ING Savings: Current Savings Account Rates at 1.00%
ING Direct's Orange Savings Account has a current savings account rate of 1.00% with a yield of 1.00%. While this rate isn't the highest savings ratearound it is better than most and better than the FDIC's national average rate of 0.13%. ING Direct which pretty much pioneered the online savings account was recently sold by ING to Capital One Financial.
The ING savings rate is a variable rate just like any other savings account or money market account. The interest rate can change at anytime though they seem to have left the rate at 1.00% for several months now.
If you want to lock in an interest rate ING Direct also offers certificates of deposit with several different terms. You can lock in a 1.00% rate on a CD account for up to 5 year at ING but I would recommend doing so since bank CD rates are so low right now. CD rates have been low for several years now because the economy is barely expanding and inflation is low.
ING Direct also offers mortgage products and home equity loans. Speaking of locking in a rate, today's mortgage rates are so low if you're looking for a home loan you should lock in a rate before rates move higher.
Orange Savings Account Benefits:
You can view more information about the ING Orange savings account and open an account on the bank's website here: ING Direct Account Application.
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