Interest rates matter, but they are not the only consideration when doing a personal loan compare. The overall structure and flexibility of the product are just as important.

First, check the policy on early repayments. Some lenders charge a fee if you pay off your loan ahead of schedule. If there is a chance you might want to clear your debt early, a product with no early repayment fee gives you that freedom without penalty.

Second, consider whether a fixed or variable rate suits your needs. A fixed rate locks in your interest rate for the entire loan term. Your repayment amount stays the same from the first payment to the last, which makes budgeting straightforward and protects you from rate increases. A variable rate can go up or down depending on broader market conditions. It may offer more flexibility in some cases, but it also means your repayments could increase if rates rise and decrease if rates go down.

Finally, look at the fee structure in full: the establishment fee, any ongoing monthly service fees, and what happens if you miss a payment. The comparison rate captures most of these, but reading the full fee schedule gives you the complete picture.

With an ING Personal Loan, you can borrow from $5,000 to $60,000, subject to eligibility. Loan terms range from 2 to 5 years for loans up to $30,000, and up to 7 years for larger amounts. Use the ING Loan Repayments Calculator to compare loan amounts, terms and repayments before applying.