ING Direct

ING Direct (ING Bank Australia Ltd) revolutionised banking in Australia with its products that are simple, straightforward, and offer good value. It is a leading direct savings bank that is wholly owned by the ING Group.

The bank does its business over the phone and online. This helps keep its overhead low, so they could pass on the savings to their customers.

It began serving Australians in 1999 with its Savings Maximiser account. This allowed customers to take out mortgages that are simple and straightforward. Then in 2010, it launched Orange Everyday, a payment account that has no ATM fees and monthly account keeping fees for customers who withdraw over $200. Two years later, Living Super was launched, which is a Balanced superannuation option that charges no admin or management fees for Australians -- the first of its kind in the country.

Today, it has over 1.4 million customers in Australia, and is regulated by the Australian Prudential Regulation Authority (APRA). It currently handles $30 billion in deposits and $38 billion in mortgages.

ING Direct’s Products and Services

Here is an overview of the products and services that ING Direct offers:

1. Orange Everyday. This is the company’s everyday bank account. This offers debit card and 2% cashback options to account holders. In addition, no monthly fees are charged with this card, and ATMs are free to use in Australia when withdrawing $200 or more.

2. Savings. ING Direct’s savings accounts feature competitive interest rates, no fees, and rewards. Under this are the Savings Maximiser, Personal Term Deposit, and Savings Accelerator products.

3. Home loans. Mortgages taken out with ING Direct offer simplicity, great value, and competitive rates. Customers may choose from these home loans: Orange Advantage, Mortgage Simplifier, Smart Home Loan, and Action Equity Loan.

4. Superannuation. The bank helps customers retire with its simple retirement solutions that suit their individual lifestyle. Under this are: Living Super, SMSF Cash, and SMSF Term Deposits.

5. Business. Businesses may also take advantage of ING Direct’s services with the bank’s competitive business savings and commercial mortgage accounts. Business Optimiser, Business Term Deposit, Priority Commercial Mortgages, and Commercial Property Finance are the options to choose from under this service.

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Important Information

Not all providers in the market are included in the comparison.

Any information or advice contained on this website is general in nature and has been prepared without taking into account your objectives, financial situation or needs.

Please note that due to recent changes by numerous lenders, some rates may be slightly incorrect. We shall have this resolved shortly.

Comparison Rate is based on all fees, charges and interest over the term of a standard loan of $150,000 for 25 year.

ING Direct Home Loans Loan Type Initial Rate Comparison Rate  
ING Direct
ING Direct
Variable 3.89% 4.11%  
  • Revert Rate: 3.89%
  • Maximum LVR: 80.00%
  • Monthly Payment: $783
  • Total Cost: $90,076
  • Total Interest: $84,802
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Offset Account: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
Variable 3.89% 4.11%  
  • Revert Rate: 3.89%
  • Maximum LVR: 80.00%
  • Monthly Payment: $783
  • Total Cost: $90,076
  • Total Interest: $84,802
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Offset Account: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
3 Years Fixed 3.99% 4.54%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $109,245
  • Total Interest: $103,971
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
Variable 4.04% 4.06%  
  • Revert Rate: 4.04%
  • Maximum LVR: 80.00%
  • Monthly Payment: $795
  • Total Cost: $88,821
  • Total Interest: $88,522
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
2 Years Fixed 4.04% 4.60%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $109,245
  • Total Interest: $103,971
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
3 Years Fixed 4.09% 4.56%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
2 Years Fixed 4.09% 4.66%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Investment: Yes
ING Direct
ING Direct
3 Years Fixed 4.09% 4.66%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Investment: Yes
ING Direct
ING Direct
1 Year Fixed 4.09% 4.67%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $109,245
  • Total Interest: $103,971
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
2 Years Fixed 4.14% 4.62%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
1 Year Fixed 4.14% 4.66%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Investment: Yes
ING Direct
ING Direct
1 Year Fixed 4.19% 4.68%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
5 Years Fixed 4.29% 4.56%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $109,245
  • Total Interest: $103,971
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
4 Years Fixed 4.34% 4.60%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $109,245
  • Total Interest: $103,971
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
5 Years Fixed 4.39% 4.60%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
5 Years Fixed 4.39% 4.66%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Investment: Yes
ING Direct
ING Direct
1 Year Fixed 4.41% 5.96%  
  • Revert Rate: 6.07%
  • Maximum LVR: 90.00%
  • Monthly Payment: $973
  • Total Cost: $146,009
  • Total Interest: $141,864
  • Total Fees: $4,145
  • Upfront Fee: $545
  • Monthly Fee: $12
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Investment: Yes
ING Direct
ING Direct
4 Years Fixed 4.44% 4.64%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Interest Only Payments: Yes
  • Owner Occupier: Yes
ING Direct
ING Direct
4 Years Fixed 4.49% 4.66%  
  • Revert Rate: 4.65%
  • Maximum LVR: 80.00%
  • Monthly Payment: $847
  • Total Cost: $104,270
  • Total Interest: $103,971
  • Total Fees: $299
  • Upfront Fee: $299
  • Investment: Yes
ING Direct
ING Direct
2 Years Fixed 4.50% 5.83%  
  • Revert Rate: 6.07%
  • Maximum LVR: 90.00%
  • Monthly Payment: $973
  • Total Cost: $146,009
  • Total Interest: $141,864
  • Total Fees: $4,145
  • Upfront Fee: $545
  • Monthly Fee: $12
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Investment: Yes
ING Direct
ING Direct
Variable 4.54% 4.75%  
  • Revert Rate: 4.54%
  • Maximum LVR: 80.00%
  • Monthly Payment: $837
  • Total Cost: $106,421
  • Total Interest: $101,147
  • Total Fees: $5,274
  • Upfront Fee: $299
  • Annual Fee: $199
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Offset Account: Yes
  • Investment: Yes
ING Direct
ING Direct
3 Years Fixed 4.54% 5.72%  
  • Revert Rate: 6.07%
  • Maximum LVR: 90.00%
  • Monthly Payment: $973
  • Total Cost: $146,009
  • Total Interest: $141,864
  • Total Fees: $4,145
  • Upfront Fee: $545
  • Monthly Fee: $12
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Investment: Yes
ING Direct
ING Direct
Variable 4.69% 4.71%  
  • Revert Rate: 4.69%
  • Maximum LVR: 80.00%
  • Monthly Payment: $850
  • Total Cost: $105,301
  • Total Interest: $105,002
  • Total Fees: $299
  • Upfront Fee: $299
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Investment: Yes
ING Direct
ING Direct
4 Years Fixed 4.70% 5.66%  
  • Revert Rate: 6.07%
  • Maximum LVR: 90.00%
  • Monthly Payment: $973
  • Total Cost: $146,009
  • Total Interest: $141,864
  • Total Fees: $4,145
  • Upfront Fee: $545
  • Monthly Fee: $12
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Investment: Yes
ING Direct
ING Direct
5 Years Fixed 4.84% 5.63%  
  • Revert Rate: 6.07%
  • Maximum LVR: 90.00%
  • Monthly Payment: $973
  • Total Cost: $146,009
  • Total Interest: $141,864
  • Total Fees: $4,145
  • Upfront Fee: $545
  • Monthly Fee: $12
  • Extra Repayments: Yes
  • Redraw Facility: Yes
  • Interest Only Payments: Yes
  • Investment: Yes