What was an Orange savings account?

Bankrate reports that an Orange savings account is a savings account offered by ING Direct Bank. ING Direct is the Internet banking arm of ING Bank. ING notes that as of October 2014, the Orange savings account has no fees and an increased interest rate after one year.

Bankrate explains that ING was founded in the Netherlands and began banking operations in the U.S. in 2000. Its U.S. headquarters is in Delaware. Since ING conducts most of its U.S. business electronically, it has a limited number of brick-and-mortar branches. As of August 2012, this allows the bank to offer higher-than-average interest rates on its checking and savings accounts.