ING Direct CD Rates: 1 Year Bank CD Rates at 0.75%
ING Direct is advertising certificate of deposit (CD) ratesthat are better than the national averages but certainly not the highest CD rates around. Current 6 month, 9 month, 12 month, 18 month and 24 month bank CD rates are at 0.75% with an APY of 0.75%. You can find CD rates at banks higher than those rates. Ally Bank offers a 1 year bank CD rates at 1.13% with a yield of 1.14%.
Longer term CD rates at ING Direct are not much better. 30 month, 36 month and 48 month CD interest rates are at 1.00% with a CD interest yield of 1.00%. Nationwide Bank's 4 year APY is 1.85%.
The Orange CD is only for personal accounts and can not be used for business, power of attorney, beneficiary or individual retirement accounts. ING Direct also has their Orange Savings Account which has current savings account rates and yields at 1.00%. The bank also offers very competitive current mortgage rates.
ING Direct Early Withdrawal Penalty:
The early withdrawal penalty for an Orange CD with a term that is 12 months or less is three (3) months of interest regardless of when, prior to maturity, you make a withdrawal.
The early withdrawal penalty for an Orange CD with a term that is longer than 12 months is six (6) months of interest regardless of when, prior to maturity, you make a withdrawal. You can open an ING Direct CD on the bank's website here: ING Direct CD Application
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