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ING Interest to the Emergency Fund

December 1st, 2012 at 11:44 pm

ING added the interest today. It's a whopping $1.47. Their interest rate is now .75% APY. I so miss the days of 4% interest. I am not liking some of the minor changes they have made to the site, either. It makes it slightly harder to navigate and the major thing I've always liked about ING is how user friendly it was. I imagine the changes will just continue as it continues to be consumed by the new owners. I just hope they don't lower the interest rates even further to match other banks. If they do, I'll have no reason to keep my money there at all.

Anyway, I added the interest to my EF.

$1205.41 Begginning Balance
____1.47 Interest Added
-----------------
$1206.88 New EF Balance

Posted in , Emergency Fund/Coin Jar | 10 Comments »

10 Responses to “ING Interest to the Emergency Fund”

  1. Petunia 100 Says:
    December 2nd, 2012 at 01:08 am 1354410502
    1354410502

    I've been really happy with both Ally and TIAA Direct. The set up is very similar to ING (at any rate, how ING used to be). TIAA Direct is paying 1.24%. While it is low, it compares favorably to most other savings accounts.

  2. LuckyRobin Says:
    December 2nd, 2012 at 01:17 am 1354411021
    1354411021

    Petunia, is there an amount you have to keep in the bank to get the 1.24% interest rate?

  3. Petunia 100 Says:
    December 2nd, 2012 at 01:24 am 1354411441
    1354411441

    There is a $25 minimum to open the account, but no minimums at all after that.

  4. LuckyRobin Says:
    December 2nd, 2012 at 01:41 am 1354412461
    1354412461

    Okay, that's great. I will look into that one. Thank you.

  5. Homebody Says:
    December 2nd, 2012 at 01:41 am 1354412511
    1354412511

    I am not thrilled with ING either at this point being bought or merging with Capital One. We have a checking account at a credit union that pays 2 percent up to $25,000 so I use that as savings. Have to pay at least one bill electronically and use your debit card 10 times but that is not a problem.

  6. LuckyRobin Says:
    December 2nd, 2012 at 03:03 am 1354417419
    1354417419

    Oh, phooey, TIAA Direct is not accepting new members right now because they are updating something or other on their website.

  7. LuckyRobin Says:
    December 2nd, 2012 at 03:04 am 1354417480
    1354417480

    Homebody, I wish I had such a good deal. I haven't seen anything like it at our local CUs.

  8. Amber Says:
    December 2nd, 2012 at 05:03 am 1354424585
    1354424585

    Awe yes I remember the days of 4%, hopefully we see better days

  9. Petunia 100 Says:
    December 2nd, 2012 at 05:26 am 1354425979
    1354425979

    Oh phooey. Well, I will stop recommending them until they are accepting new members again.

    I would love a good high yield checking account too, but I have never found one that will work for me. Direct deposit is not an option.

  10. snafu Says:
    December 3rd, 2012 at 08:50 pm 1354567803
    1354567803

    Since interest rate dropped below the rate of inflation savings accounts are negative losing buying power every month. To cope, I've kept $ 1,000. accessible and DCA [dollar cost average] into a conservative, low cost Bond mutual fund. It's been consistently paying 5% but the downside is that I will be taxed on the accrued income. I know if there is any indication that interest rates will increase I must sell as the value of every unit will go down. Mutual Funds take two business days from sell order to the time the money shows up in the linked bank account.

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