ING Direct hopes to entice new savers with an introductory bonus on its instant access savings account.
For twelve months the account will pay an introductory bonus of 2.17% which added to the 2.72% that existing customers get, takes the overall interest rate to a respectable 4.89% (5.00% AER). You can open the account with as little as £1, up to £1m, and internet and telephone options are also available.
The headline interest rate earns this account four out of five Moneyfacts stars but in many ways this is a Cinderella account. On the stroke of midnight of the anniversary of opening the account the bonus rate disappears and in the morning you revert to the everyday rate of 2.72% If you are attracted to this account, just be sure to make a diary note to review your savings one year after opening.
Disclaimer: Information is correct as of the date of publication (shown at the top of this article). Any products featured may be withdrawn by their provider or changed at any time.
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