High Yield Savings Accounts: ING Direct vs. E*Trade
Lunt recommends diversifying at least part of your portfolio into fixed income. Always good advice in my book. My question is which is the best fixed income investment?
I have been a long time ING Direct account holder. I love the service and they have always offered above average interest rates on savings account. Recently, E*Trade has made a move into the market of high interest online savings account that is even higher than ING Direct.
I feel loyal to ING for some reason. I have had this account for years but now I think it’s time to change. It’s a full half percent higher at E*Trade. That’s real money to me.
What am I missing? Should I make the switch? Is there a better deal for savings accounts?
I wouldn’t go chasing the extra .5% just yet. This looks to be a trend and ING has been a front runner from the outset as you note well in your post.
The beauty of our capitalist economy is that this competition will ultimately benefit the consumer (If only this were true with the price of gas) as I suspect ING and others to respond and trump the latest E*trade rates if the market continues its current path.
That is just my two cents…which is not available for deposit in your latest savings account you open!
Several other options include HSBC Online and Emigrant which both give pretty good returns. However, it you want something that is a high yield investment, then you would look more for mutual funds. I believe ING has serveral options available and they make it easy.