ANZ vs ING: which home loan suits you?
Last reviewed
ANZ is a big four bank with branches, packaged loans and published LMI waivers for eligible medical, legal and accounting professionals. ING is a digital-only bank that competes on low fees and simple products. The right choice depends on whether you value service and policy breadth, or a lean, low-cost loan.
| Attribute | ANZ | ING |
|---|---|---|
| Rate positioning | Tiered basic-vs-package pricing typical of a big four bank; pricing can be reviewed on request. | Often competitive on ongoing variable rates for simple owner-occupier loans. |
| Offset & redraw | Full offset on the packaged product; redraw on variable loans. | Offset on selected variable products; redraw via app. |
| Fees | Annual package fee for full features. | Low or no ongoing fees on basic products. |
| Professional LMI waivers | Publishes LMI waivers for eligible medical (up to 95% LVR), legal and accounting professionals (up to 90% LVR), subject to conditions. | No comparable published professional LMI waiver. |
| Turnaround / service | Branches, phone and broker channel; can slow in busy periods. | Phone and app only, no branches. |
| Best suited to | Professionals, families wanting in-person help, and borrowers who want a full banking relationship. | Digitally confident borrowers with simple income chasing low fees. |
Big four breadth vs a lean digital bank
ANZ offers branches, business banking and a wide set of lending policies. ING has no branches and keeps its product range tight, which helps it keep fees down for straightforward borrowers.
Why professionals often look at ANZ first
ANZ publishes LMI waivers for eligible doctors, dentists, lawyers and accountants. On a high-LVR purchase that can save tens of thousands in upfront costs — usually more than a small rate difference over the first few years.
Who should pick which
Choose ANZ if you're an eligible professional, need business banking, or want a branch.
Choose ING if you have a simple PAYG income, a 20% deposit and want a low-fee loan run from an app.
A note on pricing
Indicative only — check current pricing. Rates, fees and cashback offers change frequently and vary by loan purpose, LVR and lender promotion. Nothing on this page is a quote; speak to an XLOANS broker for live pricing from both lenders.
Beyond the big four
Why people sometimes use a non-major lender
CBA, Westpac, ANZ and NAB aren't always the best fit. Non-major banks (like ING, Macquarie, AMP and Bank Australia) and non-bank lenders (like Athena, Firstmac, Resimac, La Trobe Financial and RedZed) can suit borrowers for a few reasons:
Different policy
Non-major banks and non-bank lenders often accept situations the big four decline — one year of self-employed financials, BAS or accountant-declaration income, recent job changes, or credit file issues.
Lower assessment buffers
APRA expects the banks it regulates to test your repayments at least 3% above your loan rate. Non-bank lenders aren't bound by that guidance, and some use a smaller buffer — which can mean more borrowing power.
Sharp pricing
Lenders like ING, Macquarie and Athena don't carry a big branch network, so they often compete hard on rate and fees for straightforward borrowers.
Speed and service
Smaller credit teams can mean quicker decisions and more flexibility on complex files, especially through a broker.
Unusual properties
Some specialist lenders are more comfortable with smaller units, rural blocks or mixed-use security than a major bank.
The trade-off: specialist and non-bank loans can carry higher rates or fees, and fewer branch options. A lower buffer also means less room if rates rise. An XLOANS broker can tell you whether a non-major lender genuinely helps your situation.
Ask a broker if a non-major lender suits youBook a free 15-minute chat
An XLOANS broker can pull live rates and policy for ANZ and ING (and 40+ other lenders) against your actual numbers — no cost, no obligation.
Other comparisons with these lenders
Frequently asked questions
Indicative only — check current pricing. This page is general information, not financial advice, and does not quote live rates. Lender policy, pricing and cashback offers change frequently. Speak to an XLOANS broker for advice tailored to your situation.
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