ING Variable prime - 0.80% (currently sit @ 3.45%), rate will be adjusted every 3 months......
"Variable Rate unmortgage
The ING DIRECT Variable Rate unmortgage is set at ING DIRECT Prime less 0.80% for a 5-year term. The ING DIRECT Variable Rate unmortgage interest rate will be adjusted, automatically, every 3 months to reflect the current ING DIRECT Prime Rate, less 0.80% (the current adjustment factor). Plus, you have the option of converting to an ING DIRECT Fixed Rate unmortgage of 3 years or more, at any time, without penalty, at the posted rate for the selected term. "