This was posted 8 months 24 days ago, and might be an out-dated deal.

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ING Owner Occupied Home Loans - from 2.24% Variable, 1.89% 2-Year Fixed, and $3,000 Bank Cashback


Plus $3,000 ING cashback per application (>$500k, <80%LVR), no limits on applications eg. $6,000 for 2 properties, $9,000 for 3 properties etc.
As of 14 October 2021, ING has confirmed that they are reducing their variable rates as low as 2.24% pa (2.27% comp), on the mortgage simplifier up to 80% loan-to-value ratio (LVR). Effective for new loan applications from 15 October 2021.
They also currently have a 2 day SLA
All fixed loans can be split with variable 100% offset if you add Orange Advantage package annual fee $299, including offset account, redraw, credit card.
ING one off legal fee $299

ING Offerings:

Owner Occupied P&I:

ING variable rates "Basic" Mortgage Simplifier - no annual fee, no offset, free redraw.

  • 2.24% (CPR 2.27%) up to 80% LVR
  • 2.49% (CPR 2.52%) up to 90% LVR
  • 2.39% (CPR 2.42%) up to 80% LVR - for Investment P&I

ING variable rates "Package" Orange Advantage 100% offset $299 annual fee

  • 2.29% (CPR 2.64%) up to 80% LVR
  • 2.54% (CPR 2.89%) up to 90% LVR
  • 2.44% (CPR 2.79%) up to 80% LVR - for Investment P&I

ING Fixed rates under Orange Advantage Package. (+0.1% under "Basic" Mortgage Simplifier no annual fee)

  • 1.89% (CPR 3.73%) owner fixed 2yrs
  • 2.09% (CPR 3.61%) owner fixed 3yrs

Up to $1,000 Loan Base Broker Cashback Offer

  • Additional Broker Cashback available on any refinance or purchase loan applications submitted through Loan Base until 30 November 2021.

Whilst these offers are very compelling, they will not suit everyone and not everyone will qualify for them - please therefore contact us to confirm the best deals you could qualify for from our panel of over 50 lenders before applying


You can apply through directly through the lender, or through an accredited broker, of which we have several across our team of specialists.

Our team is here to help, and will work to ensure we obtain the best pricing and offers possible for you. You can lodge an enquiry via our award winning tech platform here -, or contact one of our brokers directly with their details below.

Leo Gonzales, Email: [email protected], Calendar link:
Eric Cheng, Email: [email protected], Calendar link:
Andrew Loucas, Email: [email protected], Calendar link:

Loan Base Pty Ltd (ABN 95 162 141 915) · Australian Credit Licence Number 508 308
Head Office: Level 1, 1-5 Link Road, Zetland, NSW, 2017. Phone: 1300 512 377.

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closed Comments

  • +2

    I am existing ING customer. Anything ?

    • Hi mkh1991,
      We've been advised new rates will be effective for new loan applications and effective from 15 October 2021.

    • try to call them to match.

      Did a refinance very recently from NAB to Citibank. I was very surprised that NAB offered me $2000 plus the rate drop if I stay but it was too late.
      Usually they would drop the rate but won't offer any cash incentive.

    • +1

      @mkh1991 I had a 3 year ING offer end recently and sadly they refused to offer anything other than the standard rates on their website.

    • Had my broker apply to refix my loan but ING offered a different rates (1.84% 2 year fixed and 2.64% variable) with no cashback. You can try to ask for one and see if they offer a similar rate.I did not stay with ING but I think one of the reason they offered that new rates for me was due to similar offer from another bank so ING tried to match it.

    • I called them up at the start of this year to see if they could match their standard rates advertised on their website. I was paying about another 1% on quite a large loan. They didn't budge, so I went over to NAB.

      It pays to go with a bank that either automatically gives you their advertised rates (Athena home loans) or a bank with access to an account manager.

  • Minimum loan amount?

    • +1

      Hi Sapiens,
      ING's minimum loan amount is typical $150,000. However, to be eligible for the cashback it would need to be at least $500,000.

  • +1

    There has been a number of these deals from various banks the past few months. If I had a homeloan that met the criteria could I just keep swapping them and get the cashback deals everytime??

    • -1

      Generally they have a break fee if you leave within the agreed upon loan time (usually 2 years). In saying that I just broke my NAB loan a month ago, I was 12 months into a 24 month deal and they charged me $80. Though there was roughly around $1000 in fees between both banks (NAB to BankWest). Though over the next 2 years I still end up around $2000-3000 better off so it was worth it for me.

