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ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 07:57 AM   #1
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ING Is Paying 3% on Savings Accounts

Not too shabby really. It beats my credit union. Also the rates for CDs are pretty competitive.

ING DIRECT currently offers the following Orange CDs
Term APY Interest
Rate Effective Date
1 Year 3.45% 3.45% 03/30/05
2 Year 4.00% 4.00% 03/30/05
3 Year 4.25% 4.25% 03/30/05
4 Year 4.40% 4.40% 03/30/05
5 Year 4.50% 4.50% 03/30/05

SWR
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Re: ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 08:58 AM   #2
 
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Re: ING Is Paying 3% on Savings Accounts

Quote:
ING DIRECT currently offers the following Orange CDs
Term APY Interest
Rate Effective Date
1 Year 3.45% 3.45% 03/30/05 ...
SWR
The CD rates are climbing nicely. Last month, I bought a 3.5% APY 12-month CD and a 3.5% APY savings account, both at local banks (Illinois).
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Re: ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 10:20 AM   #3
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Re: ING Is Paying 3% on Savings Accounts

Emigrant Direct Savings is still 3.25 and Corus Bank has a 1 year CD minimum of 10K at 4.06. *

Corus seems to increase their rate about every couple of weeks. *I'm going to open one within a week. *

Those are the best rates I've seen lately and I look regularly.
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Re: ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 12:33 PM   #4
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Re: ING Is Paying 3% on Savings Accounts

Quote:
Corus Bank has a 1 year CD minimum of 10K at 4.06.

Corus seems to increase their rate about every couple of weeks. I'm going to open one within a week.

Those are the best rates I've seen lately and I look regularly.
Have you checked Corus' financials, I have not. I was wondering how they rated.

SWR
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Re: ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 02:02 PM   #5
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Re: ING Is Paying 3% on Savings Accounts

No, I haven't cehcked their financials.

MJ has been posting about them for a few months, maybe he know something......
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Re: ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 02:29 PM   #6
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Re: ING Is Paying 3% on Savings Accounts

I just glanced over their 2004 report, from the link that is on their home page, and it does not look so bad. A lot of outstanding loans.

SWR
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Re: ING Is Paying 3% on Savings Accounts
Old 04-08-2005, 03:08 PM   #7
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Re: ING Is Paying 3% on Savings Accounts

Rates are moving now. Will knock the hell out of my
bond NAVs eventually. Maybe I'll live long enough
to see them come back.

I'm still getting 3.25% locked 9 months I think
(Illinois). The best part is that all the money in there
was borrowed at -0- APY, which is also locked for
about a year. Money for nothing

JG
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Re: ING Is Paying 3% on Savings Accounts
Old 04-09-2005, 06:31 AM   #8
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Re: ING Is Paying 3% on Savings Accounts

Quote:

Have you checked Corus' financials, I have not. I was wondering how they rated.

SWR
I checked them out at bankrate.com. They look like a solid financial institution but you can look them up and reach your own conclusion.

http://www.bankrate.com/brm/safesound/ss_home.asp

Don't forget they are FDIC insured.

MJ
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Re: ING Is Paying 3% on Savings Accounts
Old 04-09-2005, 09:25 AM   #9
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Re: ING Is Paying 3% on Savings Accounts

I have 3 big laddered CDs maturing in June and July this year, I will do an evaluation at the time and spread the cash about. At the moment it is with one FDIC insured instution in a trust.

SWR
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Re: ING Is Paying 3% on Savings Accounts
Old 04-09-2005, 02:15 PM   #10
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Re: ING Is Paying 3% on Savings Accounts

I wish that my (missing several rungs) ladder
was CDs instead of junk bonds. Psychologically,
I couldn't handle 5 year CDs at 3-4%. I know it makes
no sense if you figure the total income difference
(between 5% and 7%). Still, I knew that going in.
I think it was partly..........."Yeah, no matter what happens, as long as we get the interest checks it
will be okay." And..............we are still getting the checks.

JG
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