If you are hoping to grow your savings in a timely manner, it is important to invest your money with a bank that can provide you with high interest rates and multiple account options. Investing your money with ING Direct Bank is a great way to save your money as they can provide you with multiple services including the following:
- Online Savings Account
- Checking Account
- Home Loans
With many different account options to choose from, ING Direct is one of the best banks that we have reviewed. Customers often give them a 5 star rating for their competitive rates and large variety of services. After signing up for an account, our Ratehero team is pleased to give a 4.7 star rating to ING Direct for the following:
- Competitive rates
- Customer service
- Website usability
Out of all the banks we have reviewed, ING Direct continues to be one of the top online banks. We have found that the website is easy to navigate, which can reduce a lot of frustration with other online banks. Transferring your money is easy to do and with some of the top rates, you will find that it’s easy to grow your savings in a timely manner.
ING Direct opened in 2000 and has become one of the fastest growing banks online. There are currently about 7.5 million Americans that are investing their money with ING Direct. The online checking account is one of the best out there. The only downside we have found to working with ING Direct is the customer service. Compared to some of the other banks out there, ING Direct has a difficult time being prompt with their response rate and handling customer concerns in a timely manner.
Many people have heard about ING Direct thanks to their Orange Savings Account. The Orange savings is quite popular and pays a higher interest rate from most savings accounts. When you compare rates to traditional savings accounts, the ING Direct Orange Savings Account can pay you up to 5 times higher than the National Average! This is a significant amount of money you can be earning if you will choose to invest your money with ING Direct.
One of the key features we loved about ING Direct is that you do not need to pay fees for the savings account. You simply link the account to your bank so you can transfer over the money and within 5 business days or less, the money is in your account and it will start earning interest. ING Direct makes it easy to save as you can create an automatic savings plan. This makes it easier for you to save money so you don’t need to worry about transferring the money over from your account or mailing a check in.
Since the Federal Reserve is in charge of setting interest rates, it is important to monitor the interest rates for savings accounts to know you are getting the best deal out there. Comparing rates online will help you to know which banks are the best banks to work with if you want to find the top interest rates. One thing to remember is that when you start chasing rates, you have to be careful as it can end up hurting your overall investment amount. You may have fees for closing accounts. These fees can really hurt your ability to earn more interest money or it may end up depleting the money you have been able to earn in the first place.
To open your account with ING Direct, you will need to have a bank to transfer the money from. The entire process will take about 5 minutes as you will need to have all of your bank information to input. Once you do this, you will need to make the initial $1 deposit amount as this will link the two accounts together. Linking your existing checking account to ING Direct makes it easy for you to set up an automatic savings plan. Each transfer to and from the account will be free when using ING (check with your bank to see if there are charges for transfers).
For online savings accounts, ING Direct really does have the best option out there. If you are hopeful for some other investment options as well, ING Direct will help you out here as well. Their interest rates on CDs are some of the best online as well. The CD accounts do not take long to open but you will need to pick the account terms that you are comfortable with. ING Direct CD accounts range in terms from 1 to 5 years. The longer the term on a CD account, the higher your interest rate will be.
If you want to save with the best interest rates and one of the top banks, you can’t go wrong when you invest your money with ING Direct!