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ING raises the remuneration of its Orange Account to 1.25% for its payroll clients

Date: March 4, 2024 Time: 01:35:38

The war for liabilities is not waged in deposit, but in the field of remunerated accounts. Fearing that it will be left behind, ING has just announced that it is raising the remuneration of the Orange Account from 1% to 1.25% APR for customers with a Payroll Account and from 0.70% to 0.85% APR for those who do not yet have one. The rise, which will be effective from June 1.

So far this year, ING has warned the remuneration of the Orange Account three times once the European Central Bank (ECB) continues to raise interest rates. At the May meeting, he placed the price of money at 3.75%. The movements of ING, the trading volume of the ORANGE Account has increased by 178% so far in 2023, compared to the same period last year. Additionally, ING has also raised the remuneration of its 12- and 18-month deposits from 1.05% to 1.30% APR and from 1.25% to 1.50% APR, respectively.

Despite these movements, the profitability offered by ING lags behind that of other banking entities. For example, MyInvestor remunerates with 2% of your remunerated account, after the maximum balance to be remunerated increases up to 50,000 euros. Banco Sabadell is another of the entities that has increased the remuneration of its ‘online’ remunerated account up to 2.50%. Renault Bank, in exchange, comes to offer 2.27% for its remunerated account.

As for deposits, the best remunerations for terms of twelve months and 18 months are already above 3%, although the best offers come from digital banking and neobanks. Thus, Wizink already pays 3.3% for its deposit one year, while EBN Banco offers a remuneration of 2.90% and Openbank places it at 2.75% if, in addition, income is domiciled.

Within foreign banking, the best offers that can be contracted come from foreign banks. The Facto Account offers a remuneration of 2.55% per year.

* This website provides news content gathered from various internet sources. It is crucial to understand that we are not responsible for the accuracy, completeness, or reliability of the information presented Read More

Puck Henry
Puck Henry
Puck Henry is an editor for ePrimefeed covering all types of news.

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