4.75% at ING!?!?

[MattCo]

Looks like ING is giving 4.75% APY on new deposits until April 15th to new and existing customers. Time to up my contributions to my Orange account.


-MC

 

[GT1999]

This is CD, right?

 

[isasir]

Nice. I'm glad to see it's not just for new customers either!

It's for savings!

 

[MattCo]

Originally posted by: Geekish Thoughts
This is CD, right?

Nope, Savings.

-MC

 

[GT1999]

Originally posted by: MattCo

Originally posted by: Geekish Thoughts
This is CD, right?

Nope, Savings.

-MC

Noice. :Q

 

[tbike06]

Savings. W00t I need to get in on this. :thumbsup:

Edit: too slow. :laugh:

 

[robphelan]

link? i'm only seeing 3.8%

 

[MattCo]

Originally posted by: robphelan
link? i'm only seeing 3.8%

http://home.ingdirect.com/products/products.asp?s=SaveUp

 

[Rudee]

The key word is "new deposits" your prior balance is still earning the lower rate.

 

[SeaMonki]

Cool! Just moved majority of my HSBC online savings at 4.25% into ING savings.

 

[Zombie]

Are your mortgage and other loans paid off?

 

[SeaMonki]

Originally posted by: Rudee
The key word is "new deposits" your prior balance is still earning the lower rate.

Existing customers count too, it's just a promotional interest at 4.75% until April 2006. After April, the interest rate goes back to regular.

 

[shortspanishguy]

pm me your email if you need a referral to ING.

 

[MattCo]

Originally posted by: SeaMonki

Originally posted by: Rudee
The key word is "new deposits" your prior balance is still earning the lower rate.

Existing customers count too, it's just a promotional interest at 4.75% until April 2006. After April, the interest rate goes back to regular.

Well, the higher interest is only on new deposits from 1/19 to 4/15. The prior balance still earns 3.8%

-MC

 

[cHeeZeFacTory]

NICE. hot deal

 

[Rudee]

Originally posted by: SeaMonki

Originally posted by: Rudee
The key word is "new deposits" your prior balance is still earning the lower rate.

Existing customers count too, it's just a promotional interest at 4.75% until April 2006. After April, the interest rate goes back to regular.

I'm not saying existing customers don't count, what I am saying is if you have $1000 in your ING account before today, that $1000 balance will earn the previous lower rate. Deposits after today (new deposits) until April 15th will earn the 4.75%. At least that's how they do it in Canada, as we had something similar with ING in Canada back in December. The catch was "new deposits". Existing deposits earned the old rate. It was a bit of a jip that I couldn't get the higher rate on my entire balance, just new deposits added to that balance.

 

[dabuddha]

Originally posted by: shortspanishguy
pm me your email if you need a referral to ING.

Referrals are a no no here.

 

[Taggart]

Originally posted by: Rudee

Originally posted by: SeaMonki

Originally posted by: Rudee
The key word is "new deposits" your prior balance is still earning the lower rate.

Existing customers count too, it's just a promotional interest at 4.75% until April 2006. After April, the interest rate goes back to regular.

I'm not saying existing customers don't count, what I am saying is if you have $1000 in your ING account before today, that $1000 balance will earn the previous lower rate. Deposits after today (new deposits) until April 15th will earn the 4.75%. At least that's how they do it in Canada, as we had something similar with ING in Canada back in December. The catch was "new deposits". Existing deposits earned the old rate. It was a bit of a jip that I couldn't get the higher rate on my entire balance, just new deposits added to that balance.

Just withdraw all but $1 and then redeposit it.

 

[spidey07]

is this fixed/permanent?

-edit- read the offer, that rate is only until april 15 and then back to the normal rate.

 

[Baked]

Can't you just move all but $100 from your ING, then move it back? Cha Ching!

Edit: God damn it, late on the post.

 

[MattCo]

Originally posted by: Baked
Can't you just move all but $100 from your ING, then move it back? Cha Ching!

Edit: God damn it, late on the post.

Unfortunately not, they subtract all withdrawls during the timeframe from the amount you can get 4.75% on.

-MC

 

[Rudee]

Originally posted by: Taggart

Originally posted by: Rudee

Originally posted by: SeaMonki

Originally posted by: Rudee
The key word is "new deposits" your prior balance is still earning the lower rate.

Existing customers count too, it's just a promotional interest at 4.75% until April 2006. After April, the interest rate goes back to regular.

I'm not saying existing customers don't count, what I am saying is if you have $1000 in your ING account before today, that $1000 balance will earn the previous lower rate. Deposits after today (new deposits) until April 15th will earn the 4.75%. At least that's how they do it in Canada, as we had something similar with ING in Canada back in December. The catch was "new deposits". Existing deposits earned the old rate. It was a bit of a jip that I couldn't get the higher rate on my entire balance, just new deposits added to that balance.

Just withdraw all but $1 and then redeposit it.

Against the rules. I thought I could pull the same thing but the rules of the promotion state that the previous balance will not count toward the promotional rate, thus if you withdrawl and deposit again it does not count. However, if you have a big balance with another bank such as HSBC, you can certainly transfer it into ING if the rate of return is better, but your previous ING balance is not counted. Not a very exciting promotion for this very reason IMHO.

 

[spidey07]

well after reading some more, you should earn a little of 4% for the year on these deposits.

I was planning on making a large deposit anyway so I'll be happy to take advantage of it.

 

[DBL]

Time to transfer my savings back to ING from Emigrant.

 

[Deleted member 4644]

What is the difference between APY and Interest rate?