INGDirect Bumped Up Its Rate to 4.50% APY

Got this email this morning from Commission Junction that INGDirect has increased the rate of its Orange Savings Account to 4.50% APY. I then checked with INGDirect and found that newest rate has also appeared on their website.

It seems that ING finally decided to play some catch up, while other popular internet banks hold their lines. The latest rate hike, from 4.40% to 4.50%, however, won't change the picture of online banking as more and more deposits are being driven to places link HSBC, EmigrantDirect, GMAC, Citibank, and E-Loan with above 5.00% yield. So even at 4.50%, there's nothing appealing to savers such that they want to switch from other banks to ING (besides the opening bonus). To be competitive and attractive again, ING definitely has to do more.  

If you enjoyed reading this post, subscribe to the RSS feed.

Featured Financial Products

• Ready to buy stocks/ETFs with zero commission? Check out the Zecco review and try Zecco Trading to get 10 free trades/month.
• Seeking higher returns for your cash? Take a look at the latest interest rates from leading online banks and find out where to get the most for your money.

Related Articles You Don't Want To Miss

1. INGDirect Reference Code
2. 4-Week T-Bill Rate Kept Rising
3. HSBC Direct Rolled Back Rate to 3.25% APY After Promotion
4. HSBC Dropped Rate for Online Savings Account
5. EmigrantDirect Lowers Its Rate To 5.05%