ING Direct Orange CDs might be a great fit for you if you want to invest money but don't want it to be inaccessible during an emergency.
Investing your business' capital funds can be a tricky proposition. You don't want to be earning nothing by leaving the money in your business checking account, or next-to-nothing by putting your money in your bank's version of a savings account.
ING CDs allow you to put your short- to medium-range capital away to earn interest safely. An ING CD can be easily linked to your pre-existing ING savings products, such as a business savings account. Orange CD rates are higher than many other bank-based CDs, and thus allow your money to grow even more quickly. Plus, if something happens and you need the funds that are in your ING CD, you can cash the CD out and only pay a minimum penalty fee.
When looking to put your future capital in an ING Certificate of Deposit, among the key points to consider are:
1. The length of time until the ING Direct CD matures.
2. The Annual Percentage Yield (APY) of the ING Direct Orange CD.
3. The risk of needing to withdraw your funds from your ING Direct CDs early.
Action Steps
The best contacts and resources to help you get it done
Match the maturity date for your ING Orange CD with your projected need for the funds
You likely know when you're going to need each and every dime of your capital funds. Whether you're saving for future improvements or an upcoming expansion, match the maturity date on the ING CDs you purchase with these needs. By maximizing your money's time in ING Orange CDs, you of course maximize your investment income.
I recommend: ING's Business CDs page lists the available terms for business Orange CDs.
Get the best possible ING Orange CD rates for your capital funds
When deciding on which ING CDs to choose, it's important to ensure that you're getting the maximum possible APY for your funds. While ING Orange CD rates are some of the highest available as well as most convenient, it's always important to research other options to ensure that you are getting the highest return on your investment.
I recommend: Bankrate.com offers a listing of some of the most popular CDs available on the open market so that you can compare your options.
Don't overreach the maturity dates for your ING Direct Orange CDs and cost yourself early withdrawal
It's easy to want to get a higher APY on your capital funds by investing in an ING CD with a far-reaching maturity date. It's important, however, to make sure you're not stretching yourself too thin in doing so. You will lose several months' interest in penalties if you have to withdrawal before your CD matures.
I recommend: Be sure to read and understand ING's
rules on early withdrawals before opening an ING Direct Orange CD.
Tips & Tactics
Helpful advice for making the most of this Guide
- Utilize a CD ladder to maximize your returns on your ING Direct Orange CDs. By doing so, you will always have money available to you, yet you will be earning more interest than you would have otherwise.
The official source of ING Direct Orange CDs is the ING Direct Orange CD's page at Business.com
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