ING CD Rates – 2% 1 Year CD Rates
The ING CD Rates, 2% 1 Year CD Rates is higher than the national average which is below 1%. This rate was posted on 12/11/09 and was still effective as of 12/16/09. Opening an account can be done online and no deposit is required to do so. The deposit can be made by a wire transfer from anywhere in America.
Opening an account is all done online by the new account holder. You will immediately receive a customer number and account number.
As with all CD’s from ING, the interest can be paid out monthly or at the term of the investment. The interest is accrued on a daily basis and compounded on a monthly basis. The penalty for early withdrawal from this CD is 3 months of interest. This is regardless of when you withdraw the funds before the CD matures. A statement will be sent out on a quarterly basis showing the interest that has been accrued for the past three months.
35 days prior to the maturing of your CD, ING will send out a notice advising of this event. Enclosed within the notice is information on how you can transfer your deposit out of the CD into another account. Additionally, there will be information on your renewal rate. If this rate is unchanged, the rate will have been the same as the original CD rate. If the account holder does not act within 10 days of this maturity date, the CD will be reinvested in the same term CD at the current rate for that term.
To open an account, online banking is available or this can be done by mail.
The ING CD Rates, 2% 1 Year CD Rates is still better than the average rate for a 1 year CD. If a 1 year CD is what you are looking for, this could be the one for you.
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