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ING Direct rates drop again!!! February 3

Filed under Investment by Uncle M | 2 comments

ING Direct, one of the high yield saving accounts have dropped their interest rates a second time in 10 days to 3.40% APY. This is down from 4.20% APY in November, 2007. The two interest rate drops seem to be in proportion with the Federal rate cut which means a lot of other high yield savings accounts will be following suit or have already reduced their interest rates.

Update: 3/19/08 rate drops again to 3.00% (Did anyone say we are near a recession?)