ING Electric Orange Drops to 0.5% APY

12.18.08 | Online Savings Accounts | 0 Comments | by junger

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ING Direct has dropped the rate of its Electric Orange checking account to a 0.5% APY for balances of less than $50,000.

For accounts with more money, the rate is a bit higher. Here's a full look:

  • $0-49,999.99 earns a 0.50% APY
  • $50,000.00-$99,999.99 earns a 2.85% APY
  • $100,000.00 or more earns a 3.05% APY

I use an Electric Orange account as a secondary checking account, and I've never had a problem with it. It doesn't make sense to use it as a savings account — that's what the Orange savings account is for.

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