ING Direct offers fixed rate savings including a 6 and 3 month fixed rate
bond, cash ISA, growth saver, bonus saver and the ING Direct Savings Account as well as mortgages including a 2 year tracker
mortgage and home insurance.
Group’s full-year results improved compared with 2010. The full-year 2011 net result was EUR 5,766 million compared
with a net result of EUR 2,810 million in 2010. The 2011 net result includes EUR 1,866 million gains on divestments, of which
EUR 995 million was attributable to the sale of their Latin American insurance, pension and investment management business,
EUR 347 million to the sale of ING Car Lease, and EUR 466 million to the sale of Real Estate Investment Management.
The underlying result before tax of ING Direct declined 31.1% to EUR 999 million compared to EUR 1,450 million in 2010.
The decrease was due to EUR 326 million higher impairments on debt securities (including EUR 346 million of impairments on
Greek government bonds) and EUR 181 million of losses from the selective sale of mainly unsecured and ABS exposures in the
investment portfolio. ING Direct offers a range of easy-to-understand financial products – savings, mortgages, retail
investment products, payment accounts and consumer lending products – primarily through direct channels. Its business
model is based on low-cost, simplicity, transparency and offering a superior customer service. It has leading market positions
in most markets in which it operates – Canada, Spain, Australia, France, Italy, Germany, Austria and the UK.
ING Group Financials 2010.
Group’s worldwide net result for the full-year 2010 was EUR 3,220 million compared to a net loss in 2009 of EUR 935
ING Direct UK continued to improve the savings account opening process in 2010. The process was redesigned and reduced from
seven to only five steps in 2009, and in 2010 customers were able to credit their account electronically using their debit
card, thereby reducing the amount of time needed to activate the account. ING Direct offers direct banking services in Canada,
Spain, Australia, France, the US, Italy, Germany, the UK and Austria.
ING DIRECT SAVINGS ACCOUNT (rate correct @May 2011)
You might well have seen this account advertised on television and it is currently one of the highest paying instant
access savings accounts available and even pays a higher rate of interest than many fixed rate bonds. With many instant access
savings accounts paying as little as 0.10% to savers to get an internet operated account paying 3.15% AER is good news for
Key Features are
With the ING Direct Savings Account customers can enjoy a guaranteed rate of 3.00% AER
for 12 months from account opening. Interest paid monthly.
After 12 months the rate will revert to the ING Direct Savings Account variable rate, currently 0.50% AER (after 12
months look to switch in too whatever internet instant access savings accounts are paying the most)
for withdrawing your money
Minimum amount to open an ING Direct Savings Account £1
Open an account online in
ING Direct UK was established in May 2003 and is part of ING Group N.V which is
a Dutch financial institution. ING's worldwide headquarters is in Amsterdam with the UK operations neing based at
ING Direct subscribes to the UK Banking
treasury transferred the deposit business of Kaupthing Singer and Friedlander to ING direct which was approximately 160,000
Dutch government injected £7 billion into ING in a similar move to what the UK government has done to British banks.
ING announces 7,000 job cuts worldwide.
Savings with ING Direct are not covered under the UK
financial services compensation scheme but under the Dutch scheme. Which means ING Direct's customers are covered up
to a limit of €100,000 (about £77,900) through the Dutch not UK compensation scheme.