ING Direct Increases Savings Rate To 4.50%

ING Direct has announced an increase in the interest rate for its Orange Savings Account from 4.40% (APY) to 4.50%(APY). Saw this ad on their website today.

While the rate increase is not that exciting, I am hoping that this rate increase signals an increasing trend. A few years ago, when I opened my ING Direct account, it was offering the highest rate in the market and was aptly called the “leader”. Now, at least 30 banks offer more than what ING has to offer. At this rate it should be aptly called as the “lagger”. I really love ING for how they make things simple, but this is not helping!
Click here to check out what other banks are offering. Click on the “Search By 100 Highest Yields” option.