Want a higher interest rate than your current savings account?

May, 31, 2008

Posted by George
2 Comments

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.

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Posted in Finance by George | 2 Comments

2 Comments "Want a higher interest rate than your current savings account?"

  • Eyebee says:
    June 1, 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.

  • George says:
    June 2, 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.

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