ING vs UBank: which home loan suits you?
Last reviewed
ING and UBank are both digital-first, branch-free lenders competing largely on price and a streamlined online application — but they sit behind different owners and take different approaches to features and account conditions. If you've ruled out a branch-based bank, this is often the more relevant comparison to make.
| Attribute | ING | UBank |
|---|---|---|
| Rate positioning | Historically positioned at the sharper end of variable pricing among digital lenders, sometimes with conditions attached to the top tier. | Backed by NAB's balance sheet; has competed aggressively on headline variable pricing with a straightforward digital application (the former '86 400' technology underpins its platform). |
| Offset & redraw | Offset available on select variable products. | Offset available on eligible variable loans; redraw via the app. |
| Fees | Low or no ongoing account fees on core products, subject to conditions on some tiers. | Generally low or no ongoing fees, positioned as a simple, low-cost digital product. |
| Cashback / promotions | Has run periodic refinance cashback campaigns. | Has also run refinance cashback and rate-match style promotions to build market share. |
| Turnaround / service | App and phone-based only; generally efficient for straightforward files. | Fully app-based application and servicing; backed operationally by NAB's broader infrastructure. |
| Borrowing power quirks | Own serviceability model with its own buffer and expense benchmark. | As a NAB-owned entity, policy settings can move in step with (or independently of) NAB's own credit appetite. |
| Best suited to | Digitally confident borrowers focused on ongoing rate who don't mind meeting account-activity conditions for the best tier. | Borrowers who want a simple digital experience with the backing of a big four bank's balance sheet behind it. |
Same model, different owner
The most useful thing to know here isn't a feature — it's ownership. ING Australia is a subsidiary of the global ING Group. UBank is wholly owned by NAB and was rebuilt on the technology platform of the former neobank 86 400 after NAB acquired it. That matters because UBank's credit policy can, at times, be closely aligned with NAB's own appetite, while ING sets its policy independently within the Australian market.
Where the differences actually bite
- Conditions attached to top-tier rates (minimum deposits, card spend, or similar) have appeared on both platforms at various times — always confirm current terms rather than assuming a headline rate is unconditional.
- Neither offers branch access or in-person appointments; both rely on phone and in-app support for service issues.
- Both are genuinely useful for simple, clean PAYG files; neither is a fit for complex income, adverse credit or alt-doc scenarios.
Who should pick which
If you value knowing a big four bank sits behind your lender, UBank's NAB ownership may be reassuring, without the fees of a packaged NAB product.
If you want a lender operating independently of a big four's day-to-day settings, ING is worth comparing on live pricing before you commit.
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.
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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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