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ING Direct CD Rollover Bonus

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I recently read that ING Direct was offering an 18-month Certificate of Deposit with a 4.50% APY (courtesy of Bank Deals) so I logged into my account to see how my CDs were configured. I have our emergency fund fully laddered into CDs at ING Direct so I knew that the 18-month CD was going to be outside the range, but I was curious how things were anyway.

Here’s a screenshot of my ING account:
ING Orange CD Rollover Bonus screenshot

You can see the link in the red box above, if you click on the link the page that opens is one that lists all their current CD rates with a 0.10% “bonus.” To take advantage of the bonus, you’ll have to go back to your CD, click Account Maintenance, and change your account maturity option back to renew into a different term.

Lesson of the day? Always turn off automatic renewal so that ING can offer you a 0.10% bonus. :)

Finally, the eagle eyes in the crowd may notice two things from that screenshot:

  1. Only 11 CDs: That’s because you always have one month stored as cash, as the 11th CD matures you open up another one for a year.
  2. Two Orange Savings Accounts, one named Main and one named Firewall: The Firewall account is linked to my PayPal account and the balance is always kept at $1 (I think it’s like $15 right now). The idea of an account firewall is something I instituted a long time ago and that I still take advantage of. I know people who have like half a dozen accounts, all saving for different things.
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