Higher savings rate with ING

February 6th, 2006 Living Off Dividends Posted in Uncategorized | 3 Comments »

ING just announced 4.75% interest on regular savings on all new deposits and accounts until April 15th. After that it drops to 3.75%, unless of course the fed raises the interest rates and then it’ll be higher.

While a 1% increase doesn’t sound like a lot, it does represent a 27% increment over the previous interest rate. The lower the interest rate, the large % increase it represents. And the lower interest you get on your money, the more you should look to make it work harder.

Of course there are a lot of ways to make more than a measley 4.75% on your money. 2nd trust deeds usually yield 10-15%. Developers and Builders often borrow money for their projects that yield 12-40%. Of course, higher the yield, higher risk.

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