looks like all the previous ING Savings threads have died.
But for those of you who don't have ING yet, or have one but have extra money sitting around not earning you any interest, now's a good time to jump on the ING bandwagon.
For all deposits between now and April 15, you will earn 4.75%.
http://home.ingdirect.com/products/products.asp?s=SaveUp
After April 15, your entire balance goes back down to the normal interest rate, but at 3.8% that's still a hell of a lot better than most banks.

also be sure to check out the CDs if you have some $Texas that you don't necessarily need for a few months/years to get a decent rate (4.2-4.8%) at zero risk -
http://home.ingdirect.com/products/products.asp?s=OrangeCD

and of course, that leads me my ulterior motives - if anyone else needs a referral, let me know!

2/6/2006 5:02:31 AM

it's awesome that you can get 4.75 on savings right now - you could just deposit a bunch of money into savings right now and get the same or better than with a CD

2/6/2006 8:52:36 AM

yep - it's for all deposits from external accounts (minus withdrawls) between Jan 19 and Apr 15, and after Apr 15 it goes back down, so at this point it's only like 2 months at that rate, so you won't get any compounding or anything. But it's an easy way to make a hundred $ if you have a few thousand laying around in another account earning 0.8% or whatever. ok, more like $40, if you're lucky, but just keep it in there to make 3.8% afterwards, or dump it into a 6,9,12 month CD to get >4%

2/6/2006 9:08:29 AM

im glad you made this thread
it made me remember that i have an IMG account
i had forgot all about it

2/6/2006 10:46:35 AM

SECU is paying 4.0% APY on its money market accounts. That's 4% on the whole balance which is better for most people than 3.8% + 4.75 until April.

2/13/2006 10:25:24 PM

^ yeah this is only worth it to people who can't get get a SECU account

2/13/2006 11:11:03 PM

oh fuck I better seize the opportunity to get a SECU account

2/14/2006 2:06:46 AM

Walk-all-ova ya dropped me a line saying 10 month CDs with them earn 4.5% with 5k minimum, does anyone know how that compares to other banks in the area?

2/14/2006 8:09:54 AM

id be happy to refer you to ing also



[Edited on February 14, 2006 at 9:04 AM. Reason : wow]

2/14/2006 9:02:00 AM

I don't know about the brick and mortar banks, but the rate is slightly better than ING, but ING doesn't have the 5k minimum.

The credit union has 4.5%, $250 min, 6-30 months.

It's also worth mentioning that interest on CD's isn't compounded. So long term a lower rate in a savings account might earn better than a CD.

[Edited on February 14, 2006 at 10:06 AM. Reason : ?]

2/14/2006 9:59:27 AM

Just noticed today that in order to get the referral bonuses (for both parties), the new member must deposit at least $250. When I signed up, no initial deposit was required, and the ING bonuses were deposited after 30 days.

2/14/2006 11:48:44 AM

i want a cut or this gets locked!

2/20/2006 5:07:09 AM

I'll give you a cut
















WITH A BOX KNIFE





Also I have referrals as well

2/20/2006 11:12:26 AM

ING regular rate up to 4.0%
9 month CDs at 4.75%

4/9/2006 6:03:03 AM

I have referrals too.

Seriously its amazing how easy it is to save with their automatic withdraw and savings rate.

4/9/2006 1:35:19 PM

i have an ING account and also have a virtual bank account which pays 4.5% so im putting more money in there. Plus they have referrals that pay more.

4/10/2006 12:01:58 AM

i just happened to deposit $4K in my ING savings today. am i getting the 4.75% for the next year on that??

4/10/2006 12:08:59 AM

^ no, you'll get 4.75% for the next 5 days, until april 15, then it will drop back down to the normal 4.0%. That was just a special promotion for pre-tax day savings.
If you transfer it into a 9 month CD you will get 4.75% though, or higher in a 12 month CD

4/10/2006 2:20:35 AM

g-damn. it's up to 4.15%

5/3/2006 1:30:28 PM

4.15%? thats pretty far behind most rates right now. 4.5% is pretty much the minimum

5/3/2006 5:44:46 PM

what?

5/4/2006 1:51:07 AM

what should i do with some money i saved


about $3.5k

5/4/2006 2:03:02 AM

Emigrant Direct is now at 4.5%

5/4/2006 7:03:02 AM

I just opened one at 4.35%

7/18/2006 1:50:03 PM

I think I'm gonna get a money market account with Bank of America. I believe its a 5% interest rate, compounded daily.

7/18/2006 1:53:43 PM

Am I missing something?

http://www.bankofamerica.com/deposits/checksave/index.cfm?template=save_moneymarket&context=tabpage_Rates_Fees

[Edited on July 18, 2006 at 1:58 PM. Reason : link]

7/18/2006 1:57:45 PM

Bank of America has shitty service.

