RateAPY

Ally Online Savings Account Pays 1.49% APY

Posted by: RateAPY Bank Rates News
January 27th, 2010

Savings accounts are about more than just interest rates. Of course, the first thing to look for when you want to open a savings account may be a great interest rate. But that’s not the only thing.

Some savings banks may offer high promotional teaser rates that don’t last. Some may charge you if your balance drops below a certain amount. Some may charge monthly fees. Others may not compound interest daily.

To make sure you’re getting the most from your money, you should look at the savings account package as a whole–not just the headline interest rates.

Ally Bank Online Savings Account

The Ally Bank Online Savings Account offers a competitive rate of 1.49% APY, and it also provides low-cost banking. According to the bank’s Web site:

• There are no monthly fees
• A minimum balance is not required
• Many rates are permanent instead of promotional
• Your money grows faster by compounding interest daily

Best Savings Account for Your Needs

Find the best savings account for you. Compare savings rates–and overall savings packages–now.