Variable Rate Loans

Orange Advantage

If you are looking to pay your home loan sooner, a home loan with an interest offset facility can help you get there.

How does it work?

Our Orange Advantage home loan offers 100% interest offset when linked to an Orange Everyday. The balance in your Orange Everyday is offset against the outstanding balance of your Orange Advantage before interest is calculated. So, the more you have in your Orange Everyday, the less interest you pay on your Orange Advantage. The less interest you pay, the more money you save and the faster you pay off your home loan!

Here's an example of how a 100% interest offset facility works

If you have savings of $20,000 in your Orange Everyday on a particular day, and $300,000 owing on your Orange Advantage on that day, you would only be charged interest on your Orange Advantage based on a balance of $280,000 for that day. As interest is calculated daily on your Orange Advantage you benefit everyday by keeping more of your savings in your Orange Everyday.

Loan rate	Low, variable interest rate with 100% offset when linked to an Orange Everyday. An interest rate discount of 0.25%p.a. applies if you have total residential borrowings of $300,000 or more with ING DIRECT.
Loan term	Up to 30 years
Loan repayments	Principal and Interest or Interest Only (maximum of 5 years for Interest Only)
Paid by	Direct Debit or Salary Credit
Additional payments	Yes, any time.
Monthly fee	No monthly fee Free use of any ATM in Australia when you withdraw $200 or more in a single transaction from your Orange Everyday.
Ongoing fees	$199 Annual fee
Loan redraw	Yes
Bills	Pay bills with your Orange Everyday Visa Debit Card or via BPAY® using either your Orange Advantage or your linked Orange Everyday.
Debit Card	Instant access to your money in your Orange Everyday using your Visa Debit Card for day-to-day spending and cash withdrawals from any ATM or via EFTPOS.

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Call a home loan specialist on 1800 100 258 or see your broker to find out more.

Important Information

All applications for credit are subject to ING DIRECT's credit approval criteria. Fees and charges apply. Details of these and the terms and conditions are available on request. Any advice on this website does not take into account your objectives, financial situation or needs and you should consider whether it is appropriate for you. Before making any decision in relation to the Orange Everyday you should read the Orange Everyday Terms and Conditions booklet and Orange Everyday Fees and Charges brochure. To view this document you may need Adobe Acrobat. Products are issued by ING DIRECT, a division of ING Bank (Australia) Limited ABN 24 000 893 292 AFSL 229823.