Canadians Flock to Tax-Free Savings Accounts

    More than 100,000 Canadians have opened a Tax-Free Investment Savings
    Account with ING DIRECT

    TORONTO, Oct. 30 /CNW/ - In less than a month since its launch, more than
100,000 Canadians have opened a Tax-Free Investment Savings Account with ING
DIRECT. ING DIRECT was the first company to launch an early version of the
Tax-Free Savings Account, which becomes official in 2009.
    "As soon as we found out that Tax-Free Savings Accounts were coming to
Canada, we immediately began working on a way to bring the benefits of
tax-free saving to our Clients with urgency," said Peter Aceto, President &
CEO of ING DIRECT. "We knew our Clients would love the chance to save even
more of their money with us, but we've been blown away by the interest in our
Tax-Free Investment Savings Account, both by our existing Clients and
Canadians in general. The demand has exceeded our expectations. It's been a
busy month getting Canadians signed up."
    The ING DIRECT Tax-Free Investment Savings Account pays a base rate of
three per cent, calculated daily and paid monthly, and an additional bonus
interest equal to the interest earned will be credited on December 31, 2008,
for deposits of up to $5,000 in the account during the pre-launch period.
Money invested in the Tax-Free Investment Savings Account will be deposited
into a TFSA on January 1, 2009 where interest earned will be tax-free. There
are no fees or minimums associated with the Tax-Free Investment Savings
    For more information about the ING DIRECT Tax-Free Investment Savings
Account, visit

    About ING DIRECT

    ING DIRECT is Canada's largest direct bank with over 1.6 million Clients
and more than $24 billion in total assets. ING DIRECT is giving the power of
saving to all Canadians by offering high-value, simple products such as high
interest savings accounts with no fees or service charges and low rates on
mortgages. ING DIRECT has been operating in Canada since 1997, and since that
time Clients have earned more than $3 billion in interest. Clients can bank
with ING DIRECT 24 hours a day, 7 days a week, at or by
calling 1-800 ING DIRECT.

For further information:

For further information: or to arrange an interview, please contact:
Lisa Naccarato, ING DIRECT, Office: (416) 758-5072, Mobile: (416) 885-0348,

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