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Orange CD?
Old 02-22-2005, 10:27 AM   #1
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Orange CD?

I see that ING Direct has upped their CD rates. I'm thinking about putting some money in their 1 year 3% CD since its maturity will coincide with my graduation and the money can then be used for any moving expenses and whatnot. I have an account with ING Direct right now so I figure it will be easy. Does anyone have any experiences with their CDs? Do your CD investments and money market all show up on the same page? How do you go about not having the CD renewed, CDs I've had with my bank send me a letter and I call them and tell them. Does ING do it via e-mail? Thanks.

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Re: Orange CD?
Old 02-22-2005, 11:38 AM   #2
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Re: Orange CD?

I see that ING Direct has upped their CD rates. I'm thinking about putting some money in their 1 year 3% CD
If you have $10k min and want to earn 3.54% APY on a 1 year CD try CORUS bank.

Although you can apply online, they force you to wait for the paper work to arrive by snail mail before processing your request. A bit antiquated but that will give you another .54%. Every little bit counts. The bank is highly rated and I have a chunk of money in their CDs. They have been slowly raising their rates staying slightly ahead of the pack for 1 year CDs.


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Re: Orange CD?
Old 02-22-2005, 11:51 AM   #3
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Re: Orange CD?

My recollection with the orange CD is that their early bail out fees were higher than the "good" cd's...I think you have to forgo half the interest?

Check the terms and conditions and compare them to pentagon federal or digital credit union...both of them charge minimal bail out fees.

If you still want to go with ing, break up the cd's into the smallest $ increment possible, so if you need to yank some dough you only have to break a single small cd.
Be fearful when others are greedy, and greedy when others are fearful. Just another form of "buy low, sell high" for those who have trouble with things. This rule is not universal. Do not buy a 1973 Pinto because everyone else is afraid of it.
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