Following the popularization of the “direct” businesses, ING Direct Australia was put up in 1999.
Much like its mother company, ING Group, this Australian division specializes in financing solutions.
Also, similar to the other ING divisions, ING Australia focuses on a specific set of solutions, namely savings accounts and home loans.
Other popular aspects of the ING scope, such as ING car insurance and ING direct auto insurance, are not provided by ING Australia.
The Australian version of ING Direct, however, holds true to what direct businesses should be. Simply put, direct businesses such as banks can be accessed by anyone, anywhere, at any time. With ING direct, you can open up a savings account purely online without ever having to visit a physical bank.
All you have to do is spend a few minutes online. There are quotes, calculators for interest rates, forms to fill out if you’re signing up, and more.
You won’t have to stand in line and wait for your number to be called out as you would in your local banks. You simply take a few minutes browsing and planning your investment. If you’re still puzzled, you can do the transaction over the phone!
Besides convenience, there are other advantages to this type of banking as well. One such advantage of a “direct account” is the fact that you can put your money away and witness its meteoric rise after a couple of years. Since direct businesses are built to reduce cost of operations, you are benefited with a higher interest rate on your savings account – making saving money all the more fulfilling.
Doing this is fairly easy. You simply have to apply for a savings account or a term deposit, send them the money, and wait for the money to be sent back to you with interest. It is that simple. If you think that it smells fishy, it isn’t.
ING Group is one of the largest companies in the world, with numerous divisions all over the globe. It rivals other big banking giants like HSBC.
Home loans are very popular in direct businesses, as it allows for a speedy loan setup. This is another specialty of the Australian division of ING. Of course, you will have to meet certain requirements before you can apply for a loan.
The good thing about direct businesses is that the loans they give out have really low interest rates. This allows you to finally get your own home, while not having that nagging feeling that you have ungodly amounts of money to pay by the end of the month.
In a nutshell, ING Direct Australia is just like any other bank; only that it is more convenient to work with, as well as making banking really worth it.
Finally, I want to mention ING Direct auto insurance in Australia. Originally, ING car insurance was offered in conjunction with ANZ bank. There was a 51%/49% agreement between ING Group and ANZ, but in recent years, ANZ has bought out ING and they've changed the name to OnePath.
So, if you're looking for ING car insurance in Australia, you'll find it at OnePath.