ING cuts fixed home loan rates by up to 42 basis points

A total of 10 fixed-rate ING home loans have had their rates slashed, with four-year Residential Fixed and Orange Advantage Residential Fixed products receiving the biggest cuts of 42 basis points.

Other cuts were made to one-year (11 basis points), two-year (seven basis points), three-year (six basis points) and five-year (21 basis points) Residential Fixed and Orange Advantage Residential Fixed products.

The 11 basis point cut to ING’s Orange Advantage Fixed one-year product places its rate in the top five lowest rates for fixed home loans on Canstar’s database (at the time of writing).

Top 5 fixed residential interest rates on Canstar

Rates based on fixed owner-occupier home loans available for a loan amount of $350,000 at 80% LVR (principal & interest). Table sorted by current rate.

After its 21 basis point rate cut, ING’s Orange Advantage Fixed five-year product now has the lowest five-year fixed rate on Canstar’s database (at the time of writing).

Top 5 5-year fixed residential interest rates on Canstar

Rates based on five-year fixed owner-occupier home loans available for a loan amount of $350,000 at 80% LVR (principal & interest). Table sorted by current rate.

ING follows UBank who decreased fixed owner-occupier rates last week, while others such as Greater Bank and CUA recently lowered rates on fixed investment products.