fact checked Advertiser Disclosure ING has done it again, taking home the prestigious title of 'Australia's "> fact checked Advertiser Disclosure ING has done it again, taking home the prestigious title of 'Australia's ">

ING has been named Australia’s Best Bank for the third consecutive year

ING has done it again, taking home the prestigious title of ‘Australia’s Best Bank’ Mozo Experts Choice Best Banking Awards for the third year in a row.

This hat-trick is a testament to the bank’s offering across the spectrum of financial products, many of which have won separate Mozo awards over the past year.

To determine which financial institutions are awarded the title of Australia’s Best Bank, Mozo experts look for the absolute top performers in the banking world, offering customers the best value and service.

In 2021, 89 banking vendors were evaluated and ranked in individual product categories based on their performance in the Mozo Experts Choice Awards over the past 12 months. ING was once again the clear winner in the Best Bank award.

“It’s a really impressive achievement for ING to hold this title for the third straight year,” said Mozo Banking Expert and Judge Peter Marshall.

“The winners of these awards really stand out across the board. The title doesn’t necessarily mean that every financial product Mozo offers is a leader in its market, but you’ll generally find a product that Mozo recommends as worth considering in every category, from home loans to savings accounts.”

Check out some of the products available at ING, Australia’s three times award winning Best Bank:

ING’s award-winning banking products

Fixed Rate Loan (with Orange Advantage)
  • Interest rates from 1.84% (3.73% comparable interest rate*)
  • Roundup feature with linked Orange Everyday account
  • Free special repayments

find out more

This great option from ING offers some extremely competitive interest rates depending on the loan term, starting at just 1.84% (3.73% comparable rate*) for the 3 year option. You also have the flexibility to make free additional repayments (up to $10,000 per year) and use the round-up feature through the linked Orange Everyday bank account. This rounds transactions up to the nearest $1 or $5 and rolls over the difference to your home loan balance. Additionally, this loan earned two wins in the 2021 Mozo Experts Choice Home Loan Awards^.

Orange everyday
  • No ATM fees
  • No monthly account fees (with conditions)
  • 2021 Mozo Experts Choice Award Winner^^

find out more

The ING Everyday Orange bank account excels in convenience and value. There are no ATM fees in Australia or abroad, and any ATM fees from other banks will be credited back to your account. Also, there are no account fees as long as at least $1,000 is deposited into the account each month from an outside source (like your salary) and you make five purchases using a linked ING debit or credit card. And if you connect the account to ING’s Savings Maximizer, you might see a spike in interest on your savings balance (if the bonus conditions are met).

savings maximizer
  • 1.35% pa ongoing bonus interest (if the requirements are met)
  • No account fees
  • Roundup tool

find out more

By linking this 2021 Mozo Experts Choice Award winning*** savings account to ING’s Orange Everyday Transaction Account, you can earn interest of up to 1.35%. There are a few conditions that you must meet, including a monthly deposit of at least $1,000 into the transaction account, making five debit or credit card purchases per month, and increasing your savings balance each month (excluding interest). There are no account fees and you can use the round up feature for proactive savings with minimal effort. It evaluates each transaction through the Orange Everyday account, rounds purchases up to the nearest $1 or $5 and transfers the difference to the Savings Maximizer.

Unsecured Personal Loan
  • Fixed interest rate of 8.99% (9.13% comparable rate*)
  • Free special repayments and no redemption fee
  • 2021 Mozo Experts Choice Award Winner**

find out more

This loan is free of hidden fees and offers a competitive fixed interest rate of 8.99% (9.13% comparable rate*). You don’t need to post any collateral as it is an unsecured loan and you can rest assured that you will always know your repayment amounts as it is a fixed rate. You can borrow up to $60,000, repay biweekly or monthly, and make additional repayments for free (remember, you can’t withdraw that extra money again). There’s a $20 late payment fee, so be sure to stick to your schedule, and while there’s a $100 upfront fee, Orange Everyday account holders can waive it.

Want to learn more about Australia’s best banks, credit unions and union banks? Find out the details of our awards and the judging process by reading the Australia’s Best Banking Methodology Report for 2021.

^Read more about ING’s win in the Home Loan Awards by Mozo Experts Choice and other winners of 2021.

^^Visit our awards hub to see why ING’s Orange Everyday won the Exceptional Everyday Account category Mozo Experts Choice Awards for Bank Accounts.

**Learn more about 2021 Mozo Experts Choice Personal Loan Awards and ING wins.

***See why ING Savings Maximizer closed a 2021 Mozo Experts Choice Award for Savings Accounts alongside other successful providers.

* WARNING: This rate of comparison applies only to the example or examples provided. Different amounts and maturities lead to different comparison rates. Costs such as redemption fees or prepayment penalties and cost savings such as fee waivers are not included in the comparison rate, but may affect borrowing costs. The comparative interest rate shown is for a secured loan with monthly principal and interest payments of $150,000 over 25 years.

** The initial monthly repayment numbers are estimates only, based on the advertised interest rate, loan amount, and entered term. Rates, fees and charges, and therefore the total cost of the loan, may vary depending on the loan amount, loan term and credit history. Actual repayments will depend on your individual circumstances and changes in interest rates.

*** WARNING: The Comparative Rate combines the lender’s interest rate, fees and charges into a single rate to show the true cost of a personal loan. The comparative rates shown are calculated based on a $30,000 5 year loan or a $10,000 3 year loan as indicated, based on monthly principal and interest repayments, on a secured basis for secured loans and a unsecured basis basis for unsecured loans. This comparative rate applies only to the example or examples given. Different amounts and maturities lead to different comparison rates. Costs such as redemption fees or prepayment penalties and cost savings such as fee waivers are not included in the benchmark rate but may affect borrowing costs.

^See information on the Mozo Experts Choice bank account awards

Mozo provides general product information. We do not consider your personal goals, financial situation or needs, and we do not recommend any particular product. You should make your own decision after reviewing the PDS or offering documentation, or seeking independent advice.

While we pride ourselves on covering a wide range of products, we do not cover every product on the market. If you decide to apply for a product through our website, you are dealing directly with the supplier of that product and not with Mozo.

Comments are closed.