Buckscoop > Deals > Everything Else > ING Direct: 180 day term deposit at 8.00% p.a. + other competitive rates

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ING Direct: 180 day term deposit at 8.00% p.a. + other competitive rates

Posted By: leny, posted 2008/03/02 12:23
As at 02/03/2008 (introduced 29/02/2008) the rate for the 180 days ING Direct Term Deposit is 8.00% p.a. The other two very good rates are the 90 day at 7.75% p.a. and the 1 Year at 8.10% p.a.
  • nod2008/03/02 14:46:29
    Thanks Leny
    I think the 90 days at 7.75% is a good option. Short enough to be useful and an ok rate.
    Though with the normal savings accounts at 7.5% you would think they could have done a little better .... :D
    Not that I ask for much
  • trevorf2008/03/02 15:05:54
    Slightly better than Rabo now.
  • leny2008/03/02 17:09:04

    Not that I ask for much

    You don't say. :eek: :rolleyes: :p
  • nod2008/03/02 18:43:44
    You don't say. :eek: :rolleyes: :p

    Banks do make a rather large sum of money each year so I don't think it is too much to ask them to share it around. Especially as they make that money because they have our money in the first place
  • jdstacey2008/03/02 20:32:32
    I'd be reluctant to lock away any money at this time - given the near certainty regarding interest rate rises. Stick it in an at-call account for the time being!
  • ozpete2008/03/03 03:35:40
    Just something else to consider.

    interest is paid at maturity so there is no compounding as with at call accounts

    From their T&C's

    "Payment of interest Calculated on the Closing Date, on the daily closing balances in the account, and credited on the Closing Date"

    Although - Why "daily closing balances" when you cant add to the account after start? and if you need to withdraw in an emergency you have to withdraw all the funds (in T&C's)
  • nod2008/03/03 13:35:57
    Thanks OZpete - that is a very important condition of use for the account to take into consideration

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