ING Interest down to 1%

[jstbcuz]

Just looked at my ING acct and noticed that the interest rate lowered to 1% as of Feb 23, 2011.

 

[RachaelA]

Guess I'm finding a new online savings account. There are banks out there that at least have 1.20%.

 

[Sagginit]

sallie mae is 1.25%. i don't know how i feel about making interest from them as they make interest from me on my students loans. somehow it is different when i have the money elsewhere. will need to investigate options soon if they keep dropping.

 

[cglaura]

Capital One is 1.25% for over $1,000. You also receive a 10% quarterly bonus on your interest if your balance is over $10,000 or if you have a cc w/ them.

Checking is 1.01%, any balance.

No fees, no minimum balance.

http://www.capitalone.com/directbanking/

They received a good review in some CNN report I read. Trying to find it again, if I do I'll post.

They also reimburse atm fees:
For Capital One Interest Online Checking accounts, fees assessed at any ATM within the United States and at some ATMs located outside the United States will be reimbursed within 5 business days, up to $10 per statement period. Once this limit has been reached, all usual and customary fees apply..

 

[JaymeC]

Have you checked in with your local bank/credit union? We earn 2.67% on our checking account. We have to use our debit card 12x/month and have one direct deposit in, but that's not a big deal. They only give interest on amounts up to 25k, but they also refund your ATM fees (so if say Chase charges me $2 to use their ATM, they refund that fee up to $30/month) so it's more than worthwhile for us. If you don't want to go into your savings you can have two checking accounts and link them together and the linked one will qualify your other one for the higher percentage rate (if that makes sense). To qualify for our credit union you have to live, work, or worship in the city of Wilmington, NC and I'm sure others have similar limitations, but it may be worth looking into.

 

[nunzia]

Just looked at my ING acct and noticed that the interest rate lowered to 1% as of Feb 23, 2011.

...well, that's just super....

 

[pyrxtc]

I was just thinking of closing these out last night. Looks like I'll be shopping around for a new place to save.

 

[Ava]

Capital One is 1.25% for over $1,000. You also receive a 10% quarterly bonus on your interest if your balance is over $10,000 or if you have a cc w/ them.

Checking is 1.01%, any balance.

No fees, no minimum balance.

http://www.capitalone.com/directbanking/

They received a good review in some CNN report I read. Trying to find it again, if I do I'll post.

Do you know if you can have separate savings accounts & link them together like you can with ING? That's one thing I like about ING, I can create as many different accounts as I want under my "Customer Number" - right now I have different accounts for regular savings, Vacation, Christmas & a Kid's Account for DD.

I would love to get higher interest though. I opened my ING account years ago because of the high interest rate, and it's just steadily gone down. It's still better than most "traditional" banks, but it's not good any more.

 

[MamaKate]

What was it before?

I have an ING savings, but I don't remember what the rate was at . I remember when I opened it years ago it was over 5%, but it keeps going down .

I guess it's time to shop around.

 

[Swimalie]

What was it before?

I have an ING savings, but I don't remember what the rate was at . I remember when I opened it years ago it was over 5%, but it keeps going down .

I guess it's time to shop around.

I believe before this recent rate adjustment it was 1.15%. I'm still sticking it out with them. Sticking banks every time someone else gets a higher rate to me is just a pain.

 

[Eastern]

I usually check this site for current rates http://www.depositaccounts.com/blog/

 

[mtblujeans]

Our local credit union is a little higher, but not much. I like having some savings in an online account because I have more of a tendency to forget about it and leave it alone there.

 

[Theresa9599]

That's really disappointing. When I joined two years ago, my rate was 2.2%. It has done nothing but drop since

 

[mommy2allyandaveri]

Do you know if you can have separate savings accounts & link them together like you can with ING? That's one thing I like about ING, I can create as many different accounts as I want under my "Customer Number" - right now I have different accounts for regular savings, Vacation, Christmas & a Kid's Account for DD.

I would love to get higher interest though. I opened my ING account years ago because of the high interest rate, and it's just steadily gone down. It's still better than most "traditional" banks, but it's not good any more.

This is what I do also, I think I have about 6 different accounts saving for:
dd1
dd2
vacation/xmas
braces
pet
savings
impounds

ok, make that 7.

I love the convenience of ING but would like to have more interest. When I started 7 or 8 years ago the interest was much higher!

 

[jgreco]

I too am looking at leaving ING.

Seriously looking at AMEX whom has an online savings product that is paying 1.30% APY
http://personalsavings.americanexpress.com/?inav=pesonalsavings_home

 

[Swimalie]

That's really disappointing. When I joined two years ago, my rate was 2.2%. It has done nothing but drop since

But all interest rates at all banks have dropped since the Feds have cut them. It's part of what's going on. I remember getting 5% with my checking account about 9 years ago. Now I think I get .15%.

 

[cglaura]

Do you know if you can have separate savings accounts & link them together like you can with ING? That's one thing I like about ING, I can create as many different accounts as I want under my "Customer Number" - right now I have different accounts for regular savings, Vacation, Christmas & a Kid's Account for DD.

I would love to get higher interest though. I opened my ING account years ago because of the high interest rate, and it's just steadily gone down. It's still better than most "traditional" banks, but it's not good any more.

I am not sure how many, I only have two, but I was able to link them. I think you can because there are options once you login to open a new account, then it automatically links it to your main CapOne account.

 

[4orm]

Everything is down right now. If holding money in a traditional savings account you'll likely get very little interest in this market. When rates goes up so will the banks interest (along with mortgage and loan rates).

 

[LoriKutchey]

How do you have all the sub-accounts with one customer # I would love to do that. Everytime I deposit money I just make a notation in the memo box what it is for, vacation, new car.... I just went in my account under the help box and FAQ's and can not see where you can break your account down into sub-accounts.

 

[Friendly Frog]

That American Express online is starting to look pretty good.