ING DIRECT $50 IRA Bonus

by Andy Hough on January 24, 2011

ING DIRECT is currently offering a $50 bonus for opening an IRA. This is a good deal although since the bonus will be a contribution to the IRA you will not be able to take it out for a while without penalty. Unless you are age 59 1/2 or older or another exception to the penalty applies in your case. Here is some of the small print from the bank promo site.

Open a new FDIC-insured Individual Retirement Account (savings or CD) and deposit $200 by February 7, 2011. A $50 bonus will be paid into your new IRA savings account by February 28, 2011. The bonus will be considered a 2011 contribution and counts towards your annual IRA contribution limit. The bonus will be reported to the IRS on form 5498. You must have earned income in 2011 to qualify.

It is pretty simple. I plan to take advantage of the bonus myself even though the rates are so low. Visit their site for more information on this IRA bonus.

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