ING Direct Savings Account and CD's Review

My husband and I finally made the switch to internet banking this year.  We researched several online banks and were sold on the ING Direct Orange Savings Account. 

After receiving only pennies in interest from our local bank and credit union, we now receive a 3.0% Annual Percentage Yield (APY) on our savings account.  I have yet to find an actual bank branch to offer that high of a rate on a savings account. 

Even better, using a referral link from a friend who already had an account with ING Direct, my husband and I both received $25 in FREE money as a sign up bonus in each of our individual accounts.  My friend receives $10 for each referral that she makes.

My husband and I use our savings accounts strictly for that - saving.  We have no plans to transfer our money back into our local bank's checking account.  However, it seems to be a very easy process to do so.

ING Direct also offers great rates on their checking accounts and CD's.  The 12-month Orange CD is currently offering a rate of 3.30% APY.  The Electric Orange Checking Account has a beginning APY of 1.74% and goes up to 3.40%.

Signing up for an Orange Savings Account at ING Direct is easy.  I highly recommend it to anyone who is looking for a better interest rate than is being offered at their local bank and credit union.  Also, be sure to find a friend who is already a member so that you can obtain your FREE $25 sign up bonus!