ING Rates Drop

My ING Direct On-Line Savings Account dropped it’s rates to 3.65% as a result of the Fed lowering rates by 3/4 of a point.

You know that you are winning with money when you are mad that the Fed is lowering interest rates!

I know that Emigrant is currently at 4.30% and HSBC is at 3.80%.

I have money in ING Direct and HSBC.  Hey, 3.65% and 3.80% is WAY BETTER than the crappy 0.25% and nuisance fees that my old savings account had.  Are YOU earning this type of interest on your savings?  If not, you should check out these great banks/accounts.

I think I would probably be motivated to move my money if there was more than 1% disparity.

Are you a rate-chaser for your savings account money?  If you are, how much is enough to make you move your money?

AUTHOR’S UPDATE:  ING has now dropped their rates to 3.40% and Emigrant dropped to 4.05%.  ARGH!

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  1. pfodyssey on February 2, 2008 at 3:43 am

    Ge Interest Plus – do it.

    Rate Yield
    Less than $15k 4.50 4.59
    $15k – $49,999 4.65 4.75
    $50k and more 4.80 4.91

  2. J.R. on February 2, 2008 at 4:21 am

    That’s the 2nd or 3rd time it has dropped in the past 6 months. Not liking that!

    Once more and it will move for sure!

  3. JC on February 2, 2008 at 9:07 am

    How about E-Trade Bank? It’s still at 4.40%

  4. Tina Harkey on February 2, 2008 at 4:35 pm

    Capital Bank in NC offers 5.01% on their checking accounts.

    They do offer online banking.

    Exceptional interest rates earned on daily collected balance.
    Minimum opening deposit is only $100.00 and no minimum balance is required.
    No monthly service fee
    All ATM fees are refunded at the end of each statement cycle if monthly account conditions are met.
    Unlimited free transactions.
    Monthly electronic statement includes free check images.
    Monthly conditions include each of the following:
    One direct deposit or draft
    Ten debit/check card transactions
    View your statement online
    Rates are variable and subject to change.

  5. eMoneyCentral on February 2, 2008 at 5:16 pm

    It’s difficult to plan a move to a higher yielding account at this time since rates will probably continue to fall in the next few weeks.

    However, you can make a reasonably accurate prediction that in the long-term you will make more interest from a non-ING Direct savings account. That’s because ING has had one of the lowest rates on an online savings account for the past two years and I would expect that to continue into the future.

    So even if the rate spread between savings accounts isn’t that big, the extra interest may actually add up in the long-run.

  6. dcb on February 6, 2008 at 5:00 pm


    Bank of Anderson has 5.55% guaranteed through 6/30/08 on the first $25,000. 3 qualifications, though: (1) 10 debit transactions/mo. , (2) receive paperless statements , (3) 1 ACH or direct deposit transaction/mo. Other than that FNBOdirect has 4.3% rate (just shy of your 1% threshold 🙂 )

    Here are some others:

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