ING DIRECT has done it again!
Toronto – February 5, 2004 – ING DIRECT, the Canadian bank famous for revolutionizing the way Canadians save their money, is now revolutionizing RSPs by replacing complexity with simplicity. Among ING DIRECT’s high value RSP investment options are the Investment Savings Account and GICs with the highest interest rate today of any of the big banks, and an impressive selection of mutual funds from some of Canada’s top performing fund families. Needless to say, all of these options come without sales and transaction fees or service charges.
“Before ING DIRECT came along, who would ever have guessed RSPs could be this easy?” said Stacey Grant-Thompson, Senior Vice President, Marketing, ING DIRECT. “Just by using the ING DIRECT Investment Savings Account, you’ve solved the cash component of your RSP…today it’s got the highest rate of any of the big banks and exceeds the return of many money market funds. Our one year GIC is an industry leader with an interest rate that is 99 per cent higher than the average of the big banks. And again, by choosing from one of our top performing third party mutual funds, you’ve just solved the fixed income and equity components of your retirement portfolio. All this with no sales or transaction fees…by phone or online, it just does not get any easier than this.”
ING DIRECT has four RSP options that will suit every need: the Investment Savings Account (ISA), GICs, mutual funds and RSP loans.
The ING DIRECT Investment Savings Account (ISA) offers the greatest flexibility and has no fees or service charges. It currently has an interest rate of 2.50 per cent, that’s comparable to money market funds and GICs. And because the cash in your ING DIRECT RSP ISA is never locked in, you can always move it to a GIC or an ING Direct Funds RSP mutual fund account – whenever it makes sense for you. Customers who set up an Automatic Savings Program can contribute to their RSP ISA throughout the year.
The ING DIRECT RSP GIC offers a guaranteed return on customer’s retirement dollars. Features include: No minimum or maximum deposit requirements, no fees or service charges and interest is calculated daily and paid annually. With the best rates of the major banks, investors can enjoy security, like the five year GIC at 3.8 per cent.
ING Direct Funds Limited has built the most customer-friendly model in the country for selling funds to do-it-yourself investors. ING Direct Funds offers a selection of high quality brand name mutual funds in a choice of expertly designed portfolios. Customers do not pay sales commissions, transaction fees or self-direct fees when they buy, sell or switch funds, there is no minimum, and we’ve even reduced the volume of paper associated with the mutual fund purchase that irritates so many investors.
ING Direct Funds Limited offers select mutual funds from:
- ING Funds
- AIC Limited
- AIM Trimark Investments
- CI Funds
- Fidelity Investments
- Franklin Templeton Investments
- Mackenzie Financial
ING DIRECT also offers RSP loans that offer great rates, stability and safety. Our loans give customers the opportunity to top up their RSP contribution to minimize their taxes. Customers have a choice of repayment terms: nine or 12 months with a current highly competitive interest rate of 4.50 per cent. Loan proceeds must be used for deposit to one of the following until the loan is repaid: ING DIRECT RSP Investment Savings Account, ING DIRECT RSP GIC or the ING DIRECT funds account.
ING DIRECT (global) was recently voted “world’s leading direct bank” in the Lafferty International Retail Banking Awards of 2003. ING DIRECT is the operating name for ING Bank of Canada. The ING DIRECT brand stands for high value, simple-to-use products that help Canadians save their money by offering high interest rates on deposits with no fees or service charges, and low rates on loans and mortgages. ING DIRECT is a Canadian bank with almost one million customers and over $12 billion in assets.
ING DIRECT is a member of ING, one of the top 20 financial services organizations in the world. Customers can bank with ING DIRECT 24 hours a day, seven days a week via www.ingdirect.ca or by calling 1-800-ING DIRECT.
Mutual Funds are offered by ING Direct Funds Limited, a wholly-owned subsidiary of, and separate entity from, ING Bank of Canada; mutual funds are not CDIC insured; available for residents of ON, BC, AB, SK, NB, PE, and NL only. This communication does not constitute an offer or solicitation by anyone in any jurisdiction in which such an offer or solicitation is not authorized or to any person to whom it is unlawful to make such an offer or solicitation.
