ING Bank Review

ING Group Bank

ING Group Bank Review & Rating

With over 9.5 million customers, ING has been serving a major population of world since 1991. It is a bank with third largest customer base in Germany, with its headquarters in Amsterdam. It is serving private as well as their corporate clients in around 40 countries. The core businesses provided by ING is not limited to few but many which includes saving accounts, mortgages, investment products, consumer loans and current account for private customers. ING was able to make its way to the list of top ten largest European companies by revenue. They’re working with a purpose of empowering people to stay step ahead in life as well as business.

Investment Types

With ING, customers get to invest in some of their most favorite investment types, each depending on the interest of customers. ING has pretty much all the asset types to invest in which includes ETFs, funds and shares. Some of the very common ETFs include iShares, Lyxor, VanEck and Xtrackers. Similarly, In the case of shares, the most favorite ones are DAX shares, TecDAX share and Dow Jones stocks.

They also offer certificate of various types which are as following:

  • Participation certificate: with 1:1 base value and can be used to invest in commodities such as oil and gold.
  • Discount certificates: can be taken on discount on the price compared to purchase of the underlying.
  • Bonus certificates: based on price threshold.
  • Reverse convertibles: these are fixed interest certificates and its repayment depend on the performance of underlying share.

Account Types

A bank is only as good as the quality of accounts it offers to its customers, and ING has taken care of not just private customers but students as well. With ING, you get to choose from three different account and select whatever suits your needs. These accounts come with many benefits which are as following:

  • Free Checking Account

    This account is free if you have monthly salary of 700 euros and you’re under 28 years. With this you get free Debit and Credit card free of charge and ATM facility in almost 97% of the banks in Germany. It allows paying contactless through Apple pay and Google pay. It enables easy account switching which only takes up to 10 minutes and credit up to maximum 100,000 euros is free.
  • Joint Account

    The joint account is offered to 2 people and they can share on e account for banking practices. In this case each of the partner gets their own card and login credentials Account management via the internet is also possible in all the types of accounts and a free Visa card with a minimum withdrawal of € 50 is allowed.
  • Student Checking Account

    The ING student checking account works pretty much the same way as the normal account but this one is for students. The Visa card and Giro card is given for free to the account holder and simple and contactless payment is through Apple pay or google pay. Student can also have an access to 97% of the ATMs to withdraw money and an overdraft of up to € 500 without proof of further documents is allowed for applicants under the age of 28.

Savings with ING

One of the major aspects of ING is the saving plans they offer with low rates that sets them apart from their competitors. With ING, customers can now save their money for their better future and desires to comes true. This can be done in may forms which are classified as:

  • Extra Account

    With this account you can withdraw and deposit money at any time as this is considered to be a flexible additional account. This account is for everyone who already has joined hands with ING. The custody fee of 0.5% pa for account balances over 100,000 euros. The statement of account is provided free each year and it comes with good customer protection. With the saving plan, the saving rate can be changed at any time savings have the same interest rate that is applicable to other account types. With transparency, credit is available to customers at all times.
  • Savings Bond

    With ING savings Bond, people can make one time investment from 2500 to 100,000 euros with a guaranteed interest rate of 0.10% pa. These savings bond is for only those who already have account with ING and they get to select the duration flexibly from 1 to 5 years. The account management and statement of account is free in this case as well.
  • Securities

    ING offers a special securities savings plan with which you can invest regularly from 1 euro. Clients get to select from larger number of saving plans for ETFs, stocks, funds and certificates. For ETFs, stocks and certificates there is a 1.75% of savings rate. Savings rate and the payment deposits are also made flexible and can be changed any time.

ING Loans

ING offers loans to its customers that are reliable, cheap and quick. Loans are approved instantly and offer top interest for all. There are unlimited free special repayments and easy loans can be increased anytime. People can apply for loans online as well with a payout within 24 hours. Some of the loans offered by ING are as following:

  • Installment Loan

    For installment loans customers apply in only 5 minutes for a term of 12 months to 96 months. The annual percentage rate for this loan varies from 3.99% from 5,000 euros to 3.19% from 35,001 euros. The net loan amounts vary from 5,000 to 65,000 euros.
  • Car Loan

    With ING, it doesn’t matter what car you want, all you have to do is choose your desired amount between 5000 and 65,000 euros and a term up to 96 months. The effective interest rate is 2.39% and borrowing rate is 2.36% pa.
  • Home Loan

    Home loan also varies from 5,000 euros to 65,000 euros with a term of 96 months. The APR depends upon the loan you want. The monthly rates also differ from 59.85 to 2,794.92 euros.
  • Credit Line

    With credit line you only pay interest on the amount you actually use. It offers an effective interest rate of 5.99% on net loan amounts of 2,500 to 25,000 euros. The running time for credit line is unlimited.

Why ING?

ING can be one of the choices when one plans to invest because of its amazing customer service and rates. They off roe of the best rates for accounts compared to any other bank and it does not only offer banking services to private customers, but they are also offering business banking as well as wholesale banking. For business banking they offer corporate loans that are inexpensive i.e., from 0.99% interest up to 750,000 euros with no further fees. Similarly, the wholesale banking is totally a new dimension added to ING and they offer vast features and attributes to banking to its customers. This offers industry lending, international cash management facility, trade finance services, commodity and export finance and risk covering facility. With so many branches of banking and many target audiences, ING has been considered as one of the best banks out there.


ING is an amazing banking service that anyone can opt for. With multiple investment types and loan types to choose from, ING is offering wide range of banking services to cater the trading sector as well. From mortgage lending to offering loans and saving plans, Ing has it all catered. However, ING does come with one drawback. It doesn’t have way too many account types to open for private customers in Germany. Nevertheless, the pros of using ING as your investment option and banking solutions outnumbers the cons it has, making it a good choice for banking for many more years to come.

Overall Online Finance World ING Bank Rating


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