Wednesday, August 15, 2007

Too little, too late

ING Direct has been taken a beating of late. And whether it's been in these parts, elsewhere in the blogosphere or even in the mainstream media, they appear to be slowly responding.

According to an e-mail ING sent me recently, they're upping the interest rate on their high-interest savings account to 3.75% from the 3.5% its been stuck at for quite a while, staring September 1st.

My take? A resounding "meh."

This is quite simply too little, too late. They've narrowed the gap between the other players like Achieva, Altamira and PC Financial which have better posted rates and are just as easy to deal with, and ING have given themselves a bit more breathing rom on the big five banks who were starting to gain on them.

But they're still laggards. That Norse pitchman likes to paint the company as some sort of saving innovator, but I'll be keeping my money at PC Financial until ING wakes up and quits with the smoke and mirrors.

Want my money? Then gimme the best rate.

It really is that simple

1 comment:

Yannick said...


I've just come accross ICICI Bank offer for high interest savings account of 4.5% without minimum balance.

Anyone tried this yet and willing to post their impressions so far ? I'm seriously looking into it.