ING Konto, the first savings account with no-fees

This year ING Bank celebrates the 10th anniversary of its flagship product. ING Konto has been on the market for 10 years now, with over 350,000 customers, to whom the bank has paid out over five billion crowns in interest. ING Konto keeps sustainable above-average interest rate, currently at 1.75%.

ING Konto consistently keeps a stable interest rate, which is now above the Czech National Bank"s repo rate, and is currently at 1.75%. "Our aim is a long-term relationship with our clients. They are well aware of the fact that ING Konto allows them to grow their finances as well as there are no limits for their finances and the money is always at their disposal," said Libor Vaníček, Head of Retail Banking ING Bank Czech Republic at press conference held on August 9th. The above-average interest rate, ten-year history on the Czech banking market and a growing number of clients and deposits, shows that ING Konto keeps its competitiveness even in the face of constantly expanding competition.

"We are very pleased that according to the recent survey "Czechs and ING Konto" survey performed for us by TNS AISA market research agency, Czechs who can save have a positive approach to savings and most of them save regularly or irregularly," said Libor Vaníček, and added: "Alas, we still face the trend that their savings strategy is mainly keeping the money on current accounts, as confirmed by almost 84% of surveyed Czechs, meaning, that they are rather decreasing than increasing the value of their depostis. Our goal remains the same, we want to provide Czechs with a safe and practical means to save, and to demonstrate to them the advantage of savings accounts."

Libor Vaníček also introduced the ING Bank term deposit, a new product tied to ING Konto, about which the bank will provide more information in September 2011.

ING Konto is a savings account offering a 1.75% p.a. interest rate for any deposited amount. Its setup and maintenance is completely free of charge, and money deposited in it is always available to the client. With ING Konto, its owner doesn"t have to cancel accounts at other banks, and can transfer arbitrary amounts to ING Konto and back. ING Konto can be accessed over the internet, telephone, or at the ING Financial center. ING Konto has won awards in the prestigious Zlatá koruna [Gold Crown] competition five times in a row now, achieving first place three of those times.