After the launch of personal online credit in September 2017, ING brings an improvement to the existing Home’Bank product, allowing customers to refinance personal needs loans or ExtraROLs in a single loan with a monthly fixed rate for five years so that they can get the desired amount.

The refinancing option can be easily accessed by entering the existing personal credit loan process from ING Home’Bank. Customers go through the same queries at ANAF and the Credit Bureau to check the eligibility and the amount they are for compared to the one requested. The refinancing option is currently only available to those customers who already have products like ExtraROL or personal needs loans, and for which refinancing makes sense in order to obtain the desired amount.

Loan products selected for refinancing will be those that favor the customer to achieve the desired value (taking into account their term, value, monthly rates, etc.). Being part of the online credit flow process, the option is not currently addressed to ING clients who only want to refinance their existing debt. This request can still be addressed to any ING office.

Prior to refinancing approval, customers will receive a simulation of the new loan, the successive steps then being the same as in the case of an ordinary online personal need loan, using the digital signature and transferring the amount immediately to the client’s account. The whole process takes about 15 minutes.

Verification processes and grant conditions are exactly the same as for a refinancing in an ING office. Customers will be able to check all conditions and refinancing information in the process and in the documents sent to the email address to make an informed decision about both the refinancing options (approval date, maturity, monthly rates, refinancing costs ), as well as the terms of the new loan (interest, total amount refunded by the DAE, analytical fee or any other charges).

ING Bank Romania will continue to respect the responsible lending policy, which resulted in a 2.8 percent non-performing loan rate well below the market average, reported at the bank level at the end of the first semester of this year.

”Fully online personal needs credit has opened the door to a host of possibilities, using electronic signature and automated checks in third-party databases, with the approval of ING clients. This is just one more step in the promise of a digital bank we have made to our customers, giving them better control of their money. Online banking should not only be about handy transactions, but also a way to have a better visibility of the financial products portfolio, a control of your own funds, while you can allocate, from the comfort of your own home, the time it takes to read and inform you of your financial decisions,” said Javier Mones Pita, retail banking director ING Bank Romania..

Since announcing personal online credit in September 2017, nearly 18,000 people have checked on what conditions they could get a loan, having a more responsible and informed approach to the conditions for taking a credit. A total of 5,000 customers chose to take online credit, one in three with at least one such product. Moreover, 80 percent of online credits were accessed and approved by mobile.

The use of ING Home’Bank through the mobile application has increased significantly compared to the level of usage on the desktop. At the end of June 2018, of the 646,000 active Home’Bank users, 453,000 accessed the mobile application with an average of 15 logs per month. Frequency for the desktop application is half.

By analyzing the behavior of ING customers, the preference for online solutions is obvious: only 4 percent of interactions with the bank are offline, via branches or call center. In addition, the number of mobile customers’ interactions and requests has doubled over the past year.

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