Dedicated to Deposits: Deals, Data, and Discussion

ING Direct Business Savings Account and CDs

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ING DIRECT
ING Direct has started offering online savings accounts and CDs for businesses. The business savings account yield is 5.00% APY which is 0.50% higher than the consumers Orange Savings Account which has remained at 4.50% APY since last November. The business CD rates are the same as the consumer CDs with a top yield of 5.25% APY for 9, 12 and 18 month terms. There's no mention of a business checking account like the consumers Electric Orange.

Like the consumer savings account, the business version has no fees or service charges. Businesses eligible for these accounts include sole proprietorships, partnerships, LLCs, corporations and Not-for-profits. ING lists the required documents for opening the accounts from the different business categories here.
  Tags: ING DIRECT, CD rates, savings account

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Comments
6 comments.
Comment #1 by Anonymous posted on
Anonymous
Aren't you better off just opening their Electric Orange checking account, especially if you have more than $50K.

1
Comment #2 by Banking Guy (anonymous) posted on
Banking Guy
The Electric Orange checking account is just for individuals and not for businesses.

1
Comment #3 by Anonymous posted on
Anonymous
UnivestDirect has had a very similar account for some time. The yield on hte UnivestDirect account is 4.10% APY. UnivestDirect also offers business checking.

1
Comment #4 by Banking Guy (anonymous) posted on
Banking Guy
Good point about UnivestDirect. I had forgotten about their Business Savings Account. I have more info on them here.

1
Comment #5 by Anonymous posted on
Anonymous
UnivestDirect's Primary Online Business Savings Account just jumped past ING's Business Savings account.

1