Dedicated to Deposits: Deals, Data, and Discussion

5.25% 9-Month CD at ING Direct

POSTED ON BY

ING DIRECT
It's not the best 9-month certificate of deposit rate, but at 5.25% APY it is competitive. Also, for those who have an ING CD that is about to mature, ING Direct offers an extra 0.10% bonus for renewal. ING Direct's CDs have some nice features. First, like its savings and checking accounts, there is no minimum deposit. Also, once you have a savings or checking account, the CD is very easy to open and to close. It all can be done online within a couple of minutes.

For more information on ING Direct's new checking account, please refer to this post, and for more information on the Orange Savings Account and the $25 refer-a-friend bonus, please refer to this post.

ING Direct is FDIC insured under the bank ING Bank, fsb (FDIC Certificate # 35489).

Thanks to the readers who mentioned this new 9-month CD.
  Tags: ING DIRECT, CD rates

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Comments
9 comments.
Comment #1 by tAnYeTTa (anonymous) posted on
tAnYeTTa
what is a CD? and what's the reason to get one? just wondering. i'm new to all this and i would like to know more. thanks :)

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Comment #2 by Anonymous posted on
Anonymous
I'll take a stab at this...A CD is a certificate of deposit. It's basically you giving the bank/credit union some money and committing to keep it there for a fixed amount of time. If you withdraw it earlier, there are usually penalties. Some CDs will allow additional deposits, others will not.

Basically, you would only want to use one if you know you won't need the money for a set amount of time. If you think there's a chance you'll need it sooner, use a savings or money market account.

1
Comment #3 by Anonymous posted on
Anonymous
Do you have any additional information on the bonus .10% renewal? I didn't find any information on ING Direct's site.

1
Comment #4 by Anonymous posted on
Anonymous
Dear tanyetta,

CD = Compact Disk :-)

If you like music you should get one, or maybe two! :-)

You're welcome. :-)

1
Comment #5 by Banking Guy (anonymous) posted on
Banking Guy
For more information on CDs and when you might want one in addition to a savings account, please refer to this post at About Banking / Loans.

1
Comment #6 by Anonymous posted on
Anonymous
Renewal bonuses were offered last year. Only targeted person have been offered them.

1
Comment #7 by Anonymous posted on
Anonymous
Renewal bonus is not effective until renewals made during the month of May.

1
Comment #8 by Banking Guy (anonymous) posted on
Banking Guy
That's a good point. Renewal bonuses will vary and may not be offered to everyone. Last year, renewal bonuses were as high as 0.25%.

1