ING Direct Conto Arancio new offer

ING Direct launched a new special offer for its customers: every new sum deposited before June 30th 2007 will receive a special interest rate of 4.50% (3.285% after taxes) until March 31st 2008.

It’s a quite interesting proposal, since it offers one of the higher interest rates in the market, but there is very little time to make the most of it: just two weeks from now, a time that for many people may be too short to fully understand the offer, make a choice, and most of all have money at disposal to put into Conto Arancio.

Anyhow, in my opinion it is appreciable that ING is making a special offer also for who is already a customer: indeed, ING Direct has been often criticized for paying more attention to potential customer instead of taking care of the acquired ones.

To go into ING Direct Conto Arancio offer, there are a few things that may be useful to point out.

• The special interest rate, in practice, is applied only on the difference between the account balance calculated at the 1st of July and the one caluclated at the 14th of June. On the remaining sum, you receive only the standard rate (by now 3.00% gross).
• Interest are capitalized yearly (not quarterly as other saving accounts do).

In my opinion, this promotion is interesting for who has little money on Conto Arancio, and can add a relevant sum in a short time. Otherwise, the average between the standard rate and the special rate may be anyhow lower than what you can get with other saving accounts.

Uh, I nearly forgot: also for new customer there is a new offer. If you open a new Conto Arancio account, you will receive a 4.50% rate, but only until 31st of December.