Who Can Apply for the ING Personal Loan?
To apply for an ING Personal Loan, you must be 18 years or older and a citizen or permanent resident of Australia or New Zealand. Applicants need to meet the minimum income requirement of $36,000 per year (before tax) with PAYG payslips as their primary income source.
This loan is designed for individuals with good credit ratings and stable income, allowing you to borrow for various purposes like debt consolidation, home improvements, or even travel. Note that ING Personal Loans are not available for self-employed applicants.
Required Documents:
✅PAYG payslips
✅Proof of super income (if applicable)
✅Bank statements
✅Tax returns
Applicable Fees and Rates:
The ING Personal Loan offers fixed interest rates ranging from 6.89% p.a. to 18.99% p.a., depending on your credit score. This fixed rate allows you to plan your repayments with certainty, as your monthly payments remain consistent throughout the loan term. The comparison rates range from 7.10% p.a. to 19.23% p.a., reflecting the true cost of the loan, including fees and charges.
One key advantage is the absence of ongoing fees and early repayment penalties, making this loan more flexible and cost-effective. While an establishment fee applies, you can benefit from no additional charges throughout the life of the loan, helping you manage your finances with ease.
A Tip for the Reader
Before applying for any loan, it’s important to evaluate your financial situation and understand the repayment terms. Make use of ING’s loan calculators to see how much you can borrow and what your repayments will look like.
If you’re consolidating debt, ensure that the new loan offers better terms than your current debts. ING’s transparent approach, with no hidden fees, makes it easier to plan your finances effectively.
Finally, consider the benefit of early repayments. Since ING doesn’t charge early repayment fees, you have the flexibility to pay off the loan sooner without penalties, helping you save on interest over time.
How to Apply for This Loan?
Visit the official ING website and complete the online application in just 20 minutes. You can track your application and, if approved, receive funds on the same day.