Ally Bank
Ally Bank is the new name for GMAC Bank, the financial arm of General Motors. Ally has set themselves up as the "no fine print" bank. For savers, that means no minimums and no monthly fees.
This online bank offers several high interest rate accounts including the Money Market account, the Online Savings account, Certificate of Deposit accounts, and an Interest Checking Account.
Those looking for Certificates of Deposit should take special note of Ally Bank's 2-Year and 4-Year CDs. Ally Bank calls these “Raise Your Rate CDs.” That's because savers have the option of increasing the rate once with the 2 year CD or twice with the 4 year CD if the rate goes up during the CD’s term.
Online Savings Account Rate
| Balance | APY | Rate |
|---|---|---|
| $0+ | 0.84% | 0.84% |
Rates as of 1-12-12. There is no minimum deposit required to open an Online Savings Account. APY = Annual Percentage Yield
Money Market Account Rate
| Balance | APY | Rate |
|---|---|---|
| $0+ | 0.84% | 0.84% |
Rates as of 1-12-12. There is no minimum deposit required to open the Money Market Account. APY = Annual Percentage Yield
Certificate of Deposit (CD) Rates (More Info)
| Term | APY |
|---|---|
| 3 Month | 0.39% |
| 6 Month | 0.74% |
| 1 Year | 1.01% |
| 2 Year | 1.14% |
| 3 Year | 1.34% |
| 4 Year | 1.49% |
| 5 Year | 1.74% |
Rates as of 2-20-12. There is no minimum deposit required to open a certificate of deposit. The 2-Year and 4-Year CDs have the option of raising the rate during the term of the CD. APY = Annual Percentage Yield
No-Penalty CD Rate
| Term | APY |
|---|---|
| 11 Month | 0.91% |
Rates as of 12-23-11. There is no minimum deposit required to open a No-Penalty CD. Get your full balance back any time after the first six days of funding the account without penalty. APY = Annual Percentage Yield
Interest Checking Account Rates
| Balance | APY | Rate |
|---|---|---|
| $0 - $14,999 | 0.40% | 0.40% |
| $15,000+ | 0.75% | 0.75% |
Rates as of 1-20-12. There is no minimum deposit required to open the Interest Checking Account. APY = Annual Percentage Yield
Ally Bank Reviews
Review from Max
"Ally for me has been the best banking experience. Many of the complaints you see here..."
Read More Ally Bank Reviews >>
Contact
www.ally.com
(877) 247-ALLY