Dedicated to Deposits: Deals, Data, and Discussion

4.50% 18-Month CD at ING Direct


ING Direct raised the yield on its 18-month CD today to 4.50% APY. The rates for all the other terms remain the same. As you can see from my weekly rate summary, a 4.50% APY is a very competitive yield for an 18-month CD. For those with an ING Direct CD about to mature, you may be able to get an additional 0.10% for renewing.

It's rare when ING Direct offers a top yield. ING Direct customers typically are willing to sacrifice a little less yield in return for a better online account process. This time you don't have to sacrifice. ING Direct offers is an easy CD account opening process that's all electronic. Managing the CD is also easy. When the CD matures, you can log in and immediately transfer it back to the funding account or your ING savings account.

Some of the ING Direct's certificate of deposit details include:
  • No minimum deposit requirement
  • Early withdrawal penalty for terms of over 12 months is 6 months interest.
  • Grace period at maturity is 10 calendar days
  • You can receive interest disbursements on a monthly basis deposited to your Electric Orange, your Orange Savings or a verified external account
  • Joint accounts and Living Trust accounts can be opened.
  • The following accounts are not available: business, power of attorney, beneficiary or individual retirement accounts.

If you're going to open an ING Direct CD, it makes sense to first open an ING Direct savings account and take advantage of a $25 refer-a-friend bonus. Once you open an ING CD, you are no longer eligible for the savings account bonus. The Orange Savings Account has no minimum balance requirements or monthly fees.

If you want this $25 ING bonus for the savings or checking account, you can email me at bankdeals at gmail dot com. Please include your first and last name, and let me know which account referral you want (savings or checking). Note, the bonus requires a minimum initial deposit of $250.

ING Direct is also a good choice for those looking for a strong bank. However, its ratings have recently gone down at both BauerFinancial and Bankrate. It's currently rated 3 stars (performing) at and 3.5 stars (good) at BauerFinancial based on 6/30/08 data. You can review more of their financials from this FDIC page.

  Tags: ING DIRECT, CD rates

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Comment #1 by gaelicwench (anonymous) posted on
Amidst all the turmoil in the market the past few days, this is good news for me. I went ahead and opened a new CD with monies that had accumulated in my Orange Savings account. Thankfully, setting up ASP each month paid off.

Lastly, patience paid off as well...thanks for posting this!!

Comment #2 by Anonymous posted on
Funds for the new CD must come from an established ING account or link. Limit is 3 external links which must be checking accounts. So unless you have funds accumulated in your Orange account, set up a link to a checking account which already has a link to a savings or MMA so you can push $$ fast.

Comment #3 by gaelicwench (anonymous) posted on
Uh, isn't that what I wrote in my post? I've got both an Electric and Orange account. The 18-month 4.5% CD was funded by my Orange Savings account. Savvy?

Comment #4 by Anonymous posted on
Does anybody know is this offer available for IRA's as well? What are the APY's that ING offers for IRA's? They don't appear to be listed on their website. Btw Bank Deals is an excellent website *****

Comment #5 by ljevtich (anonymous) posted on
Thanks so much for posting the CD rate for ING. I got the CD last night. I was just waiting for some better deals through ING and now I got it. Thank you again!