ING DIRECT is Lowering Rates

by PT on January 23, 2008

I just heard from ING DIRECT.  They are lowering their rates as of 1/23/08.  I assume this had to do with the Federal Reserve’s interest rate cut.  Here’s the excerpt:

ING DIRECT’s Orange Savings Account has changed to 3.65% APY.The rates for the Electric Orange Checking Account have changed as well.

  • $0-49,999.99 earns a 2.50% APY
  • $50,000.00-$99,999.99 earns a 4.00% APY
  • $100,000.00 or more earns a 4.25% APY
    Rates are variable and effective 01/23/08

The savings account rate is down from 4.10% APY.  Bummer.  I have several accounts with ING DIRECT:

All will be affected and my interest earned at the end of 2008 will be less than expected (assuming the rate doesn’t go back up).  However, even with the rate cut, I still think ING DIRECT is the solid, flexible choice for your short-term savings.  Here’s a FOX News article still touting them and their use for scared investors who’ve yanked their money from the market.

Check out my $25 signup bonuses for ING DIRECT savings.

  1. ING DIRECT Lowered Rates Again!
  2. Current Checking and Savings Account Rates and More ING DIRECT Sign-Up Bonuses
  3. ShareBuilder Has Been Acquired by ING DIRECT
  4. How to Setup Multiple Savings Accounts at ING DIRECT
  5. How I Set Up My Bank Accounts the Right Way

Tagged as: bank, ING Direct, news, savings

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