New ING Direct CD Rates - 4.75% 9-Month
Apr 5, 2006 - 12:20 PM by Ken Tumin
ING Direct raised rates on most of their CD terms. The largest increase was with the 9-month CD. The APY increased from 4.35% to 4.75%. This is the same rate that's currently offered in the Winter Save Up Sale.
I had thought ING Direct would push their CDs as the savings account promo was coming to an end. Although the rates are about 0.25% to 0.50% under what other internet banks offer, ING CDs do have two features that no one else has: no minimum deposit and a very easy online system to open CDs. It'll be interesting to see how they advertise this in the coming weeks.
I don't think this will be enough to stop many from moving their money elsewhere. With rates moving up so much lately, there's not much incentive to lock your money in a CD with below average rates. However, there are two things to consider. Moving your money into an ING CD is very simple, and it has no delays where you won't be earning interest.
I had thought ING Direct would push their CDs as the savings account promo was coming to an end. Although the rates are about 0.25% to 0.50% under what other internet banks offer, ING CDs do have two features that no one else has: no minimum deposit and a very easy online system to open CDs. It'll be interesting to see how they advertise this in the coming weeks.
I don't think this will be enough to stop many from moving their money elsewhere. With rates moving up so much lately, there's not much incentive to lock your money in a CD with below average rates. However, there are two things to consider. Moving your money into an ING CD is very simple, and it has no delays where you won't be earning interest.
Term Old APY New APY Change
6 Month 4.30% 4.50% +0.20%
9 Month 4.35% 4.75% +0.35%
12 Month 4.50% 4.75% +0.25%
18 Month 4.75% 4.75%
24 Month 4.75% 4.80% +0.05%
30 Month 4.75% 4.80% +0.05%
36 Month 4.75% 4.80% +0.05%
48 Month 4.80% 4.85% +0.05%
60 Month 4.85% 4.90% +0.05%
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Banking Guy (anonymous) - #1, Thursday, April 6, 2006 - 7:01 PM
Here's the email that I received from ING Direct. Just as I had thought, the 4.75% 9-month CD was no coincidence.
Now earn 4.75% APY with our 9-Month Orange CD!
Keep your savings growing with a 4.75% APY on our 9-Month Orange CD. It's easy to open and offers the predictable, risk free return only an ING DIRECT Orange CD can offer. In fact, we have great rates on all of our CD terms. Choose a term from 6 to 60 months that suits your savings goals and guarantee yourself a higher yield.
To open an Orange CD(s) or to learn more, visit us online at ingdirect.com or speak with one of our Associates at 1-888-464-0727.
Hurry, this great 9-month CD rate ends April 30th!
Anonymous - #2, Saturday, September 6, 2008 - 1:57 PM
I've had my ING Direct account for a couple of years now and the experience has been great. They even offer a bonus for new customers. When you open an account for at least $250 (only by using the referral), you will receive a $25 bonus from ING. If you would like a referral, please send your full name and email address to andy7984@aol.com.
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