ING Drops Orange Savings Account Rate to 4.30% APY; Checking and Business Also Fall

09.19.07 | Online Savings Accounts | 1 Comment | by junger

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One day after the Fed dropped rates a half a point, ING has lowered the APY on their Orange Savings Account to 4.30% and also dropped the APY on the Electric Orange checking account.

orange430.jpg

Here are the new rates for the Electric Orange account:

* $0-49,999.99 earns a 3.50% APY
* $50,000.00-$99,999.99 earns a 4.90% APY
* $100,000.00 or more earns a 5.00% APY
* Rates are variable and effective 9/19/07

The business online savings account has also seen a rate drop, falling from 5.00% APY to 4.75%.

ING has been lagging behind the leaders in high-yield accounts for some time now, so it's not totally surprising that the rates have dropped.

We'll be keeping an eye out for other rate changes in the near future — they're gonna happen.

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