Re: ING direct savings account

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Posted by MonkeyLuv

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Posted by palebride

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Posted by wc0143

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Posted by MonkeyLuv

I'm just trying to find a better savings plan to allow for a wedding AND a house!

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And more dogs & babies of course!!

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Don't forget all of the cute shoes.....

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Indeed!


And Janice, well perhaps Mr Boots will learn to control his criminal impulses!

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when DH wanted all of our money in ING, that is what I told him, be prepared to hang with the boys for 3-4 days

Re: ING direct savings account

ING is awesome. currently the interest rate is up to 3%. (i just transfered money last night!) the smart thing to do is to keep some money in either your checking or other savings account in case you need emergency money. i've had my ING account opened for only a few months and i've already tripled the interest that i made last year in my old savings account. you can't lose with ING!!

Re: ING direct savings account

Sooo is this where you would recommend keeping all your savings?

Re: ING direct savings account

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Posted by tp329

I DO. The most you can make is 250 bucks.

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OK, so banking is not my forte...,

If I open an acct with $ 10,000 and 3% interest accrues monthly (if I have this right), I would make $300 a month in interest, but I would only get $250 b/c that is the max?

Do I have this right or am I totally off base here?

Re: ING direct savings account

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Posted by LisaW

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Posted by tp329

I DO. The most you can make is 250 bucks.

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OK, so banking is not my forte...,

If I open an acct with $ 10,000 and 3% interest accrues monthly (if I have this right), I would make $300 a month in interest, but I would only get $250 b/c that is the max?

Do I have this right or am I totally off base here?

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No, what I meant is if you open an account, and say I refer you, ING because of that, will deposit $25 into your account. And because I referred you, I get $10 in my account. So...if you refer people after your account is open, you get $10 in your account for each person who opens an account, however, you can only refer up to 25 people...getting you a total of $250 into your account, just for referring people. Did I make any sense?

Re: ING direct savings account

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Posted by LisaW

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Posted by tp329

I DO. The most you can make is 250 bucks.

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OK, so banking is not my forte...,

If I open an acct with $ 10,000 and 3% interest accrues monthly (if I have this right), I would make $300 a month in interest, but I would only get $250 b/c that is the max?

Do I have this right or am I totally off base here?

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it is much less than 300 a month if you put in 10000

Re: ING direct savings account

Duh, I just realized that it must be compounded yearly but paid monthly so its like $21 a month, right?

Re: ING direct savings account

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Posted by LisaW

Duh, I just realized that it must be compounded yearly but paid monthly so its like $21 a month, right?

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exactly I should have answered monkeyluv's question more directly, sorry

Re: ING direct savings account

LOL, no problem, I knew it sounded too good to be true!!!

Re: ING direct savings account

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Posted by tp329

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Posted by LisaW

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Posted by tp329

I DO. The most you can make is 250 bucks.

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OK, so banking is not my forte...,

If I open an acct with $ 10,000 and 3% interest accrues monthly (if I have this right), I would make $300 a month in interest, but I would only get $250 b/c that is the max?

Do I have this right or am I totally off base here?

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No, what I meant is if you open an account, and say I refer you, ING because of that, will deposit $25 into your account. And because I referred you, I get $10 in my account. So...if you refer people after your account is open, you get $10 in your account for each person who opens an account, however, you can only refer up to 25 people...getting you a total of $250 into your account, just for referring people. Did I make any sense?

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What I was talking about above has nothing to do with the interest you receive on you money...to avoid any confusion

Re: ING direct savings account

I have www.emigrant-direct.com and they give you 3.25% on your savings account. It works the same way, but the rate is a little higher. There are also Emigrant branches in NYC, so it's a real bank. I used to have a account there a long time ago.

Re: ING direct savings account

I just opened one for Juliette and we deposit $70 in a week. SHe will have over $36500 by the time she's 10 plus interest!

Re: ING direct savings account

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Posted by nov04LIbride

Sooo is this where you would recommend keeping all your savings?

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i keep the majority of my savings in the ING account. i keep a very small amount in the savings account where my checking account is.

Re: ING direct savings account

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Posted by LisaW

Duh, I just realized that it must be compounded yearly but paid monthly so its like $21 a month, right?

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yes. also it's not a set interest rate. it does fluctuate.