Orange Saving Account Review: Is ING Direct Right for You

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Orange Savings Account Review: Is ING Direct Right for You?

The Orange Savings Account is a high-interest savings account offered by ING Direct, a popular online bank. This account is designed for individuals who want to earn a higher interest rate on their savings while still having easy access to their money.

One of the standout features of the Orange Savings Account is its high interest rate, which is competitive with other high-interest savings accounts on the market. With a rate of 1.25% APY, you can earn more interest on your savings over time.

The account also comes with no monthly fees, making it a great option for those who want to avoid unnecessary charges. Additionally, there are no minimum balance requirements, so you can open the account with any amount of money.

You can manage your account online or through the mobile app, making it easy to keep track of your savings and make deposits or withdrawals as needed.

Core Features and Benefits

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The ING Direct Orange Savings Account is a robust online high yield savings account that offers a range of features to help you manage your finances effectively.

One of the standout features of this account is its competitive interest rate, which is still one of the best in the industry.

The ability to create budgeting sub-accounts is a game-changer for anyone looking to save for specific goals, such as a vacation fund or emergency fund.

You can easily name these sub-accounts, making it simple to remember what each one is for.

Quick transfers to and from your local bank are also a breeze, and remote deposits can be made using a scanner or smartphone.

Automated transfers allow you to set up a plan to fund your savings goal subaccounts with ease.

The ING Direct Orange Savings Account also boasts top-notch security features, consistently ranked among the top financial online banking institutions in security reviews.

Here are some of the key features of the ING Direct Orange Savings Account:

  • Good interest rate
  • Ability to create budgeting sub-accounts
  • Ability to name sub-accounts
  • Quick transfers to and from local bank
  • Easy remote deposits
  • Automated transfers
  • Top-notch security features

ING Direct Savings Account Review

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Credit: pexels.com, Bright orange background with 'EXTRA MONEY' spelled in blue and yellow tiles, illustrating financial concepts.

ING Direct is a pioneer in the online banking industry, established since 2000 with a solid reputation.

Their Orange Savings Account offers competitive returns, with a 0.90% APY that beats the average returns for money market and bank savings accounts.

You can easily link your ING Direct accounts and other accounts for free, making transfers straightforward and hassle-free.

All transfers between your ING Direct accounts and other accounts take around 2 to 3 business days to happen.

ING Direct accounts are FDIC insured, guaranteeing your funds up to $250,000 per account owner.

Here are some of the key features of the Orange Savings Account:

  • Unlimited ATM transactions at ING ATMs
  • 10 Free transactions per month (financial + non financial) at non-ING ATMs
  • 50 PAP Cheque leaves free per annum
  • 2 free cash deposits for up to Rs. 50,000 per month at non home branches
  • 10 Demand Drafts with a value up to Rs. 1,00,000 per annum*
  • Free online fund transfer with NEFT / RTGS / IMPS services

With ING Direct, you can enjoy easy online access to your account, bill payments, and fund transfers, making banking a breeze.

Frequently Asked Questions

What is an orange savings account?

An Orange Savings Account is a type of savings account that earns high interest on deposits. It allows for easy and flexible access to your money, making it a great option for those looking to grow their savings.

Greg Brown

Senior Writer

Greg Brown is a seasoned writer with a keen interest in the world of finance. With a focus on investment strategies, Greg has established himself as a knowledgeable and insightful voice in the industry. Through his writing, Greg aims to provide readers with practical advice and expert analysis on various investment topics.

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