Friday, November 09, 2007

Orange Savings Account Is Far From The Best APY

I've seen a rapid increase in the amount of TV advertisements that ING Direct has been sponsoring. They pitch their Orange Savings Account, which has an APY of 4.20% (as of this writing).

Now 4.2% is a great APY considering what your corner bank typically offers. But it's far from the best.

Bankrate.com has a nice list of high-yield savings and money market accounts, and they show over 40 offerings that are better than ING's, many of those with no min balance, no fees, and low or no minimum to open.

Why not spend some of that TV budget returning more interest to your account holders, ING? You've got about 4 dozen horses ahead of you right now.

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