ING Direct has eliminated interest-only repayments on new applications for its owner occupied fixed rate loans, effective from today (6 June). These fixed rates will still be available for principal & interest owner occupied loans.
A number of fixed rate changes have also come into effect from today on ING Direct’s owner occupied three and five year fixed rates (combined with Orange Advantage) to 3.79% p.a. and 4.19% p.a. respectively.
The bank has also made reductions to its standard owner occupied three and five year fixed rates as well as its three year investment fixed rate. All changed rates are outlined in the table below:
Fixed rate loan type New interest rate New comparison rate Owner occupied with Orange Advantage 3 year fixed rate 3.79% p.a. 4.48% p.a. 5 year fixed rate 4.19% p.a. 4.51% p.a. Owner occupied 3 year fixed rate 3.89% p.a. 4.51% p.a. 5 year fixed rate 4.29% p.a. 4.56% p.a. Investment 3 year fixed rate 4.39% p.a. 4.82% p.a.
