ING Account Bonus
Jan 17th, 2008 by Carlos
What is an ING Savings Account?
It’s a better way to save money. Because ING is an online bank, it doesn’t have the overhead that traditional banks have to deal with, so it can offer its customers a higher savings rate. While this rate may go up and down (around a year ago it was up over 4%), it’s still going to be way over what a brick-and-mortar bank can offer.
Why Open a Savings Account with ING?
Because of the savings rate. Most banks offer savings accounts with a savings rate of 0.5% (my Bank of America account offers that much), which is terrible. If you have $1,000 in a savings account, here is how much you would have at the end of the year:
ING is the perfect place to start and grow your emergency fund (at least three months of living expenses in case you get canned or something else happens) as well as keeping money that you don’t want to risk in the market because you will need it relatively soon (a down payment or the money you’ll use to buy an engagement ring, which is what I did).
Just as an example, last year I made $540 and this year I’m up to $490. How great is that? All for just keeping my money with a safe, secure bank.
(to check out exactly how much money ING can make for you, use their handy calculator. It lets you enter how much money you’re putting in per month to see how much interest they’ll pay you)
The other great thing is that the easy interface makes it really easy to navigate and set up automatic transfers from your regular bank account.
When I first opened my account three years ago, I was nervous about putting money into an “Internet Bank,” but after reading about ING online and how easy and convenient it is (let alone how financially responsible it is), I signed up through a referral and had an extra $25 to grow.
What are you waiting for? E-mail me today to get your bonus.
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