Ally Bank’s Current Offers: CD, money market and online savings
Ally Bank, formerly GMAC, frequently dabbles in the top 5 when it comes to savings rates. They are frequently regarded as one of the top online banks when it comes to interest rates and “no penalty guarantees.”
If you are unfamiliar with Ally Bank’s story, here it is in a nut shell…
Because Ally Bank was built on the foundation of GMAC Financial Services, they’ve learned that these times demand change and a new way of banking. They’ve claimed to take banking in a new direction.
They claim to value integrity as much as deposit rates and be a bank that will always be open, accountable, and honest. They swear to never deal in half-truths, kinda-truths, or truths only buried in fine print. They claim this is because they don’t have anything to hide (aka they are always going to give it to you straight).
On top of their self-proclaimed integrity, they also kicked off 2010 with some fairly solid savings rates that we wanted to reiterate here:
12 month CD – (no minimum deposit required) is yielding 1.80% APY. The national average for 1 year CD rates sits at 1.40% APY.
Money Market Account – (no minimum balance required) is yielding 1.49% APY. This account also comes with free checks, no ATM fees, and interest which is compounded daily. The national average for money market rates sits at 0.95% APY.
Online Savings Account – (no minimum balance required) is yielding 1.49% APY. This account also comes with no fees and the interest is compounded daily.
