ING Direct 5.30% Money Market Account (100K min)

[JaYwoO55]

ING direct, the pioneer of high interest online banking, has begun rolling out new
money market accounts that pays 5.3 interest on balances over 100K.

# < $50K = 3.00%
# 50K - 100K = 5.05%
# > 100K = 5.30%

still worthwhile if you have that kind of cash lying around

 

[Mackie2k]

Just signed up for one of these accounts.....It's a very cool deal.

The electronic money sending is so cool. Get the account # and routing number for a friend, and you can send them money directly.....

 

[Bobalude]

if you don't have over 100k to put in, HSBC's internet saving's account (5.05%) is only a quarter point less with no real minimum to keep.

 

[Snipersheep]

With a $500 minimum you can open a GMAC Bank account with 5.25% (it changes often) interest, checks and ATM access.

 

[Mackie2k]

No minimums on the Orange account, and you get ATM access with a Check Debit card.

50-100k gets you 5.05%.....

 

[10Gauge]

What? You don't like E-loan's MM @ 5.5% ?

http://www.eloan.com/savings?context=de...jtkBSM4NP1OKaKiyIurntsqHs&user=&mcode=

 

[psteng19]

FDIC only insures up to $100k right?
So anything after that, you're SOL?

 

[masterxfob]

i think hsbc is the best deal around right now, great rate, easy bank transfers, and atm card if you need it.

 

[chuckywang]

I already have a 5.37% 3-month CD open at Countrywide Bank.

 

[SilentVixen]

GMAC Bank FTW!

 

[intogamer]

Originally posted by: psteng19
FDIC only insures up to $100k right?
So anything after that, you're SOL?

I thought it was 200k

 

[Xcobra]

Originally posted by: intogamer

Originally posted by: psteng19
FDIC only insures up to $100k right?
So anything after that, you're SOL?

I thought it was 200k

nop

 

[stm69]

Originally posted by: chuckywang
I already have a 5.37% 3-month CD open at Countrywide Bank.

CWB's internet savings account is @ 5.25% APY with a $10k minimum. Tiers down below that, but so far been pretty good.

 

[Brainonska511]

Originally posted by: intogamer

Originally posted by: psteng19
FDIC only insures up to $100k right?
So anything after that, you're SOL?

I thought it was 200k

Only if it is a joint account.

 

[bobdelt]

does the fdic insure money market accounts?

 

[osiris3mc]

HAH! If you have 100K to invest and you are only making a 5.30% return, you don't deserve to have the 100K in the first place.

 

[imported_OrSin]

Actually considering real easte and stock markets right now is very bad hit or miss I keep my money in a bank. After the market tanks I will start to reinvest again.

 

[ElFenix]

i like how every FDIC insured savings account on the planet gives much better than social security's 1.5% (soon to drop below that as taxes are increased and benefits reduced)

 

[cubby1223]

Sounds like the tcif back's savings account. They're the bank that has locations in Jewel grocery stores around here. I saw a pamphlet for a 5.x% interest rate on a savings account, and thought it was very good for a bank that has physical locations - but then I saw the $100k minimum balance. It's like, there's no way I'm ever handing over that much money to a bank that locates itself inside grocery stores...

I've got an Emigrant Direct, they're at 5.05% right now.

 

[whistleclient]

Originally posted by: osiris3mc
HAH! If you have 100K to invest and you are only making a 5.30% return, you don't deserve to have the 100K in the first place.

where else do you suggest investing it?

 

[osiris3mc]

Originally posted by: tangent1138

Originally posted by: osiris3mc
HAH! If you have 100K to invest and you are only making a 5.30% return, you don't deserve to have the 100K in the first place.

where else do you suggest investing it?

Well it all depends on your tax situation. If you are making substantial income, such that you are in the highest tax bracket, then this is a terrible idea. You'd probably be taking a 50% cut on your gains counting state and federal taxes. Muni bonds, as one example, would be much smarter (you avoid the federal tax entirely on the gain).

 

[bloodthirsty]

 

[EKKC]

with 100k i rather invest in stocks
and yeah HSBC 5.05 has no minimum, i get giddy every month when the interest gets me another video game or something

 

[dr150]

Originally posted by: osiris3mc
HAH! If you have 100K to invest and you are only making a 5.30% return, you don't deserve to have the 100K in the first place.

Seconded.

You can do so much better with 100k.

On that kind of cash, I can make $1-$2k a day when the market swings my way.

 

[Shyatic]

How bad is the HSBC interface? I have heard horrible things