Some ING questions

Brettster · #1 10-29-2006, 05:15 PM

I'm considering putting 10k into an ING account. I'm not sure if its even the best online savings account to use, the rate is 4.40%. Also I saw they have mutual funds. I dont know if I should do that instead, I'm probably going to need the money in about 11 months for a down payment on a home so that might not even be an option.

punkass · #2 10-29-2006, 06:26 PM

11 months? no risky investments for you. Especially for a down payment for a house.

Emigrantdirect - 5.05%

If you definitely know you won't need it for a year, you can browse around for a 1 year CD, but it'll be marginally better than 5.05%.

Brettster · #3 10-29-2006, 06:42 PM

yea I looked at emigrant, is there service just as good as ING?

punkass · #4 10-29-2006, 06:51 PM

[ QUOTE ]
yea I looked at emigrant, is there service just as good as ING?

[/ QUOTE ]

I like ING's interface. I think it's more user friendly.

But Emigrants site is easy to use as well. Setting up an account is easy. Transfers, or setting up recurring transfers, is easy. No complaints from me. I had to call their CS once when they switched to a more secure login screen and my login didn't work. They quickly gave me half of the password, and emailed the other half. Easy.

I recommend them.

Brettster · #5 10-29-2006, 07:11 PM

Thanks I just signed up.

gull · #6 10-29-2006, 07:16 PM

E-loan offers 5.5%. HSBC and Emigrant offer 5.05%. Citi and WAMU offer 5%. ING offers 4.4%.

prohornblower · #7 10-31-2006, 10:51 PM

Brett, ING has a $25 bonus for referral sign-up. $25 + 4.4% for 11 months won't outperform 5.05%, but it is something to consider. Especially if you end up pulling it all out before the break-even point (somewhere around 9-10 months I think).

If you want an ING referral, PM me. I get $10, you get $25 (min. $250 deposit).

A friend of mine has an account with both ING and Emigrant. ING he keeps his minimum balance and is for his referrals and Emigrant is for performance.

punkass · #8 10-31-2006, 11:12 PM

Damn, should have asked him for the ING referral first.

I guess going just depositing $250 for the $25 bonus into ING is the best right now. I think you need to have it there for only 30 days (correct me if wrong). Then after that, you can ship your $275 and change to emigrant, with the rest of your monies.

prohornblower · #9 11-01-2006, 01:18 AM

[ QUOTE ]
Damn, should have asked him for the ING referral first.

I guess going just depositing $250 for the $25 bonus into ING is the best right now. I think you need to have it there for only 30 days (correct me if wrong). Then after that, you can ship your $275 and change to emigrant, with the rest of your monies.

[/ QUOTE ]

That is correct. 30 days.

10% return in 1 month. Pretty good deal.

34TheTruth34 · #10 11-02-2006, 01:24 PM

Just wanted to bump this thread to say that I opened my e-loan savings today. It was very easy, as I hooked it up to my ING account. So for anyone who was wondering, it's just one simple step with no other transferring of funds involved. $5k minimum, FDIC insured, over 1% higher than ING.