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ING DIRECT has reduced the interest on its three year fixed rate home loan by 0.14 per cent.
The lender’s new fixed rate now sits at 7.30 per cent – making it one of the most competitive rates on the market.
INGDIRECT’s executive director of mortgages Lisa Claes said the rate cut was just one of the many product enhancements the bank was currently making in order to provide a better suite of products.
“The enhancements we have been making at ING DIRECT seem to be having a positive influence on competition, and ultimately, it is having a positive effect on what is available to Australian home loan customers,” Ms Claes said.
In the last few months, ING Direct has launched a cash incentive switching campaign and increased its maximum LVR to 95 per cent.
Rates refer to a fixed price or an amount charged by sellers or providers for their goods and services.