ING home loan review
Also known as ING Bank Australia, ING Direct
ING is a good choice for borrowers who want either a genuinely fee-free variable loan (Mortgage Simplifier) or a 100% offset for a modest $299 annual fee (Orange Advantage). It lends up to 95% LVR with LMI. It doesn't take part in the 5% Deposit Scheme and has no branches.
This review covers ING's loans, its LVR-tiered pricing, the fixed-rate extra repayment limit, and how ING compares with Macquarie and ubank.
By Better Rate Mate Editorial Team · Last reviewed · Checked against ING's own website
Latest ING variable rate change
On 30 September 2026 ING announced a 0.25% p.a. rise in its variable home loan rates for new and existing customers. It took effect on 9 October 2026. ING's announcement (checked 10 October 2026). For today's rates, see ING's rates page.
ING home loans at a glance
| Feature | ING |
|---|---|
| Offset account | 100% offset on Orange Advantage via Orange Everyday |
| Annual fee | $0 on Mortgage Simplifier; $299 on Orange Advantage |
| Redraw | Yes on variable loans |
| Split loans | Yes (Orange Advantage split discount for owner-occupiers) |
| Fixed terms | 1 to 5 years |
| Extra repayments while fixed | Under $10,000 a year to avoid break costs |
| Maximum LVR | Rate tiers up to 95% (including any LMI) |
| Ways to apply | Online or by phone |
| 5% Deposit Scheme | Not a participating lender |
ING mortgage and home loan repayment calculator
Enter the rate for the ING loan you're considering (from its rates page), your loan amount and term. The calculator uses the standard principal and interest formula lenders use, so for the same rate, amount and term it gives the same repayment as ING's own calculator. It doesn't include fees or future rate changes. For the maths and assumptions, see our mortgage repayment calculator page, and test your buffer with the stress test calculator. If you're buying, you can also estimate your stamp dutyand work out how much you can borrow.
Mortgage repayment calculator
Repayments and total interest, with optional extra repayments, an offset account or an interest-only period.
Monthly repayment
$2,997.75
| Loan amount | $500,000 |
|---|---|
| Interest rate | 6.00% a year |
| Time to repay | 30 years |
| Total repayments | $1,079,191 |
| Total interest paid | $579,191 |
Year-by-year balance
| Year | Interest | Principal repaid | Balance |
|---|---|---|---|
| 1 | $29,833 | $6,140 | $493,860 |
| 2 | $29,454 | $6,519 | $487,341 |
| 3 | $29,052 | $6,921 | $480,420 |
| 4 | $28,625 | $7,348 | $473,073 |
| 5 | $28,172 | $7,801 | $465,272 |
| 6 | $27,691 | $8,282 | $456,990 |
| 7 | $27,180 | $8,793 | $448,197 |
| 8 | $26,638 | $9,335 | $438,862 |
| 9 | $26,062 | $9,911 | $428,951 |
| 10 | $25,451 | $10,522 | $418,429 |
| 11 | $24,802 | $11,171 | $407,257 |
| 12 | $24,113 | $11,860 | $395,397 |
| 13 | $23,381 | $12,592 | $382,805 |
| 14 | $22,605 | $13,368 | $369,437 |
| 15 | $21,780 | $14,193 | $355,244 |
| 16 | $20,905 | $15,068 | $340,176 |
| 17 | $19,975 | $15,998 | $324,178 |
| 18 | $18,989 | $16,984 | $307,194 |
| 19 | $17,941 | $18,032 | $289,162 |
| 20 | $16,829 | $19,144 | $270,018 |
| 21 | $15,648 | $20,325 | $249,693 |
| 22 | $14,395 | $21,578 | $228,115 |
| 23 | $13,064 | $22,909 | $205,205 |
| 24 | $11,651 | $24,322 | $180,883 |
| 25 | $10,151 | $25,823 | $155,060 |
| 26 | $8,558 | $27,415 | $127,645 |
| 27 | $6,867 | $29,106 | $98,539 |
| 28 | $5,072 | $30,901 | $67,638 |
| 29 | $3,166 | $32,807 | $34,831 |
| 30 | $1,142 | $34,831 | $0 |
Stress test this loan at higher rates, or see how much you can borrow.
An estimate: interest is charged at the repayment frequency and the rate never changes. It leaves out fees, redraws and rate changes, and assumes the lender accepts extra repayments. Check fixed rate loans for an extra repayment limit, and confirm figures with your lender.
Is ING good for home loans?
ING is a good choice for borrowers who want either a genuinely fee-free variable loan (Mortgage Simplifier) or a 100% offset for a modest $299 annual fee (Orange Advantage).
Pros
- +Mortgage Simplifier has no ongoing monthly or annual fees
- +100% offset for $299 a year on Orange Advantage
- +Lends up to 95% LVR with LMI
- +No variation fees on Orange Advantage
Cons
- -Not part of the 5% Deposit Scheme
- -No branches
- -Fixed loans trigger break costs from $10,000 of extra payments in a year
- -Fixed rates aren't available to investors with less than a 20% deposit
Who ING suits
- Borrowers who want a no-fee variable loan
- Savers who will keep a meaningful balance in an offset
- Buyers with a 5% to 10% deposit who are prepared to pay LMI
About ING
ING Bank (Australia) is an APRA-regulated authorised deposit-taking institution and part of the global ING Group. It operates without branches, with applications online or by phone.
