Hey guys. I was thinking about getting a 1yr CD. ING looks like a good choice, does anyone have any experience with them?





Hey guys. I was thinking about getting a 1yr CD. ING looks like a good choice, does anyone have any experience with them?
Some Douchebag: "[Pimp C] 12:43 am: its true we got to stick together the black people on SW CK you is teh condoleeza of SW"
One of the guys at my office job uses them for savings and CDs, I think. He loves them and gets like a 4% or 4.25% return on his money in a SAVINGS account, which is pretty nice. (A lot of banks only give like .25%) He says it takes about 48 hours to get your money. But he says it's great.
The best 1 year CD's are currently earning about 5.4% compounded daily. ING Direct is OK -- but I think the ING Direct CDs earn SIMPLE INTEREST (i.e. no compounding). So a 5.4% interest rate on an ING Direct CD will earn you less than a 5.4% interest rate from an institution that uses daily compounding.
You might try http://www.amtrustdirect.com/ for a CD that's a little better.
(Personally I have no CDs, but with what happened on the stock market today, I'm wishing that I did!)
Let there be peace on earth and let it begin with me.
I learned a long time ago there's no sense getting all riled up every time a bunch of idiots give you a hard time. In the end, the universe tends to unfold as it should. Plus I have a really large penis. That keeps me happy.
(Tarik, Harold & Kumar Go to White Castle)
*repeats*
I'm in it for the long term
*repeats*
I'm in it for the long term![]()



I am a big ING Direct fan for its savings account. As for 1 year CDs, you may want to check out the site below. I did a search for you on the 100 top 1-yr CD rates in the US.
http://www.bankrate.com/brm/rate/hig...416&product=15
Oh god, so it wasn't just my stocks!
I have an ING account for my cash that hasn't found a home elsewhere- in Canada the interest rate is only 3.4% (I think), but it's still the best thing going for a high-interest savings account with quick access (I have a bank card I can use for that account, though I never have. Good for emergencies though.)
I will probably renegotiate my mortgage through ING too. And I have some mutual funds through them. Overall, I give them the thumbs up.
Feature costumes for sale!





I've had their Orange Savings account for 2+ years now and have an AIP plan set up. I've been very satisfied with turnaround time on withdrawls. I know nothing regarding the CD's, but those are much better rates than a brick and mortar bank is going to give you.
As for the stock market...
Me too, although locking down some profit would be nice. I'm damned near down to some of my stop-loss numbers.Originally Posted by Emily
Former SCJ now in rehab.



Scarlett: Their mortgage rates are pretty competitive. With that said, ING business model is to be the lost cost provider.. thus minimizing their risks. I have heard that they require lots of paperwork, but my friend was about to refi with limited paperwork. Good louck.
My portfolio lost 5% of its value last week. Fuck.
As for CD's, I religiously buy Money magazine. The current issue lists the best 1, 2 and 5 year CD's by rate. Buy the magazine.
"She has written so well, and marvellously well, that I was completely ashamed of myself as a writer...But this girl, who is to my knowledge very unpleasant and we might even say a high-grade bitch, can write rings around all of us who consider ourselves as writers"
Ernest Hemingway on writer, aviation pioneer and horse trainer Beryl Markham




When purchasing CDs everyone looks at the interest rates. It is important but another factor should be considered as well. Emergancies always arise. What are the penalities for early withdrawl? Not every finacial institution has the same penality scale. Do you have to break up the whole Cd? Can you only withdraw a portion if needed, leaving the rest of the cd intact? When would you have access to the funds?
I would also call around to local banks and credit unions as well. Sometimes they have Cd specials because they need the money on deposit badly. In the past year I have seen banks and credit unions offering Cds at 7 to 10%. They are specials and rare. The only way most find out is by calling around.





also, consider the fact that it's quite probable that US interest rates will continue to rise for the forseeable future, as the US gov't attempts to bring the US dollar exchange rate in for a 'soft landing'. Thus locking up your money for a whole year might prevent you from pursuing higher interest investments. Of course, you could also consider investing in a CD denominated in Euros or Aussie dollars or some other currency ... which might earn you an extra 5%+ in exchange rate gains as well as interest.




Melonie thought you said in another thread those Cds start at $10,000?
Cin go with what you are most comfortable with.





Yes that's a fact ... unfortunately.Originally Posted by Vamp
However, when you stop and think in terms of 'real' purchasing power, if the real US$ inflation rate is something like 5%, if US$ CD's are paying 4% interest, and if the 4% interest is being taxed at a 25% rate as ordinary income, putting money in a US$ denominated CD actually results in a loss of 2% per year !
I have ING for my savings account and I have been so happy with them. I am getting a 4.25% interest rate. However, I don't use it for the interest, I use it as a place to keep an emergency fund. Whenever I've needed money, it's incredibly easy to do a balance transfer into my checking account. AND, whenever, I've wanted to put more money away, it's also incredibly easy to set up one-time deposits and recurring direct deposits.
(just click to donate FREE food to those in need...REALLY!)
Oh, and they have pretty good security features for logging onto the website. Basically, you select your PIN, like a normal bank account. But when you log in, it gives you a number pad, set up like a phone pad, but in place of numbers is misc letters and you type the corresponding letters (to your PIN #). Each time you log on, the letters are different. I feel a lot better with tihngs like that than what my 'regular' bank offers, which is just your PIN.
(just click to donate FREE food to those in need...REALLY!)
I don't have that! I just type in my PIN all normal-like.
Canadians don't steal, that's why![]()
Feature costumes for sale!





I've been using ING Direct to hold my funds for various savings accounts for years now (plus one constant 3 month short term deposit).Very happy with them as far as savings accounts go.
http://www.ingdirect.com.au/personal/savings_max.htm > Every dollar in your Savings Maximiser earns a high 5.60% pa variable interest whether you have $1 or $1million. Interest is calculated daily and paid monthly, so you earn interest on your interest.
As for the internet banking, mine logs out automatically if you havn't done something within 5 minutes plus has a normal (changing each time you login) keypad to enter your PIN.
Just for laughs I even have one savings account with them which only earns 0.01c interest each month...I know that's only 12c a year it's earning however it is still 12c that I didn't have to work to earn
![]()
enter: E3167322D9 for your 10% discount
Bookmarks