"Your Orange savings account rate went up" trumpets the e-mail from ING Direct. And indeed, they did just bump the basic rate from 3.75% to 4.0%. Of course, that fails to take into account the special 4.75% rate that's expiring soon (April 15 if I remember correctly) -- which is no longer mentioned on their site. What's being touted as a 0.25% increase is actually a 0.75% rate decrease on funds deposited during the promotional period. I find this borderline deceptive.
Emigrant's at 4.5% and GMAC's at 4.70%... HSBC's at 4.80% through the end of April, and I expect them to at least match GMAC after that... so there's really no reason for ING to brag about their 4.0%.
Posted by kindall at April 10, 2006 10:42 PM