Beer Girl said:
Beer Girl:
It depends on how ING has presented the rate of return. The 3.15% could be an annual percentage yield (APY) that is based on compounding daily or monthly. For ease of discussion, simply using 3.15% yield for a year on 10K, would roughly earn you $26.25 per month. The means used for compounding will likely adjust this figure slightly upward.
You get the money monthly if you were wondering. I have lots of different accounts with them. A great option, but just don't bother them much. They are well known for closing accounts for people that call in and ask too many questions or do things they feel aren't consistent with the goals of saving money for your future.
