Wednesday, November 29, 2006

ING Increases APY

I logged on to my ING savings account this morning and noted happily that the APY has increased from 4.4% to 4.5%. I'm pretty settled at ING--I haven't moved, and wouldn't, for a higher APY at Emigrant or Citi or any of the others--but I'll still take a rate increase, and happily, if they're handing them out. It's nice also that ING is increasing its rate just when other online savings accounts are decreasing their rates. To me, it signals (perhaps irrationally) that ING is a good long-term prospect.


Anonymous said...

Sorry but ING is not committed to rate updates, their rates are consistently 1% lower than all the other banks. Even thought they might be lowering rates, they are lowering them in the 5% range, still much higher than ING>

English Major said...

I know ING's isn't the highest rate available. But with as little money as I have in savings (in the grand scheme of things--not that it doesn't feel like a bunch to me) a half a percentage point isn't worth the switch itself and a gawkier user experience once I've switched. I do, however, like extra money without being inconvenienced, even when it's not much.