ING Direct Orange Savings Account Posted Thursday, September 22, 2005 9/22/2005 04:41:00 PM

I recently signed up for an ING Orange Savings Account savings account, made an easy $25, and am now receiving 3.30% 3.40% interest on my savings. In case you don’t know about the ING Orange Savings let me explain. ING is a regular FDIC-insured federally chartered savings bank but there are no branches. Your account gets linked to up to your regular checking account(s) allowing you electronically transfer money in and out via online banking just like you would with any other bank account that has online banking. Because ING does not have any branches their interest rate is much higher then traditional banks. The interest rate is currently 3.30% 3.40% at ING vs. 0.5% at BofA and CitiBank and 0.25%-1.01% at Wells Fargo. If you want read more opinions you can check out the ING Epinions page.

If you want to sign up for an account you can do it directly through the ING direct website but to earn the free $25 you need to be referred. If you would like a referral from me please contact me your first name, last name, and email address.

[Edit: For the sake of full disclosure I should point out that I will also receive $10 if you sign-up through me. However, that in no way influenced my opinion of ING. It may have encouraged me to post it rather then just spreading the word verbally but my opinion is uninfluenced.]

[Edit #2: The ING Orange Savings Account savings account is now at 3.40% as of 9/22/05]