variable (Principal & Interest) (LVR ≤ 90)

  • Up is 100% owned by Bendigo Bank.
  • Up to 50 offset accounts
  • New joiners get $10 by signing up to the app using code UPHOMEYM. (T&Cs apply)
More details
Variable
More details

Variable Rate Home Loan – Refinance Only

    More details
    • Low rates for purchase and refinancing
    • Simple online application process
    • No fees, unlimited redraws, 0.10% offset 

    More details
    Important Information and Comparison Rate Warning

    Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to be made on variables as selected and input by the user. Some products will be marked as promoted, featured or sponsored and may appear prominently in the tables regardless of their attributes. All products will list the LVR with the product and rate which are clearly published on the product provider’s website. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of November 29, 2023.

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