ING reward 6% rate

US4

Just noticed this 3yr anniversary offer.


any new deposits 15 May -> 1st Aug will earn 6% vs the 4.5% on current balances.

mary

i don't see this on their website, where are you looking?

lipidicman

Don't they sell themselves on 'One great rate for EVERYONE'

I smell a rat

(The rat must be under my floor! See below for apology)

US4

the offer appears after logging in, perhaps its only for customers who have been with them for 3yrs.

Creditcardkid

Just logged on and seen the same. Basically anything you put in between today and the 1st August gets 6.00% paid on the 2nd of August. Anything you put in before today still gets 4.5% however. Not bad if you have a big lump sum to put away for a bit

thanks for posting that mate :money:

Creditcardkid

BTW - it is for all customers. The 3 years relates to how long the bank has been runnin in the UK I believe.

Thanks

Katgoddess

When it says for existing accounts does it mean the actual account or the individual pots? Because I want to open a new pot and transfer some money into it. But the terms and conditions aren't very clear.

Milarky

Creditcardkid wrote:

Just logged on and seen the same. Basically anything you put in between today and the 1st August gets 6.00% paid on the 2nd of August. Anything you put in before today still gets 4.5% however. Not bad if you have a big lump sum to put away for a bit

thanks for posting that mate :money:

The bonus rate applies to the maintained balance above your account opening balance between those dates. (I know what you mean is quote correct but differently expressed). It only applied to anyone who (had the good sense!) to open and keep an ING account with a smallish balance after their rates became less attractive

Creditcardkid

I have about 3p in my one at the moment. Was going to cancel it but did not. I want to put £20k in there so with the new rules would that get me 6% then? I think it would but don't want to get the wrong end of the stick!

lipidicman

lipidicman wrote:

Don't they sell themselves on 'One great rate for EVERYONE'

I smell a rat

I apologise! I'm looking into it!

lipidicman

Milarky wrote:

The bonus rate applies to the maintained balance above your account opening balance between those dates. (I know what you mean is quote correct but differently expressed). It only applied to anyone who (had the good sense!) to open and keep an ING account with a smallish balance after their rates became less attractive

So if you have a low balance and you bung in a lump sum you get six percent on that lump sum for what, two and a half months. Then in August it is back to 4.5%? I was hoping for six percent on that lump sum for at least a year