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ING Direct now offers many high yield savings accounts. This post will examine three of the best savings accounts ING has to offer and compare them to what else is available.

Choices in Deposit Accounts

There are three choices in online savings accounts from ING: regular savings, kid savings, and business savings. This flexibility allows you to select an account that is right for your situation without overwhelming you.

Orange Savings Account

With this online savings account there are no monthly fees and no minimum requirements. You can apply for high interest savings accounts using ING’s simple online forms. The information you need is fairly basic. Once you have set up your ING orange savings account, all transfers from your existing checking account to your new savings account are free. The savings accounts at ING Direct are FDIC insured which is a definite must. The interest earned on this account is variable and is currently quoted at 1.10% APY. This is one of the best savings account rates being offered right now especially considering that there are no minimum requirements.

Children’s Savings Account

The kid’s savings account is essentially the same as the regular savings account as far as rates and fees go. The difference here is that while kids can check their balance anytime and have their own sign in they cannot transfer money without an adult signing in and approving it. This account is also FDIC insured.  ING also has a great website, www.orangekids.com, where kids can learn about earning, saving, and investing money in a fun way.

Business Savings

If you are in the market for a business savings account ING Direct offers one with no fees and no service charges.   The APY rate is slightly lower than the regular savings account at .95% APY. Be aware that with the business account only three people are permitted access.

Summary

All of ING Direct accounts offer competitive rates and easy application. ING Directs motto is “Save your money” and it appears that their deposit accounts are a competitive way to do that. They do have representative available to help you and answer questions over the phone or through email, but no chat options online. There are three choices in online savings accounts from ING: regular savings, kid savings, and business savings.  With the regular savings there are no monthly fees and no minimum requirements and all transfers from your existing checking account to your new savings account are free. The kids savings account is essentially the same as the regular savings account as far as rates and fees go. The difference here is that while kids can check their balance anytime and have their own sign in they cannot transfer money without an adult signing in and approving it. If you are in the market for a business savings account ING Direct offers one with no fees and no service charges. Be aware that with the business account only three people are permitted access.

Be sure to read ING Direct Bank Review

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