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GMAC Bank vs. ING Direct
By JLP | June 13, 2007
I am not an affiliate with any of the companies listed below.
About a year ago I opened a savings account with GMAC Bank. So far the experience has been great. In fact, I can think of anything to complain about, which is good for me because I’m pretty particular. Anyway, I was making the rounds tonight checking out the other online banks to see what interest rates they are paying on their savings accounts. The first place I checked was ING Direct. Their Orange Savings Account is currently paying 4.5% APY. Not too bad, but GMAC Bank’s savings account is currently paying 5.3% APY for accounts with $500 or more.
I wonder how long it will be before people start switching accounts?
Oh, and in case you were wondering, here’s what a few other online banks are paying on savings accounts:
|
Bank |
APY |
|
5.30% |
|
|
5.05% |
|
|
5.05% |
|
|
4.75% |
|
|
4.50% |
Topics: Banking |


