5.25% 9-Month CD at ING Direct
Apr 27, 2007 - 9:03 AM by Ken Tumin
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.
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Tags: ING DIRECT, CD rates
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tAnYeTTa (anonymous) - #1, Friday, April 27, 2007 - 1:27 PM
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 :)
Anonymous - #2, Friday, April 27, 2007 - 2:24 PM
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.
Anonymous - #3, Friday, April 27, 2007 - 3:51 PM
Do you have any additional information on the bonus .10% renewal? I didn't find any information on ING Direct's site.
Anonymous - #4, Friday, April 27, 2007 - 4:45 PM
Dear tanyetta,
CD = Compact Disk :-)
If you like music you should get one, or maybe two! :-)
You're welcome. :-)
Banking Guy (anonymous) - #5, Friday, April 27, 2007 - 6:13 PM
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.
Anonymous - #6, Friday, April 27, 2007 - 6:16 PM
Renewal bonuses were offered last year. Only targeted person have been offered them.
Anonymous - #7, Saturday, April 28, 2007 - 8:09 AM
Renewal bonus is not effective until renewals made during the month of May.
Banking Guy (anonymous) - #8, Saturday, April 28, 2007 - 4:14 PM
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%.
Anonymous - #9, Tuesday, August 4, 2009 - 10:22 AM
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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