ING Direct Winter Save Promotion: 4.75% APY
The ING DIRECT Winter Save Up Sale earns you 4.75% APY on new deposits to your Orange Savings Account.
Here's How It Works:
1. Deposits eligible for the Winter Save Up Sale ---- Only New Funds are eligible for the 4.75% APY. New Funds must:
(1) Be from an external source
(2) Be deposited into an Orange Savings Account
(3) Be deposited any time between January 19, 2006 to April 15, 2006 – the Sale Period
(4) Increase your total balances with ING DIRECT compared to your balances in all deposit accounts at the beginning of the Sale Period
2. 4.75% Interest Calculation
To determine what portion of your Orange Savings Account balance will earn the 4.75% APY, during the Sale Period, they add up all of your new deposits from an external source and then subtract all withdrawals from the account (whether internal or external) from that total. If that amount is greater than zero, it is eligible for the 4.75% APY. If an account is closed during the Sale Period, the 4.75% may not be earned for the entire period that the new funds were on deposit.
3. Accounts eligible for the Winter Save Up Sale
(1) All new Orange Savings Accounts opened by new ING DIRECT Customers
(2) All existing Orange Savings Accounts belonging to currentING DIRECT Customers
4. After the Winter Save Up Sale ends
After April 15, 2006, all the money in your Orange Savings Account will earn the current APY at that time.
Here's How It Works:
1. Deposits eligible for the Winter Save Up Sale ---- Only New Funds are eligible for the 4.75% APY. New Funds must:
(1) Be from an external source
(2) Be deposited into an Orange Savings Account
(3) Be deposited any time between January 19, 2006 to April 15, 2006 – the Sale Period
(4) Increase your total balances with ING DIRECT compared to your balances in all deposit accounts at the beginning of the Sale Period
2. 4.75% Interest Calculation
To determine what portion of your Orange Savings Account balance will earn the 4.75% APY, during the Sale Period, they add up all of your new deposits from an external source and then subtract all withdrawals from the account (whether internal or external) from that total. If that amount is greater than zero, it is eligible for the 4.75% APY. If an account is closed during the Sale Period, the 4.75% may not be earned for the entire period that the new funds were on deposit.
3. Accounts eligible for the Winter Save Up Sale
(1) All new Orange Savings Accounts opened by new ING DIRECT Customers
(2) All existing Orange Savings Accounts belonging to currentING DIRECT Customers
4. After the Winter Save Up Sale ends
After April 15, 2006, all the money in your Orange Savings Account will earn the current APY at that time.
posted by ahappydaisy at
10:08 AM
1 Comments:
As a loyal ING Direct customer, this promotion made me mad. I was keeping most of my savings at ING thinking it wasn't worth chasing rates. But after this Save Up Sale, I withdrew my money and moved it over to a 4.75% 6-mo CD at Virtual Bank. VB just raised their money market account to 4.60% (and this doesn't seem to be a promo) so I'm glad I made the switch. I may be sticking with VB for a while, but as ING taught me, it doesn't pay to be loyal to a bank.
-Ken
By
Banking Guy, at 4:13 PM
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