7/18/2006 1:58:56 PM

^^????

7/18/2006 4:01:06 PM

packguy made like 100 bucks off of this when he did it...no lie

7/18/2006 4:04:13 PM

I made like 70 bucks off of it, but I gave up when I saw the people had to deposit $250 bucks for me to get the cash.


But I still have referrals if anyone is planning on opening an account.

7/18/2006 4:10:45 PM

Quote :

"^^????"

I don't see any 5% rate.

7/18/2006 4:16:21 PM

Im going to open an account in the next few days since I got some money not doing anything. How much do I get with the referral?

7/18/2006 4:52:24 PM

Emigrant Direct - 5.15%, no minimums, no referral bullshit

http://www.emigrantdirect.com/

(the site only says 5.00% right now, but it will be bumped up to 5.15 in a few weeks according to my statement letter I just got in the mail)

7/18/2006 5:06:51 PM

emigrant's site seems a little amatuerish

i feel a little more confident with ING

7/18/2006 5:08:37 PM

Whatever makes you more comfortable. To me, the fact that ED's website is not all flashy and javaified signifies that they don't have a massive IT department nor do they spend much money on advertising/etc. Thus, more money for me.

7/18/2006 5:16:57 PM

weak arguments..... when your business model is based in online transactions, you'd sure as hell better have a nice looking, functional website, not one that looks like it was made by Bobs Webpage Design.
and "no referral bullshit"? ummmm, it's free money for the referrer and the referree..... what's "bullshit" about that?

not that i have anything against emigrant, but why the hate for ING? they have great rates and have never wronged anyone here that I know of....

7/18/2006 5:21:38 PM

Some one send me one of those referrals

wait nevermind my brick and morter bank now pays more than them

[Edited on July 18, 2006 at 5:26 PM. Reason : .]

[Edited on July 18, 2006 at 5:27 PM. Reason : .]

7/18/2006 5:24:38 PM

that's good to hear. People should use whatever bank gives them the best return and best fits their needs.
I'm glad that some traditional banks are finally getting back into giving decent rates instead of the <0.5% that a lot are still stuck on.

7/18/2006 5:38:35 PM

Quote :

"wait nevermind my brick and morter bank now pays more than them"

what bank is that? Wachovia gives 0.35%

7/18/2006 6:01:39 PM

I'm not hatin' on ING, I just think that using tactics like "referral bonuses" to recruit new customers is a bit like FreeIpods.com and other pyramid schemes. That's a bad example, but you get my point.

Quote :

"ummmm, it's free money"

Apparently you have never taken a simple economics course, otherwise you'd know there is no such thing as "free money".

Bottom line is this: I want my bank to spend as little money as necessary on anything other than investing my money while it sits in their posession. I don't need a hot Web 2.0 interface that can stream RSS feeds to my cell phone, I just need a secure way to check the balance and transfer funds. I don't care what it looks like.

The facts don't lie, folks - ED has the highest no-fee savings account interest rate in the country right now, and I'm sticking to them.

[Edited on July 18, 2006 at 6:17 PM. Reason : ]

7/18/2006 6:15:50 PM

^^ 5.99% USAA
4.60% SECU

.35% Wachallovia hahahah, are they still charging people 5 bucks if they go inside the bank for service more than twice.

[Edited on July 18, 2006 at 6:21 PM. Reason : .]

[Edited on July 18, 2006 at 6:35 PM. Reason : .]

7/18/2006 6:21:16 PM

Quote :

"Apparently you have never taken a simple economics course, otherwise you'd know there is no such thing as "free money"."

i have 2 engineering degrees and an MBA, so yeah, i know what cost of capital is.
Your arguments against ING are still weak and irrelevant. That's great that ED has a high interest rate, but ING is not a flash-in-the-pan Web 2.0 online bank that may go belly up if they spend too much money on putting more orange on their site. If you read up on one of the other ING threads recently, ING has a long long history as a traditional bank in Europe and is well backed. The cost of creating nice and ultra-functional websites (on top of the required security and basic features) and spending $25 to gain a new customer is trivial in the cost structure of these places. ING, Emigrant and Wachovia probably spend more on coffee for their sales reps each year than adding flash and jazz to their websites.

7/18/2006 6:37:58 PM

So essentially you are saying that you prefer a "long long history as a traditional bank in Europe" over a higher interest rate? While ED doesn't have European roots (though it is a B&M bank in NY), the FDIC doesn't back just anyone these days. As long as they retain their FDIC backing, it's safe enough for me.

Apologies for insulting your educational background.

7/18/2006 6:52:36 PM

no, i really don't care that much. I have had an account with ING for 4+ years now, so i'm sticking to them.

If you or anyone else is just getting into a higher rate savings account, please, by all means, go with SECU if possible or ED, or someone else with 5%+

7/18/2006 7:01:58 PM