ING to offer $3,000 cashback in home loans cash splash

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on July 02, 2021
ING to offer $3,000 cashback in home loans cash splash

As term funding facility drawdowns come to a close, ING now offers refinancing customers $3,000 cashback on home loan products.

ING is offering the cashback deal on all fixed and variable home loans, provided there's at least $500,000 remaining on the loan.

Borrowers must apply by 30 September, and have the home loan settled by 31 December.

ING currently offers fixed home loan rates for owner occupiers from 1.84% p.a. (3.73% p.a. comparison rate*), which applies to the two-year fixed home loan with Orange Advantage offset account.

Other lenders to have offered cashback deals include Westpac and subsidiaries St. George, Bank of Melbourne and BankSA, and 86 400, among others.

Compared to other lenders, however, ING's minimum refinancing rate of $500,000 is much higher; many other lenders require a minimum of around $150,000 to $250,000. 

Below you can compare a range of other lenders' home loans with special offers, including cashback deals.

Lender
Advertised rate Comparison rate* Monthly repayment Rate TypeOffsetRedrawOngoing FeeUpfront FeesLVRLump Sum RepaymentAdditional RepaymentsPre-approval

FixedMore details

Advantage Package Fixed Rate Home Loan (Principal and Interest) 1 Year (LVR < 60%)

FixedMore details

Complete Fixed Home Loan (Principal and Interest) 2 Years (LVR 80%-90%)

Base criteria of: a $400,000 loan amount, variable, fixed, principal and interest (P&I) home loans with an LVR (loan-to-value) ratio of at least 80%. However, the ‘Compare Home Loans’ table allows for calculations to made on variables as selected and input by the user. All products will list the LVR with the product and rate which are clearly published on the Product Provider’s web site. Monthly repayments, once the base criteria are altered by the user, will be based on the selected products’ advertised rates and determined by the loan amount, repayment type, loan term and LVR as input by the user/you. *The Comparison rate is based on a $150,000 loan over 25 years. Warning: this comparison rate is true only for this example and may not include all fees and charges. Different terms, fees or other loan amounts might result in a different comparison rate. Rates correct as of January 18, 2022. View disclaimer.


Disclaimers

The entire market was not considered in selecting the above products. Rather, a cut-down portion of the market has been considered. Some providers' products may not be available in all states. To be considered, the product and rate must be clearly published on the product provider's web site. Savings.com.au, yourmortgage.com.au, yourinvestmentpropertymag.com.au, and Performance Drive are part of the Savings Media group. In the interests of full disclosure, the Savings Media Group are associated with the Firstmac Group. To read about how Savings Media Group manages potential conflicts of interest, along with how we get paid, please visit the web site links at the bottom of this page.

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Harrison is Savings.com.au's Assistant Editor. Prior to joining Savings in January 2020, he worked for some of Australia's largest comparison sites and media organisations. With a keen interest in the economy, housing policy, and personal finance, Harrison is passionate about breaking down complex financial topics for the everyday consumer.

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