ING's home loans are Mortgage Simplifier (variable, no ongoing fees), Orange Advantage (variable with 100% offset through the Orange Everyday account), Fixed Rate loans of one to five years, and the Green Upgrade Loan for energy-efficiency improvements.
- Ownership
- Part of the global ING Group.
- Lender and licence
- ING Bank (Australia) Ltd ABN 24 000 893 292
ING home loan products
Mortgage Simplifier
A variable loan with no ongoing monthly, annual or transaction fees, unlimited additional repayments and redraw.
Orange Advantage
A variable loan with a 100% offset through a linked Orange Everyday account, a $299 annual fee and no variation fees. Owner-occupiers who split the loan get a fixed-rate discount.
Fixed Rate Loan
Fixed terms of one to five years. Break costs may apply if you make additional payments totalling $10,000 or more in any one-year period. Not available for investment loans with a deposit under 20%.
Green Upgrade Loan
A five-year fixed loan for energy-efficiency upgrades, with no upfront fees or break fees.
ING home loan rates: how they are set
ING prices in LVR tiers: 60% or less, 60.01% to 70%, 70.01% to 80%, 80.01% to 90% and 90.01% to 95%, with a minimum total borrowing of $150,000 for the published principal and interest rates. The lower your LVR, the lower your rate.
Mortgage Simplifier's advertised rate is for owner-occupied principal and interest loans of $150,000 or more at 80% LVR or less. Orange Advantage costs $299 a year, so it only beats Mortgage Simplifier if the interest your offset balance saves exceeds the fee plus any rate difference.
For a benchmark, the RBA's average rate on new owner-occupier variable loans across all lenders was 6.23% in August 2026, and 6.40% for investors (published 8 October 2026). The RBA's cash rate target was 4.60% as at 10 October 2026, after a 0.25 point rise effective 30 September 2026; its next decision is due on 3 November 2026.
Orange Advantage or Mortgage Simplifier?
Choose Orange Advantage only if the interest your offset balance saves is worth more than its $299 annual fee plus any difference in rate from Mortgage Simplifier, which has no ongoing monthly or annual fees. Check both rates for your LVR on ING's site, then do the sum.
As an illustration at 6.23%, an average offset balance of about $4,800 covers the $299 fee on its own. If Orange Advantage's rate were 0.10 percentage points higher on a $500,000 loan, that would cost about another $500 a year, so you'd need an average of about $12,800 in the offset to come out ahead. Owner-occupiers who split an Orange Advantage loan also get a fixed-rate discount, which may tip the balance if you plan to fix part of the loan.
ING vs Macquarie
Both are branchless banks that price by LVR. Macquarie's Offset Home Loan allows up to 10 offset accounts for a $248 annual fee; ING's Orange Advantage gives one 100% offset through Orange Everyday for $299. Macquarie charges a $350 documentation fee on both of its loans. See our Macquarie review.
ING vs ubank
Both are digital, but ING is an independent bank while ubank is part of NAB. ING's Mortgage Simplifier has no ongoing fees; ubank charges a $250 loan advance fee and a $300 discharge fee. ING publishes rate tiers up to 95% LVR. See our ubank review.
How to apply for an ING home loan
- 1
Choose Mortgage Simplifier or Orange Advantage and check the rate for your LVR tier
- 2
Apply online or by phone on ING's home loan line
- 3
ING assesses serviceability and values the property
- 4
Approval, then sign the loan documents
- 5
Settlement; open and link Orange Everyday if you chose Orange Advantage
Check how much you could borrow with our borrowing power calculator; ING's own calculator applies its own lending policy, so its figure can differ.
Budget for stamp duty: NSW stamp duty calculator · VIC stamp duty calculator · QLD stamp duty calculator · WA stamp duty calculator · SA stamp duty calculator · TAS stamp duty calculator · ACT stamp duty calculator · NT stamp duty calculator
Before you apply, ask for the key facts sheet for your loan amount. Every lender must provide one in the same format, which makes loans easy to compare side by side.
ING home loan questions
Does ING have an offset account?
Yes, on Orange Advantage. Money in a linked Orange Everyday account offsets 100% of the interest on the loan. Mortgage Simplifier has redraw but no offset.
What is the Orange Advantage annual fee?
$299 a year, with no ongoing monthly fees and no variation fees. Discharge and other fees can still apply.
Can I get an ING home loan with a 5% deposit?
ING publishes rates for LVRs up to 95% including any LMI, so a 5% deposit loan is possible subject to approval and LMI. ING isn't part of the 5% Deposit Scheme, so the scheme's LMI waiver doesn't apply.
Will mortgage rates drop to 3% again?
Nobody can say, and we don't forecast rates. The RBA's average rate on new owner-occupier variable loans was last below 3% between April 2020 and May 2022. See will mortgage rates drop to 3% again? for the RBA's latest figures.
Has ING changed its home loan rates after the September 2026 rate rise?
Yes. On 30 September 2026 ING announced that its variable home loan rates for new and existing customers would rise by 0.25% p.a. from 9 October 2026, after the RBA's 29 September decision (ING newsroom, checked 10 October 2026). Check ING's site for its current rates.
Is Orange Advantage worth the $299 annual fee?
Only if your average offset balance saves more interest than the fee plus any rate difference from Mortgage Simplifier. At 6.23%, about $4,800 in offset covers the $299 fee alone.
How much extra can I pay on an ING fixed loan?
Break costs may apply if your additional payments total $10,000 or more in any one-year period of the fixed term, so keep extra payments under that.
