Want a higher interest rate than your current savings account?
May 31st, 2008 by George
I don’t pretend to be a financial wizard, but when I was looking for a new savings account with a higher interest rate than my current brick and mortar bank was giving me, I found adding an ING Direct Orange Savings account was the move for me. Their rate was ten times what I was getting when I signed up and as of the time of this writing their Orange Savings account offers a variable 3.00% Annual Percentage Yield (effective 03/19/08).
Maybe ING Direct is for you.
NOTE: A variable interest rate isn’t for everyone, so if you’re not sure how it works do some homework. A good start may be googling variable interest rate and doing some reading.
DISCLAIMER: As with everything on this blog I’m just talking about what works for me and I don’t make any guarantees. Heck, I love ING for savings but I’m not getting paid to advertise for them. I believe opening a savings account with ING is a good decision, but you should do your own research on the subject and make your own decision as it fits your lifestyle and financial circumstances.
This entry was posted on Saturday, May 31st, 2008 at 12:07 pm and is filed under Finance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
June 1st, 2008 at 5:06 pm
I’ve got one of those. The rate, just a little while back was around 5% but of course it’s come down somewhat. Still it’s a lot more than the average bank seems to want to pay.
June 2nd, 2008 at 10:35 am
I think it was 4.25 to 4.5%when I joined. It was a fixed rate, too. I’m glad I got in early, but as you say ING Direct’s is much higher than banks seem to offer.