ING Savings Account:
A better savings account?

The ING Savings Account is from ING DIRECT, an online banking resource and a very practical way to save money. We have seen their commercials on TV but have never considered opening an online account. There were two key factors to opening our first account.

  • Bank Frustrations
    Our frustrations grew with Bank of America. Not only did they keep charging us for unwarranted fees in our business accounts, but our personal savings accounts earned close to nothing. We were in search of high interest savings accounts.
  • Wealth Coordination Account
    One of our advisors had suggested to us that we open up a wealth coordination account. Basically, whenever we have an increase in cashflow, we put money into this account first and have it flow to other productive areas. This helps us not spend the extra cash. He then suggested an ING savings account.

So we did some research and this is what we found:

With an Orange Savings Account from ING DIRECT, benefits to account holders are:

  • A variable 1.10% Annual Percentage Yield on savings every day
  • No minimum deposit
  • No hidden fees or service charges
  • 24-hour access to your account

At the time of this writing, this is how it compared with Bank of America's Growth Money Market Savings

  • A balance between $10,000.00 to $24,999.99 earns a measly 0.30% APY.
  • You must maintain a minimum balance of $5,000 or more in your account...
  • ...if you don't, do you think you will be charged fees and service charges? These extra fees are a perfect example of an eroding factor of money.

We like the simplicity of ING's online banking model. I believe they provide a high interest savings account because they have no physical banks. They have significantly decreased their overhead costs.

A Free Gift For New Customers

ING DIRECT gives new customers a $25 bonus!


Share Your
Creative Ways to Save Money

Do you have brilliant ways to save money? Share your strategy here!

Win: You will receive $25 for signing up.

Win: I will receive $10 for each referral used. This is a great deal for both of us.

Win: You can do this too! ING DIRECT offers a $25 bonus to all new referred customers who use the referral links to open an account with an initial deposit of $250 or more. Once you have an account, you can refer other people who will also receive the $25 for signing up, and you will get $10.

It's a win-win-win scenario!

Benefit from a High Interest Savings Account

Take advantage of this high interest savings account. High interest rates for savings just don't exist in brick and mortar banks.

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