Jump to content

ING Direct Raises Orange Savings Account Interest Rate to 4.50% @ ING Direct


Brad

Recommended Posts

http://www.gottadeal.com/images/storelogos/ingdirect.gif

 

ING Direct has once again just raised their rate of interest for their Orange Savings Account to 4.50%. ING Direct is FDIC insured just like other banks are but since they are a .com with no physical branches there is little or no overhead. Savings are therefore passed on to their customers - that would be you. No minimum deposit, No hidden fees or service charges and get 24-hour access to your account.

 

ING Direct Raises Orange Savings Account Interest Rate to 4.50% @ ING Direct

 

Keep discussion in this thread related to ING Direct. Off-topic posts will be deleted.

Link to comment
Share on other sites

I have been very curious about this company. Are they pretty solid? Any info is appreciated!

My mother is the same way. "Be careful. That might not be legit." ING Direct is FDIC insured, just as any other bank or credit union. They just do not have physical locations. It's easy to set-up an account. No fees for transferring money to and from the account. You can set-up automatic withdraws/deposits also. The only thing I do not like is that you cannot link a savings account to your ING account. (So I believe by reading the website. If anyone knows that you can, please let me know.)

 

And no, I do not work for ING. I used to work at another bank and believe me ING is great.

Link to comment
Share on other sites

Is there a minimum balance that must be kept and are there any fees for this savings account if that balance is not kept

http://www.ingdirect.com/osa_work/

 

This should answer all your questions about ING but if not let us know and someone will try to get it answered.

 

I use ING and think it is great (and the rates aren't bad either)

 

My ING grade...A++++

Link to comment
Share on other sites

My fiance & I are saving for a house (& wedding) and have a substantial amount of money. We have had no problems whatsoever and I am a natural skeptic. Before We got engaged, I opened an EmigrantDirect account and again have had NO Problems WHATSOEVER. It is a great way to save money (& keep it pretty liquid) w/o locking your money into a Roth or 401-k.

 

The security is great, transferring money in & out on both is a piece of cake and we had no problem adding me ( a secondary account) to her original account so I could add money without alsways havingf to w/drawl from my account, then deposit into her account, etc etc.

They were very stict about security and I needed her with me as proof that it was legit. (which i appreciate), so I have NO PROBLEM recommenfding them....

 

the interest rate raises for these places and banks are dependant on the Fed raising the prime interest rate... so it's a double-edged sword....it costs more to borrow, but savers benefit with higher interst rates to save.

 

ING or EMIGRANTDIRECT are great places to save save save!

Link to comment
Share on other sites

We've had an orange savings for a few years now and we have minimized what we have in conventional bank accounts due to their interest rates. It's easy to link them to your banking accounts to transfer money in and out of ING.

 

(No - I don't work at ING either).

Link to comment
Share on other sites

Are there any advantages to ING over your standard brick-and-mortar bank with good online access? I'm currently getting 5% on a free-free, no minimum savings account with my bank. I can't see any reason to switch... but everyone in this thread seems quite pleased about ING's offer. What am I missing?
Link to comment
Share on other sites

Are there any advantages to ING over your standard brick-and-mortar bank with good online access? I'm currently getting 5% on a free-free, no minimum savings account with my bank. I can't see any reason to switch... but everyone in this thread seems quite pleased about ING's offer. What am I missing?

NOTHING! I love ING, but mostly because it is not always around the corner (easy to get to) and it offers much better interest than my local bank - which is now offering 1% for a no minimum savings account (interest paid quarterly) and .25% (yup not anything thrilling there) on my checking acct.

Link to comment
Share on other sites

NOTHING! I love ING, but mostly because it is not always around the corner (easy to get to) and it offers much better interest than my local bank - which is now offering 1% for a no minimum savings account (interest paid quarterly) and .25% (yup not anything thrilling there) on my checking acct.

Fair enough. :) I'll keep ING in mind in case my bank ever decides to lower its rates to more standard levels.

Link to comment
Share on other sites

  • 3 weeks later...

The best thing about ING is no fees, no minimums, high interest rate, and ease of accessability. The one negative is that they used to offer the highest int rates, but they have lagged behind in raising their rates and now others offer rates at or above 5%. If you are not getting 4%+ in your savings account, you should really look into a Money Market FDIC Insured account like ING or Emigrant.

 

Still, it is very convenient (I have it hooked up to the checking account where i have direct deposit) so I can send my money away almost immediately after the bills are paid and life is good. As for ING not having physical offices, they do exist (there is one in my town) but it is not a bank but rather a corporate building. So if something bad does happen there are physical locations to complain to, but that of course shouldn't be an issue.

 

I have a few ? about Emigrant Direct - Are there fees or minimums? If not, why wouldnt everyone use that one? ING is easy and simple, with no hidden fees, but if ED is likewise why would anyone prefer ING?

Link to comment
Share on other sites

I just got off the website and hope you can help with two questions. They are linked to my checking account, does that mean I can draw on my savings anytime I want just by using my checking account? Second does it have any type of debit card that works with this type of account? We have a saving/chekcing that i love now, we put everything into savings and it only comes out when we write a check against it, so it is always earrning, but near this much. Thanks for any help.
Link to comment
Share on other sites

ING is linked to your checking account, meaning you go to the website and can transfer money to and from your ING account and your Checking account. I believe you can do it up to 8 times a month. It takes about 2-3 days I believe, but you earn interest on most of that changeover time.

 

I think for most people the thing to do would be to keep their regular checking and savings, but then add an online MM account. You can then keep an emergency fund in your regular bank savings account and any excess you put in ING. That way you can avoid transferring to and from the ING account every time the utility bills are due and etc. I transfer in about twice a month and rarely withdraw, and it has worked flawlessly for me.

 

 

Oh and I do not believe there is any type of a debit card for this account. I wouldnt use it if there were however, as I make a killing off of rebate credit cards.

Link to comment
Share on other sites

I am helping my daughter (10) raise and save money so she can go to Australia in July 2008 for World Youth Day. I've been looking for an "institution" such as this where I can get a good interest rate, have it be liquid but still pretty untouchable by her. Looks like I can accomplish that if I set it up as a joint account with her name on it. I'll need to do the actual transferring of the money for her, but she can feel good about having her name on it. looks like this is the best way for me to do this, unless someone else has a better idea?

 

C

Link to comment
Share on other sites

It is guaranteed return, FDIC insured so you CANNOT lose money. It is just a high yield online savings account, very similar to a local Wells Fargo except they pay significantly higher interest.

 

Also, you transfer money in/out through online transfers rather than going through the drive through. It is very secure and lets you see where your money is and exactly how much interest you have accrued.

Link to comment
Share on other sites

We have used ING for both of ours boys savings accounts and our "special" savings account. We've had them for about 3 yrs and haven't had ANY problems. It is WONDERUL and easy! My brother and I finalllllly talked our dad into signing up, and getting rid of his 2 % savings account.
Link to comment
Share on other sites

  • 7 months later...

Are they still offering $25 for new accounts with a referral? I would like to open an account, but if there is an easy $25 dlls to be made I would appreciate a referral.

 

Thanks

 

RC

I have some Refer-A-Friend coupons somewhere, but I cannot locate them at the moment. Therefore, I am not sure if they expired. The current online promotion is if you open an Orange Savings or Electric Orange checking with at least $250, you get $25. (Your friend that referred you gets $10.) No reward for amounts less than $250.

 

Hopes this helps.

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...