      • I am assuming you left NAB for a better deal? wouldn't NAB have tried to keep you by nego. a better deal for you?

        • They tried but we couldn't come to a deal we that I was happy with. My banker at NAB was great and tried to push her superiors to help out but it was a lot better off for me to leave. She was great and even gave me the info I needed when leaving without hesitation, after 2 years I'll definitely be contacting NAB again to see what they can do.

          • @jeppetto367: very interesting, is it differcult to leave? there must a heap of paperwork. We were considering swapping banks for a better deal, but didn't know what the process was.

            • +1

              @godofpizza: It depends on the each person/family's unique circumstance and the lender but I just went thru a refinance process, yes there was some paperwork, primarily around you asset, income and expenditure. I do a monthly review of our finances anyways so had them handy.

              However, before filling out any forms, do some quick calculation to work out how much you could save switching. surprisingly the calculator on moneysmart was a bit off, I ended up using Westpac's calculator. Don't forget any potential break fees, join fees or any other hidden fees.

              Lastly, if circumstance allows, check out some of the online only lenders, they tend to have lower rates if you are not after a fancy/complex loan, some of them have pretty streamlined application process as well.

            • +1

              @godofpizza: Honeslty not too hard. I spent probably 2 hours with NAB trying to refinance, and then another 3 hours with BankWest. After I was happy with everything I'd say there was only about 10 emails back and forth, and maybe 3-5 phone calls that were less than 10-15 minutes. BankWest were happy to work around me so I mostly did it on my lunch break. Being a Perth bank (and me being in Melbourne) though the time difference was good when needing to call them after work. It took about a month all up.

              For 5-8 hours work it was absolutely worth it, at the end of 2 years I'll be around $2-3k better off (I don't have a huge loan). This is the first time I'd moved banks so I was also quite interested to learn how it all works (was with NAB for 15 or so years before this, though only a few years with a Home Loan). After seeing how easy it was I'll definitely be shopping around every 2 years.

      • $80 break fee is very, very unusual. They are normally $3000+. ING tried to do me for $6666 when I wanted to break with half a year left. Obviously I stayed it out.

        • Yeah it was $83 or something like that, I thought it was extremely low but confirmed 3 times (didn't want to get hit with huge fees). When I first started looking the fee was only $33, though it took me a month of shopping aorund and it went up $50. Obviously a $50 difference is not a big deal when refinancing.

          My brother also has a home loan with NAB for a little less (I think) and he was quoted very similar fees, again about 12 months into a 24 month loan, so it wasn't just a one off.

        • if your loans not fixed the fees are typically nil to very little - I think there were rules introduced a few years ago to stop banks slugging people leaving unless they had fixed rate loans.

  • Whats the rate for an interest only?

    • Hi rakkihizoku,
      There were no announced changes to interest only rates so they remain the same as previously advertised. If you would like to compare various rates across multiple lenders you could try our online comparison tool.

  • I'm with ING and paying 2.93% (Orange Advantage with offset). Is this how you reward your customers? I'll call up tomorrow, if you don't offer me something better I'll take my home loan elsewhere.

    • They are all the same. Being a new customer always gets a better deal.

    • no you won't, just like the rest of the lazy people out there. You will call, you will whinge, but after 24 hours you will forget about it and keep paying 2.93% because it's easier to enjoy the sun instead of worry about switching service providers.

      story of my life.

      • Just spoke to my broker, can get exactly what I have now with Resimac with an interest rate of 2.14% variable (with offset, annual fee same at $299), so yeah, I will be changing if ING don't come to the party and contrary to what others say, if enough people change then they will pay attention.

    • +1

      I tried yesterday and they did not budge and frankly quite rude.

    • +2

      Why are there still people that think loyalty means anything to corporations? It hasn't been like that for like, two decades now.

      They want new customers; not make less money from current customers, and it makes total sense.

      They're not scared of losing your business. They're scared of not gaining new business.

    • I'm surprised people still think loyalty still pays. It mostly doesnt'. Just find a better deal and move. ING won't bat an eyelid and you'll save yourself a lot of stress and money.

    • Yeah I just moved my homeloan from ING last week to tictoc homeloans and got a rate of 1.89% with $10 per month for offset account.

    • I recommend Athena.

