ING Direct savings accounts rates cut

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ING Direct savings accounts rates cut

Thu 15th Dec 2005

Rates for ING Direct savings accounts will go down from 4.75 to 4.5 per cent after Christmas.

The Dutch-owned bank ING announced its rate cut this Monday, saying that it would take effect from January 1st.

Unfavourable conditions were blamed for the cut, which is the second reduction in the last four months.

The bank has attracted one million savers since it came to the UK in 2003 and has advertised its high interest rates widely.

ING Direct savings accounts are managed online and by post or phone and has been able to keep market-leading rates until recently.

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