ING dropping 4/5 years fixed rates

[Bradsdad]

ING have just announced that they are dropping their 4 & 5 years fixed rates down to 7.49%. Whilst still not the lowest out there, hopefully some of the majors follow suit in the near future.

 

[Ace73]

ING have just announced that they are dropping their 4 & 5 years fixed rates down to 7.49%. Whilst still not the lowest out there, hopefully some of the majors follow suit in the near future.

That's a good indication than, that they believe interest rates are not going to rise to much once they do start rising. I will stick with my variable loans as it give me the most flexibility.

 

[Jazza]

Or maybe they're not trying to simply shaft customers like most banks but instead are giving a good deal when/where they can?

I've got my PPOR with them at %5.09 and have just moved my general everyday account across to them too (new Orange Everyday account). They're allowing unlimited use of any Australian ATM with no fees if you withdraw $200+ which sure makes it easier for customers to access their money freely.

I'm currently a happy customer.

 

[Bradsdad]

ING have their place but it's limited by things such as policies, rate (larger lending volumes) and no off-set facility (soon to change I believe). I'm glad that you are happy there and trust the structure they have offered meets your goals.

When I say "policies" I mean quite a few. I find them quite inflexable at times whereby the deal can get approved elsewhere without question.

The arguement about just wishing to give clients a better deal is fanciful at best IMO. Like the major banks they are there to increase market share and increase profits. Time will tell whether it's a sign of things to come in the market place, lasts a limited time or the differencial is there to stay.

As it stands it's hopefully going to keep others honest, especially if they see their market share being eaten into.


Regards
Steve