ING Direct Orange Savings

4.35% APY with no minimum balance

More free money. Following up on my post about the excellent VirtualBank eMoney Market account, ING Direct is offering an APY of 4.35% (effective 7/31/06) on its Orange Savings account. This account offers a $25 bonus for opening a new account through a referral. Send an email to vbreferral@gmail.com for a referral. Subsequent referrals aren’t quite as lucrative as VirtualBank’s, with your account being credited only $10 per successful referral.

The ING Direct Orange Savings account has no minimum balance and no fees. Only residents of the United States are eligible to open an account, however.