Orange Advantage Fixed Rate Loan 1 Yr Orange Advantage Fixed Rate Loan 1 Yr $150K-$499,999 LVR 80% (Owner Occupied)

  • 3.69%
    p.a Fixed
  • 3.91%
    p.a Comparison**
  • $299
    Upfront fees
  • $299
    Annual fees
  • 80%
    Max LVR
  • $1,832
    Per Month*

About ING DIRECT

ING, also known as ING Direct, believe that they reinvented the way Australians bank by delivering simple, straightforward banking and good value products. ING DIRECT (the trading name of ING Bank (Australia) Limited) is the world's leading direct savings bank and is wholly owned by ING Group. Their motto is: simplicity is best, which also translates to the ING success story. Offering loan packages that are simple and easy to understand is just the start. Keeping general overheads low has made it easy to pass on the savings to their customers.

Fixed 1 Year

Loan switches to variable at the end of the fixed period.

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,832
rate per annum
3.69%

Standard Variable

Repayments calculated to take into account ongoing monthly and anual fees.

Monthly repayment*
$1,832
rate per annum
3.79%

Loan to Value Ratio

Borrow up to the maxium of 80% of the value of the property.

Lenders Mortgage Insurance, or LMI, will be payable on most loans where the borrowings are greater than 80% of the value of the property.

However, you may be able to capitalise LMI into your loan, increasing the overall loan amount by about 2% (in order to cover the cost of the insurance). Contact a loan market broker to find out how LVR and LMI might impact the cost of your loan repayments.

Lvr
80%
Capitalise LMI
No

Availability

For Owner Occupied in NSW, NT, QLD, SA, WA, VIC, TAS, and ACT.

Term
1 - 30 years
Min
$150,000
Max
$499,999

Eligibility

The level of financial documentaion and credit history required to apply for the loan.

Financials
Full Doc
Credit History
Conforming
Genuine Saving
Not Required

Redraw Facility

Get quick access to cash by drawing on the loan to pay for renovations or other purchases.

Redraw Facility
No
Min Redraw
$0
Redraw fee
$0

Banking Features

Given the wide range of loans on offer – with different interest rates, product features and fees – it pays to shop around to find the loan that fits your needs and circumstances. Some loans offer features that may be appropriate for your situation and result in savings over the life of the loan.

Some features you may wish to consider include:

  • an offset account;
  • ability to make extra repayments;
  • a redraw facility; and
  • linked credit card and savings accounts;
  • ability to split your loan between fixed and variable interest rates
Offset Account
No
Redraw Available
No
Credit Card
Yes
Internet Banking
Yes
Telephone Banking
Yes
BPay Option
Yes
Portability of Loan
Yes
Professional Pack
Yes
Check Account
No
Direct Salary Credit
Yes
Free Transactions
Yes
Minimum Redraw
No
Redraw Fee
No

Repayments

You can make your repayments Fortnightly and Monthly.

Interest Only Option
No
Max Interest Only
0 years

Upfront Fees

Upfront fess associated with estabilishing the loan. Other loan set-up fees, such as valuation fees and lender's mortgage insurance, and Government charges, such as registration fees and stamp duty on property transfer, have not been included. These will be determined after application.

Total
$299
Settlement
$299

Ongoing Fees

Monthly and annual fees and charges during the loan period.

Total
$299
Ongoing Yearly
$299

Exit Fees

Fees associated with prematurely ending the loan.

Total
$250
Exit
$250
Early Repayment
$0
Switch To Fixed
$0

Notes

PLEASE NOTE: This fixed rate loan product is only available to borrowers who take out at least one Orange Advantage Variable Rate facility, otherwise standard Fixed Rate product will apply. Owner Occupied: Where a Fixed Rate Loan is combined with an Orange Advantage (100% Interest Offset) Home Loan, a fixed interest rate discount will apply to the standard fixed rates. Only available to current or new Orange Advantage loan customers. Interest in Advance customers will not receive both IIA and Orange Advantage discounts. Important points to note for the above promotions: Applicable for new applications with new to ING DIRECT security property Standard pre and post settlement fees and charges apply, including Fixed Rate Lock In fees (where applicable) Borrowers requiring the security of a fixed rate and the freedom to make additional payments (less than $10,000 in any 1-year period without incurring break costs). Max loan amount of $2,000,000 for total facility subject to ING DIRECT’s credit approval criteria. Higher amounts may be available on a case by case basis and at ING DIRECT’s discretion Key Benefits: No monthly account keeping fees - No annual fees - No transaction fees - Interest rate discount (off the standard 1-5 year fixed rate) Portable, substitution of security subject to credit assessment. Can be combined with Mortgage Simplifier, Smart Home Loan and Action Equity. No maximum number of splits

LVR Notes

No LMI required for <80% LVR.

Fee Notes

$0 application and split fee. No ING DIRECT variation fee payable. Applies to variations to the Orange Advantage post settlement. ING will cover the cost of the initial valuation regardless of cost of the valuation.

*Monthly Repayments

Monthly repayments are calculated to take into account the loan amount, repayment term and ongoing fees and charges over the life of the loan.

  • Variable rate loans show the monthly repayments at the current rate.
  • Fixed rate loans show the monthly repayment during the fixed period only.
  • Monthly repayment calculations are an approximate guide only. Speak to a LoanMarket Mortgage broker to understand the exact cost of a loan given your particular circumstances.

**Comparison Rates

A comparison rate is a tool to help consumers identify the true cost of a loan. It factors in the interest rate, loan amount, repayment term and ongoing fees and charges and displays this as a single percentage rate that can be used to compare various loans from different lenders.

Monthly Repayment and Comparison Rate* calculations do not include:

  • The use of account features such as early repayments and offset accounts which vary widely among loans and can reduce the cost of a loan significantly.
  • Cost savings such as fee waivers or special rate discounts.
  • Fees and charges associated with loan options or events that may or may not be used by the borrower, such as early repayment or redraw fees
  • Lenders Mortgage Insurance (LMI) which may be required to secure the loan and can increase the cost of the loan.
  • Government charges such as stamp duty or mortgage registration fees.
  • Fees and charges which aren’t available at the time the comparison rate is provided