ING Australia

ING Australia: digital banking and financial services in Australia

ING Australia is a financial institution operating in Australia with a range of banking, insurance and superannuation products aimed at individual customers and businesses. Its offering is built around digital banking, with account management, payments and tools available through the mobile app and online banking. The institution's website presents a broad catalogue covering everything from everyday accounts to home loans, insurance and superannuation funds.

Personal accounts and savings

In personal banking, ING Australia offers the Orange Everyday account for daily transactions and several savings options. These include Savings Maximiser, with a competitive variable interest rate; Savings Accelerator, a high-interest tiered savings account with no monthly requirements; Savings Booster, which rewards saving; and the Personal Term Deposit, with a fixed interest rate guaranteed for the term chosen by the customer. The institution also provides tools such as savings calculators, account comparison tools and a budgeting strategy, as well as Everyday Round Up and PayID payments.

Credit cards and personal loans

The card range includes Orange One Low Rate, a low-interest card, and Orange One Rewards Platinum, a platinum card with cashback rewards. Customers can manage them through the mobile app and services such as Apple Pay and Google Pay. In personal loans, ING Australia offers an unsecured personal loan with a low fixed rate and no early repayment fees, along with specific options for buying a car, home renovations, weddings, travel and debt consolidation. The institution provides borrowing power and repayment calculators, as well as a Canstar comparison tool.

Home loans and mortgages

For buying or refinancing a home, the catalogue includes the Mortgage Simplifier loan, with a low variable rate and no monthly or annual fees; Orange Advantage, which includes a 100% interest offset when linked to the Orange Everyday account; the Fixed Rate Loan for terms of one to five years; and the Green Upgrade Loan, a five-year loan with a low fixed rate and no upfront or break fees. The website offers borrowing power, repayment and interest rate calculators, as well as tools to manage the loan and request variations.

Insurance

ING Australia distributes car, health, home and contents, motorcycle, pet and travel insurance. Car insurance includes comprehensive cover that protects your own vehicle and damage caused to third parties, and a third party liability option with cover up to 20 million Australian dollars for accidental damage to other people's vehicles and property. Home and contents insurance covers fire, storm and theft, with a 24/7 claims service and $20 million legal liability cover. Health insurance offers hospital and extras cover options, with benefits such as the Accidental Injury Benefit, no surprises on Extras and a 4% direct debit discount. The institution applies promotional discounts of 15% on the first year's premium for car, motorcycle and pet policies purchased online, and 30% for the combined home and contents policy purchased online, subject to conditions. Travel insurance is listed as not available for sale at the time of consultation, with support for policies purchased before 18 March 2020.

Superannuation and pension funds

In superannuation, ING Australia offers Living Super, a retirement solution with investment options, and services for self-managed super funds (SMSF), including a cash account with a variable interest rate, a term deposit with a fixed interest rate and tools to calculate and explore investment options such as ETFs, shares and LICs.

Business banking

For business customers, the institution offers savings accounts such as Business Optimiser, with 24/7 access and a variable rate, and term deposits with a fixed interest rate, including a wholesale option tailored to cash flow needs. In financing, it offers commercial loans for investors refinancing or buying commercial property, with tiers ranging from 500,000 to 5,000,000 Australian dollars and transactions of 5,000,000 or more, as well as the Business Green Upgrade Loan to finance energy efficiency improvements in commercial properties.

Customer service and security

The institution makes it easy for customers to get in touch through messages in the app or online banking, with a response within 24 hours. It has help and support sections, security and scam protection information, and financial support and additional care resources. The site also publishes editorial content on personal finance, such as tips on money minimalism, preparing for unexpected events, renovations and event budgets.