ING Australia
ING Australia today announced new measures to continue supporting customers and small businesses impacted by COVID-19.
The unprecedented spread of COVID-19 is having a wide reaching impact on individuals and communities across the country. ING wants to assure customers that we are ready to support their needs.
We encourage customers who are facing difficulties to contact us so that we can provide help with their home loans, personal loans or commercial loans.
Measures to support our customers
Customers may be eligible for:
- Repayment deferrals of up to 6 months on commercial loans for small business customers.
- A 3 to 6 month payment pause on home loans and personal loans for those in need.
- A 3 to 6 month payment pause on credit cards.
- Record low fixed rates for home loan borrowers and higher term deposit rates for savers.
- A cut of 0.35% p.a. to rates for existing commercial variable loans (under $3 million), effective from 9 April 2020.
ING's dedicated specialist support team is available on 133 464.
Home loan rates
New fixed home loan rates, including a record low 2.09% p.a. two year owner occupied fixed rate (when also holding an Owner Occupier Orange Advantage loan account), will be effective from 26 March 2020.
Owner Occupied Fixed Rates with Orange Advantage (Principal & Interest)
Principal & Interest New Interest Rate (p.a.) New Comparison Rate (p.a.)*
1 Year Fixed Rate 2.19% 3.95%
2 Year Fixed Rate 2.09% 3.77%
3 Year Fixed Rate 2.14% 3.62%
4 Year Fixed Rate 2.49% 3.59%
5 Year Fixed Rate 2.54% 3.50%
Owner Occupied Fixed Rates (Principal & Interest)
Principal & Interest New Interest Rate (p.a.) New Comparison Rate (p.a.)*
1 Year Fixed Rate 2.29% 3.96%
2 Year Fixed Rate 2.19% 3.79%
3 Year Fixed Rate 2.24% 3.65%
4 Year Fixed Rate 2.59% 3.63%
5 Year Fixed Rate 2.64% 3.54%
Investor Fixed Rates (Principal & Interest)
Principal & Interest New Interest Rate (p.a.) New Comparison Rate (p.a.)*
1 Year Fixed Rate 2.74% 4.60%
2 Year Fixed Rate 2.64% 4.41%
3 Year Fixed Rate 2.69% 4.25%
4 Year Fixed Rate 3.04% 4.18%
5 Year Fixed Rate 3.09% 4.03%
Investor Fixed Rates (Interest Only)
Interest Only New Interest Rate (p.a.) New Comparison Rate (p.a.)*
1 Year Fixed Rate 2.89% 4.99%
2 Year Fixed Rate 2.79% 4.83%
3 Year Fixed Rate 2.84% 4.70%
4 Year Fixed Rate 3.19% 4.66%
5 Year Fixed Rate 3.24% 4.57%
Variable home loan rates remain unchanged.
Savings rates
Increases of up to 0.25% p.a. have been introduced for some term deposit rates, effective 26 March 2020, as follows.
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