ING drops its rates accross the board!

ING Direct dropped its rates to keep in line with the fed rate cuts.

The new rates are as follows:

Electric Orange Balance / Interest Rate / Annual Percentage Yield
$0-$49,999.99 3.45% 3.50%
$50,000.00-$99,999.99 4.79% 4.90%
$100,000.00 or more 4.89% 5.00%

Savings Balance / Interest Rate / Annual Percentage Yield
All deposits 4.218% 4.30%

CD Rates
6 Month 4.90%
9 Month 4.90%
12 Month 4.90%
18 Month 4.75%
24 Month 4.75%
30 Month 4.75%
36 Month 4.75%
48 Month 4.75%
60 Month 4.75%

I’ll still use ING’s electric orange checking regardless of the rate drop as my regular student checking at Wachovia pays 0% interest anyway.