ING Direct Orange Advantage

The Orange Advantage Home Loan available through ING Direct offers borrowers a 100% interest offset when it is connected to an Orange Everyday account. Basically, the balance in that account will offset the current balance of the Orange Advantage loan prior to calculating the interest. In fact, the more you use the Everyday Account less interest must be paid back on the home loan.

In other words, you will be saving money and paying the loan off more quickly since you are paying less interest with every payment. The interest on the Orange Advantage is evaluated on a daily basis which means you can see daily savings.

The Orange Advantage is a variable rate home loan. The 100% offset can help you receive continued interest discounts for the duration of the home loan when it is combined with a Orange Everyday account and the total amount borrowed reaches $300,000 or more.

KEY BENEFITS

The following benefits come standard with ING Direct’s Orange Advantage Home Loan.

Extra Payments

You can make unlimited extra payments on the Orange Advantage. There are no upper limits on payments or early repayment fees.

Interest Only Options

You have the option of paying interest only on your mortgage for a maximum of five years before the principal will need to be paid.

Fees

While the Orange Advantage does have a $199 annual fee there are no monthly fees attached to this loan product.

Redraw Facility

This variable rate home loan does allow loan redraws. There are no limits and the funds released can be used for whatever purposes are necessary.