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ING Direct Raises Yield on its 1-Year CD to 2.00% - Available Nationwide

Friday, December 11, 2009 - 9:51 AM CT by Ken - Bank Deals Guy

View current rates for ING DIRECT
ING Direct just raised its 12-month CD rate from 1.75% To 2.00% APY. This is listed in ING Direct's regular CD rates table as of 12/11/09. It's not an Added Value CD which requires new money. I doubt this will last long, so if you're looking for a competitive rate on a 1-year CD, don't wait.

I've been an ING Direct customer for several years. I haven't found another online bank that makes it easier to open and manage CDs. I described my experience opening an ING Direct CD in October. The only issue is that they don't allow you to include POD beneficiaries.

ING Direct has been a FDIC member since 2000 (FDIC Certificate # 35489). For more info on ING Direct's financial condition and ING's future divestiture of ING Direct, refer to my last ING Direct post.

Thanks to the reader who mentioned this rate increase in the comments. I would like to also point out that this 12-month CD rate is already listed at the CD rates table at DepositAccounts.com. My technical partner has done a great job coding this new site so it'll fetch rates automatically from the banks' websites. So be sure to check these tables daily. Refer to my latest update on DepositAccounts.com for more info.



 
 
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In order by popularity, then date posted.

Anonymous - #1, Friday, December 11, 2009 - 2:06 PM CT

They are probably desperate for money because they are in trouble and are planning to leave the US market soon I believe.


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Anonymous - #2, Friday, December 11, 2009 - 5:23 PM CT

ING never wake up to the reality of online savings competition. Their management sucks. Their customers suffer. And this minor rate change will not save them a bit!


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Anonymous - #3, Saturday, December 12, 2009 - 10:24 AM CT

On a different tone, they are probably desperate to get new customers and new money so that when they sell their US deposit accounts, they can get big $. An advantage for an ING CD is that it's easy to do whatever you want to do as you approach your maturity date!


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w/ interest - #4, Saturday, December 12, 2009 - 12:18 PM CT

be critical all you want.... but 2% on a 12 month cd is a good deal (unfortunately) right now.


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Scott - #5, Saturday, December 12, 2009 - 12:49 PM CT

I can't take advantage of this since I'm maxed out for coverage with them from some 12 month 2.25% CDs I did recently. I for one will miss ING, Have had accounts there from their start. Great CSR's and opening an account even in my trust name was so easy. Even opened a CD on a Sunday once, Not many banks could do that.


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