New home loan & refinance rates: Westpac cuts mortgage costs
The final big four bank domino fell this week, with Westpac and its subsidiaries passing o...
06 Jun, 2025
| Lender | Home Loan | Interest Rate | Comparison Rate* | Monthly Repayment | Repayment type | Rate Type | Offset | Redraw | Ongoing Fees | Upfront Fees | Max LVR | Lump Sum Repayment | Extra Repayments | Split Loan Option | Tags | Features | Link | Compare | Promoted Product | Disclosure |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
5.19% p.a. | 5.58% p.a. | $2,742 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
5.19% p.a. | 5.54% p.a. | $2,742 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
5.19% p.a. | 5.58% p.a. | $2,742 | Principal & Interest | Fixed | $0 | $350 | 80% | |||||||||||||
5.19% p.a. | 5.54% p.a. | $2,742 | Principal & Interest | Fixed | $0 | $350 | 80% | |||||||||||||
5.29% p.a. | 5.57% p.a. | $2,773 | Principal & Interest | Fixed | $0 | $350 | 80% | |||||||||||||
5.29% p.a. | 5.60% p.a. | $2,773 | Principal & Interest | Fixed | $0 | $350 | 80% | |||||||||||||
5.29% p.a. | 5.60% p.a. | $2,773 | Principal & Interest | Fixed | $0 | $350 | 70% | |||||||||||||
5.29% p.a. | 5.72% p.a. | $2,773 | Principal & Interest | Fixed | $0 | $350 | 90% |
Important Information and Comparison Rate Warning
ING home loans: What you need to know
The Australian leg of Dutch banking giant ING markets itself as the most recommended bank down under. It was also the first direct bank in Australia – meaning it operates without a physical branch network – having hit Aussie shores in 1999.
Over the years, ING has evolved from essentially offering savings accounts and home loans exclusively to providing a full service banking experience, complete with credit card, superannuation, and insurance offerings.
You might find ING a good fit for your home loan needs if you:
- Don't mind conducting your banking online or over the phone
ING doesn't operate branches in Australia, meaning customers must conduct their banking via its website, app, or over the phone. - Want a full service bank with competitive deposit offerings
Many ING customers will be aware of the bank's savings account offerings, commonly among the most competitive in the market. This could be a positive for some home loan borrowers. - Value a user-friendly mobile app
The ING app mightn't provide out-of-this-world technology, but it's known for its simple but useful interface, its smooth useability, and offering most features users need. - Are seeking competitive mortgage rates
While ING's home loan rates rarely lead the market, they're commonly among some of the lowest on offer from a major bank – particularly those offered under its Mortgage Simplifier product. - Want access to an offset account
ING's Orange Advantage home loan provides an offset account as standard. - Want to borrow more for green home upgrades
ING launched a Green Upgrade Loan in 2024, offering a competitive fixed rate for home loan holders wishing to borrow more to pay for the likes of solar panels, batteries, or EV chargers. The bank also offers a tool to help homeowners find quotes for energy efficient upgrades and assess if they are eligible for government grants. - Value sustainability
Like many banking giants, ING is making moves to be more sustainable. It aims to get the most carbon-intensive areas of its portfolio to net zero by 2050. - Want access to budgeting features
ING differs from other banks by offering the option for customers to round up every purchase they make to the nearest $1 or $5, with the extra deposited into the savings account, repaid off their home loan, or donated to charity. It also offers 1% cashback on eligible purchases made by eligible customers holding a particular credit card product.
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