ING Direct One Year CD Yielding 2%

ING Direct, has raised the rate on its year year Certificate of Deposit rate to 2%. While this is a very paltry rate, compared to rates on one year CDs from one year ago ( which were between 4% and 5%), this seems to be the best one year cd rate for now.

Opening Certificates of Deposit at ING Direct is very easy if you use ACH and link your bank account. In addition to that you could either receive monthly disbursements, or have the money compound for you for one year.

Of the nationally available one year CD rates, Ally Bank and Discover Bank both currently offer 1.85%. However both of these banks have higher account opening minimums. In contrast, INg Direct only requires $1 to open a CD.