      • +1

        As soon as Athena offer offsets I think they'll gain a lot of customers

        • At 2% why would you offset

          • @airlie50501: Because people have different risk profiles, and even having your emergency fund offset could be worthwhile depending on size.

            Also a guaranteed 2% tax free compared to maybe 6%pa if you are happy with 10 years and don't definitely need the cash if everything crashes.

            • @kulprit: Use the redraw then if it’s your PPOR. Withdrawals are free and without tax implications.

              • @airlie50501: Lots of tax implications should you ever want to turn the property into an investment.

                Or debt recycle into the share market at a later date.

    • Sure you will.

    • +1

      Get ready for ING's sting in the tail. They have some of the highest exit fees in the business: $600+ vs many banks at $350.

    • Been an ING customer for around 5 years. The honeymoon period is over, they are rolling back a lot of the perks they offered in the beginning and as per everyone else's experience they were pretty reluctant to reduce rates. Have already commenced refinancing elsewhere.

      • Annal fee increase ($199>$299), used to get cash back on tap and go payments, used to get get back on mortgage payment & I believe they used to reimburse you any atm fee (this may still be the case)

  • What does net of offset mean practically? How long until I can put more into the offset and not impact that calculation?

    • Hi Gumbootboy,
      It means any loan amount minus any funds in redraw or offset, at settlement will result in the figure for utilised lending amount. For example, if you refinanced a loan of $750,000 but had 150,000 in redraw or offset. The calculated utilised lending amount would equate to $600,000.
      Timeframes vary from bank to bank. However, if you would like to know more information it is best to speak to one of our brokers.

  • Just curious, what happens if someone wants to switch loan providers during construction. There are significant delays in the construction of houses and interest rates have dropped a fair bit since last year. Are there any options in this case?

    • +1

      Hi Tech45,
      ING does not do construction loans. However, depending on your situation, there may be other solutions. Please get in contact with one of our brokers and we can help you find another option.

  • ING's website has the interest rate at 2.49%, not 2.24%?

    • Hi OzBrogains,
      The changes were announced to brokers today but are effective from 15 October 2021

  • Additional Broker Cashback available on refinance or purchase loan applications submitted through Loan Base until 30 September 2021.

    • Hi postman,
      Thanks, this has been updated to 30 November 2021

  • Ran the income numbers for borrowing capacity - St George will lend 20% more

  • In case anyone is on the fence, I used Loanbase when I last refinanced. The process went quite smoothly and they provided their Cashback promptly. I would not hesitate to use them again when I next refinance if they have a good deal available.

    • Hi Stan1912,
      Thanks for your vote of confidence. Glad we were able to assist you with your situation and we look forward to working with you in the future!

  • Is this cashback only for refinance ?

    • Hi x3n0n,
      For the ING cashback, it's only available for the refinance of an existing home loan from another lender to ING. However, if you are seeking a lender who is providing cashback for purchases, there are a small handful that do that. Please get in touch with one of our brokers to find out more.

  • Called them to review my interest, no success. Listened to half an hour of music. Asked my broker to try again next week.

  • +1

    I called them just now as existing customer (basic mortgage simplifer) got my variable rate reduced from 2.59% to 2.34% but they wouldn't match 2.24% for new customers.

    • +1

      Yep, that's also my experience… they will drop to 0.10% off the advertised rate, but never match it

      • +1

        yep, mine too. Thanks to this post though, I wouldn't have noticed the price reduction otherwise.

        • Same here, thanks tommyben! They offered me 2.59% at first but knowing you had been offered 2.34% I asked for a better rate and got the same. Cheers :)

  • I've been looking around home loans as FHB and stumbled on Well Home Loans ( Beside not a well known "big bank", they seen to have really low rates compared to other places. Is there any reason to go with known banks like ING here other than say… possible peace of mind?…
    The fees seem comparable too (unless I'm missing something)?

  • Is there a limit on how many offset accounts ING allows for?

    • Only the one

      • you can ask them to split your loans in two (works when refinancing or moving from part fixed to variable) and have separate offset account associated with the second loan. Essentially it will be one loan split into 2 with 2 offset accounts.

        Source: I have this arrangement :)

  • Generally ING will offer existing customers the fixed loan rates advertised on their site

    Variable is another story, you just need to be a pain in their arse and they will generally bring it down but I have never got the rate they offer new customers. Make sure you have other banks advertised rates handy before you go on the call though!

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