ING Accounts - Page 2

[Jadzia]

Originally Posted by Logan's Mom

I've had an account with Ford Credit called Ford Interest advantage. You have to keep 1k in and the rate is 5.4 for under 15k and it goes up the more you have in it.

Be very careful with that. I used to have one for many years but I became very nervous about it. The funds are not FDIC insured and are backed by Ford Motor Corporation, which is going through hard times. If Ford ever goes under, you could lose all your money.

They do pay a slightly higher interest rate, but you are assuming a fair amount of risk. It is basically a bond from one company, and would be as risky as having all your money tied into one stock. I would strongly advise against keeping your emergency funds there.

[umbrella]

I've been pleased with my ING account. My 7 year old has one too.