ING Bumps rates - 2.8% for OSA! Archived From: Finance |
MMA-- 2.8%
New cd schedule:
1 Year 3.40% 3.40% 03/22/05
2 Year 3.90% 3.90% 03/22/05
3 Year 4.10% 4.10% 03/22/05
4 Year 4.20% 4.20% 03/22/05
5 Year 4.30% 4.30% 03/22/05
nice...i got updated today too...at this pace...we are looking at +.2% per month
we should be at 5% around this time next year 
My rate is at 2.8%... Just logged in and checked. Although at this point I already opened an emmigrant account at 3.25% and as soon as they send me the letter in the mail I will get that account running and xfer all my money (less $1).
word...ing is starting to feel the pressure of new competitors! this 20bp hike has been one of the biggest ones in a while (before being like 5-15bps), however it does came less than 18 hrs from the fed report...
remove
niktobos said:nice...at this pace...we are looking at +.2% per month
we should be at 5% around this time next year
yeah buying a CD seems silly now.
I know I'm a finance freak (have a degree in it for hecks sake) but right now I'm like equally excited about the rate increase as being the first to Fatwallet with it!
e1superman said:My rate is at 2.8%... Just logged in and checked. Although at this point I already opened an emmigrant account at 3.25% and as soon as they send me the letter in the mail I will get that account running and xfer all my money (less $1).
I think virtualbank also just raised their rate. The main page doesn't show it yet but the rate on my account page shows 2.76% which is about 2.8% APY. It's all pretty much too little too late though as it looks like the easy money is flowing to emigrant.
woohoo
No surprise with the Fed expected to raise the rate .25 later today....I wonder if Emigrant will react and bump their rate to 3.5%?
But unless ING can get their rate closer to Emigrant, why go back? The withdrawal/deposit transfer process will take 3-4 days, you'll switch to a lower rate, and lose some interest during the float time.
I will always go with the highest FDIC savings account. Whether it's ED, ING or Joe's National Trust. ING has a lot of ground to make up. The competition is great for customers. I'll play these internet banks like my ex-wife. Next slide.
Currently my Savings are with ING, Is there any referral services for ED which gives me some bucks like ($25) ING offered by mail a while ago.
jack4nt said:Currently my Savings are with ING, Is there any referral services for ED which gives me some bucks like ($25) ING offered by mail a while ago.
Nope! I don't think they'll need it unless there's competition of others - enough people will switch over from ING and VB.
the fed is raising interest rates this week another .25%. ING is still behind a bit i think.
T
**** LET THE GAMES BEGIN ! **** 
Perhaps ING started to notice $$$ outflow...
a co-worker tells me that Vanguard's money market account pays 4+%, with a $250 minimum. looks like it has check writing ability too. aside from the FDIC insurance of savings, can anybody help me in figuring out the pros and cons of money market vs savings? thanks.
4% actual or 'taxed equivalent'?
Mark
Bull, Vanguards MM is 2.42% - I just looked it up.
Their low rate was the reason I moved to ING in the first place.
Darcy said:a co-worker tells me that Vanguard's money market account pays 4+%, with a $250 minimum. looks like it has check writing ability too. aside from the FDIC insurance of savings, can anybody help me in figuring out the pros and cons of money market vs savings? thanks.\\
more info please!
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