It comes hours ahead of the Reserve Bank board meeting, where it’s widely tipped the cash rate will be cut to a new historic low of 0.75%.

Being fixed-rate cuts, they apply to new customers only and are available from today.

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Owner-occupier home loan rate cuts

ING made rate cuts to its standard residential fixed home loans by up to 65 basis points.

  • One-year Residential Fixed has been cut by 61 basis points to 3.24% p.a. (4.41% p.a. comparison rate*)
  • Two-year Residential Fixed has been cut by 50 basis points to 3.19% p.a. (4.29% p.a. comparison rate*)
  • Three-year Residential Fixed has been cut by 55 basis points to 3.19% p.a. (4.18% p.a. comparison rate*)
  • Four-year Residential Fixed has been cut by 65 basis points to 3.54% p.a. (4.20% p.a. comparison rate*)
  • Five-year Residential Fixed has been cut by 55 basis points to 3.54% p.a. (4.13% p.a. comparison rate*)

ING also cut fixed rates for owner-occupiers with an Orange Advantage home loan.

  • One-year Orange Advantage Residential Fixed for borrowers with a loan size over $150K has been cut by 61 basis points to 3.14% p.a. (4.40% p.a. comparison rate*)
  • Two-year Orange Advantage Residential Fixed for borrowers with a loan size over $150K has been cut by 50 basis points to 3.09% p.a. (4.27% p.a. comparison rate*)
  • Three-year Orange Advantage Residential Fixed for borrowers with a loan size over $150K has been cut by 55 basis points to 3.09% p.a. (4.16% p.a. comparison rate*)
  • Four-year Orange Advantage Residential Fixed for borrowers with a loan size over $150K has been cut by 65 basis points to 3.44% p.a. (4.17% p.a. comparison rate*)
  • Five-year Orange Advantage Residential Fixed for borrowers with a loan size over $150K has been cut by 55 basis points to 3.44% p.a. (4.09% p.a. comparison rate*)

Investor home loan rate cuts

Investors haven’t missed out, with rates being cut by up to 75 basis points for borrowers making principal and interest(P&I) repayments.

  • One-year Investment Fixed for borrowers making P&I repayments has been cut by 75 basis points to 3.54% p.a. (5.04% p.a. comparison rate*)
  • Two-year Investment Fixed for borrowers making P&I repayments has been cut by 70 basis points to 3.49% p.a. (4.88% p.a. comparison rate*)
  • Three-year Investment Fixed for borrowers making P&I repayments has been cut by 60 basis points to 3.49% p.a. (4.75% p.a. comparison rate*)
  • Four-year Investment Fixed for borrowers making P&I repayments has been cut by 75 basis points to 3.84% p.a. (4.74% p.a. comparison rate*)
  • Five-year Investment Fixed for borrowers making P&I repayments has been cut by 75 basis points to 3.84% p.a. (4.64% p.a. comparison rate*)

For investors wishing to make interest-only (IO) repayments, fixed rates were cut by up to 50 basis points

  • One-year Investment Fixed for borrowers making IO repayments has been cut by 50 basis points to 3.79% p.a. (5.41% p.a. comparison rate*)
  • Two-year Investment Fixed for borrowers making IO repayments has been cut by 45 basis points to 3.74% p.a. (5.29% p.a. comparison rate*)
  • Three-year Investment Fixed for borrowers making IO repayments has been cut by 35 basis points to 3.74% p.a. (5.18% p.a. comparison rate*)
  • Four-year Investment Fixed for borrowers making IO repayments has been cut by 50 basis points to 4.09% p.a. (5.17% p.a. comparison rate*)
  • Five-year Investment Fixed for borrowers making IO repayments has been cut by 50 basis points to 4.09% p.a. (5.09% p.a. comparison rate*)

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