ING Direct Offers 4% APY 12-Month CD
Less than two weeks after their last rate increase, ING Direct has updated and increased their CD rates once again, with their 12-month Certificate of Deposit going from 3.70% APY to 4.00% APY:
| Term | Rate | Effective Date |
| 6 Month | 3.75% | 08/26/08 |
| 9 Month | 3.75% | 08/26/08 |
| 12 Month | 4.00% | 08/26/08 |
| 18 Month | 4.00% | 08/26/08 |
| 24 Month | 4.00% | 08/26/08 |
| 30 Month | 4.00% | 08/26/08 |
| 36 Month | 4.00% | 08/26/08 |
| 48 Month | 4.00% | 08/26/08 |
| 60 Month | 4.25% | 08/26/08 |
[...] Several of the banks have increased their CD yields but for the month, every bank stood pat on their high yield savings account interest rates. The Fed kept rates constant, which gave banks little incentive to increase their rates. However, on the other hand, liquidity pressures have been forcing some banks to increase their rates. Just recently, ING Direct increased their CD rates twice in August and ING Direct’s 12-month CD now yields a healthy 4.00% APY. [...]
» September 2008 High Yield Savings Account Rates Roundup on Daily Money Hack
2 Sep 08 at 7:50 am