Update: Capital One 360 has purchased ING Direct.
ING Direct has always been a fan favorite of consumers, and it’s easy to see why. ING Direct interest rates are always in the top 5% nationwide, and from time to time, this bank is willing to attract new business by offering a cash bonus. Earlier this week, ING Direct announced a $50 sign up bonus for their Electric Orange Checking Account. Earning the bonus is easy and earning a top notch interest rate on the money you save with ING Direct is even easier.
The $50 bonus can be earned, following three easy steps set out by ING Direct. They are:
- Apply for an ING Direct Electric Orange Checking Account
- Open your Electric Orange Account and make a total of 3card purchases or Person2Person payments (or any combo of the two) within 45 days of account opening.
- Your $50 bonus will automatically be deposited into your account on day 50.
Electric Orange is classified as a high yield online checking account and depending on how much money you maintain in your account, you’ll earn a certain interest rate. As of 4/26/2012, the interest rates are as follows:
- 0.20% APY – Balances under $50,000
- 0.85% APY – Balances between $50,000 and $99,999
- 0.90% APY – Balances over $100,000
When you compare the above interest rates to the interest rates offered elsewhere, ING always ranks at the top and are usually the best. Also important to note is that ING Direct charges no fees for maintenance and offers more than 35,000 ATM’s worldwide, free of charge. Electric Orange is also happy to provide a few more perks, outlined in the screen-shot below.