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ING Direct 3.00% Orange Savings Account Archived From: Finance

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alert mods    
   posted: Apr. 5, 2005 @ 11:36a

Booyah Achieved!


alert mods    
   posted: Apr. 5, 2005 @ 11:41a

Great news!


alert mods    
   posted: Apr. 5, 2005 @ 11:56a

Nice. Thanks OP!


alert mods    
   posted: Apr. 5, 2005 @ 12:07p

byamagata said:adiganifatwallet said:
If they think that inflation is nothing, they're gonna increase interest rate again...


Incorrect. One of the reasons the Feds increase the interest rate is to lower the rate of inflation. Higher interest rates lowers the liquid supply of money which lowers the rate of inflation.

If you want to get technical then your explanation is incorrect. The Fed performs an open market sale of bonds which lowers the supply of money. The Fed controls the supply of money and not the interest rate. The reduced supply of money is the cause of higher interest rates, and not the other way around.


alert mods    
   posted: Apr. 5, 2005 @ 12:40p

Thanks, OP!
Guys, I want to open The Orange Savings and want to confirm with anybody who already got it - there is really no fees whatsoever? That's what it says on their site, but I want to make sure. Thanks for info, feel free to PM me, no need to threadcrap.


alert mods    
   posted: Apr. 5, 2005 @ 12:47p

How much percent interest does emigrant give?


alert mods    
   posted: Apr. 5, 2005 @ 12:48p

CrazyRus said:Thanks, OP!
Guys, I want to open The Orange Savings and want to confirm with anybody who already got it - there is really no fees whatsoever? That's what it says on their site, but I want to make sure. Thanks for info, feel free to PM me, no need to threadcrap.

No fees, no minimums...but you might be better off if you go with Emigrant Direct. Same kind of account, only higher APY (3.25% currently).


alert mods    
   posted: Apr. 5, 2005 @ 1:02p

Pygmy said:CrazyRus said:Thanks, OP!
Guys, I want to open The Orange Savings and want to confirm with anybody who already got it - there is really no fees whatsoever? That's what it says on their site, but I want to make sure. Thanks for info, feel free to PM me, no need to threadcrap.

No fees, no minimums...but you might be better off if you go with Emigrant Direct. Same kind of account, only higher APY (3.25% currently).No sign-up bonus at Emigrant.
So, the trade-off is between additional 0.25% at Emigrant vs. $25 bonus at ING.


alert mods    
   posted: Apr. 5, 2005 @ 1:10p

luckymndog said:Pygmy said:CrazyRus said:Thanks, OP!
Guys, I want to open The Orange Savings and want to confirm with anybody who already got it - there is really no fees whatsoever? That's what it says on their site, but I want to make sure. Thanks for info, feel free to PM me, no need to threadcrap.

No fees, no minimums...but you might be better off if you go with Emigrant Direct. Same kind of account, only higher APY (3.25% currently).No sign-up bonus at Emigrant.
So, the trade-off is between additional 0.25% at Emigrant vs. $25 bonus at ING.
currently, you would need to invest $10,000 for 1 year at Emigrant to make the extra $25 that ING gives you for free when you open your account.


alert mods    
   posted: Apr. 5, 2005 @ 1:28p

Or you could get a referral to VirtualBank and ING ($20 and $25) and then open up an Emigrant account.

Yes I have all 3- Ive been moving my $$ around to the highest account, as Im sure many, many FW's have been doing.

Dan


alert mods    
   posted: Apr. 5, 2005 @ 1:34p

fyleow said:byamagata said:adiganifatwallet said:
If they think that inflation is nothing, they're gonna increase interest rate again...


Incorrect. One of the reasons the Feds increase the interest rate is to lower the rate of inflation. Higher interest rates lowers the liquid supply of money which lowers the rate of inflation.

If you want to get technical then your explanation is incorrect. The Fed performs an open market sale of bonds which lowers the supply of money. The Fed controls the supply of money and not the interest rate. The reduced supply of money is the cause of higher interest rates, and not the other way around.


Higher interest rate (R) ---> people deposit more and hold less cash ----> less money supply . Apparently interest rate do affect money supply and inflation rate.


alert mods    
   posted: Apr. 5, 2005 @ 1:50p

This is great news, it's always good when your money works for you.


alert mods    
   posted: Apr. 5, 2005 @ 1:54p

What's the 1 year CD's interest rate at ING? thanks


alert mods    
   posted: Apr. 5, 2005 @ 2:00p

Minoritydan said:Or you could get a referral to VirtualBank and ING ($20 and $25) and then open up an Emigrant account.Or you could just get $50 by signing up for ING with TaxCut or Quicken codes.


alert mods    
   posted: Apr. 5, 2005 @ 2:03p

porchegooda said:What's the 1 year CD's interest rate at ING? thanks

3.25%


alert mods    
   posted: Apr. 5, 2005 @ 2:04p

If you have the software, sure. DO whatever gets you the most money.


alert mods    
   posted: Apr. 5, 2005 @ 2:08p

I just opened ING with a $50 sign up bonus, there is a thread about it - Taxcut Deluxe. Figured with that bump from the start, CapitalOne and Emigrant would have to a significantly higher rate to beat ING for the year in terms of interest. Would need to be over .25% higher on 20k to do that. If the gap increases, I may look at opening with one of them, but with referral bonuses, etc., ING seems likely to hang with any of them.


alert mods    
   posted: Apr. 5, 2005 @ 2:14p

True. If you can get the bonus and referrals by all means go for it.

I have had the account for a while and have all but exhausted the referrals, so it makes sense to move to the higher rate.


alert mods    
   posted: Apr. 5, 2005 @ 2:14p

i closed my ING account two months ago. Can I sign up a new account to get $50 taxcut bonus?


alert mods    
   posted: Apr. 5, 2005 @ 2:18p

I would think so...it only requires that you have a different primary account holder...therefore, I would think that couples could also open two accounts with each being a primary on an account. Anyone tried this?


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