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ING Direct offer extra bonus to new savers

ING Direct offer extra bonus to new savers

Category: Savings

Updated: 06/08/2012
First Published: 23/12/2008

This article was correct at the time of publication. It is now over 6 months old so the content may be out of date.

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 Any products featured may be withdrawn by their provider or changed at any time.