ING
Effective Dates: 4 March 2025
Repayment Adjustments
- Principal & Interest Loans: Minimum repayments will automatically adjust from 15 March 2025.
- Interest-Only Loans: Repayment adjustments take effect from 1 April 2025.
- Customers with ING Variable Home Loans on principal and interest repayments may see a reduction in their minimum repayment amount.
- For example, a customer with a $500,000 Mortgage Simplifier home loan and 25 years remaining could save approximately $76 per month with a new interest rate of 5.89% p.a. (comparison rate 5.92% p.a.). This calculation assumes the customer consistently meets minimum repayments and makes no other changes to their loan.
- All customers with an ING variable rate home loan will receive an electronic or postal notification confirming their new interest rate and its impact on their minimum repayment amount.
- The specific impact will vary depending on individual loan details.
- Customers can check their current ING home loan interest rate and repayment amount anytime via the ING app or online banking at ing.com.au
- To view their new interest rate, customers can log in from 4 March 2025. Principal and interest loan customers can see their updated repayment amount from 5 March 2025.
