ING Direct has raised the rates on its 6, 12, and 18 month CDs. They are now moderately competitive although still not at the top of the rate tables.
The 6 month CD yields 3.75% APY while the 12 month CD and 18 month CD both yield 4% APY.
All CDs have a minimum balance of $1 to open, the lowest minimum balance of any of the banks covered on the BestCashCow rate tables.
ING Direct was one of the earlier virtual banks and from 2001 to 2004 was a rate leader. Over the last four years their rates have been less competitive although they have continued to receive high marks for ease-of-opening an account and customer service.
CDs can be opened online and automatically linked to a checking account so that money can be transferred via ACH.
ING Direct has a 4-start Bauer rating, which ranks it as being in good financial condition.
Related Articles:
October 19 CD Rate Update - Some Banks Increasing Rates by BestCash Admin - Oct 19, 2007
Corus Bank Raises Rate on 6 Month and 12 Month CDs to 4.25% APY and 4.75% APY by BankMan - Aug 26, 2008
Washington Mutual 1 Year CD 4.50% APY, 8 Month 4.25% APY by BankMan - Aug 13, 2008
Everbank Top 3 Month and 6 Month CD Rates at 4.02% APY and 4.23% APY by BankMan - Sep 27, 2008
iGObanking.com Offering 9 Month CD at 4.15% APY by BankMan - Nov 08, 2008.
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