ING Direct Savings Account

I have had an ING savings account for a couple of years.I recently opened up two more joint savings accounts for me and each of my sons.This savings bank is a high yield online savings bank.They do offer CDs and mortgage products, but I have never used those.The savings account is linked to my brick and mortar checking account.Transferring money between the two is free and simple.It takes about three business days for the money to transfer either way.

The ING Direct savings account has no fees.There are also no minimum balance requirements to keep your money there.No matter how much money you have in your savings account, you get the same high interest rate.The interest rate at ING Direct is about three to four percent higher than that offered at my usual bank.