Ally Bank CDs and Savings Accounts

I love those Ally Bank commercials with the little children.   Totally love how they capture the bewildered looks at the unfair practices, implying that adults feel the same way when banks don’t play fair.  Of course we would never be so transparent on the outside but I’m sure we’ve often felt that way internally.

Today I’m going to tell you about two products offered by Ally Bank, their CDs and Savings Accounts.   Ally Bank is FDIC insured and you can find their FDIC Certificate #57803 was established in August 2004.

Ally Bank Online Savings AccountOnline Savings Account

Ally Bank is among the leaders in banking institutions with their high yield savings accounts.  They have a nifty little calculator which will allow you to figure out how much money you can earn in a year’s time with your savings.  Some of the terms and rules for having an Ally Bank Online Savings Account.

  • No minimum deposit to open
  • No monthly maintenance fees
  • Other fees, such as those for returned deposit items and outgoing wires, may reduce earnings
  • Daily compounded interest for maximum earnings
  • FDIC insured to the maximum allowed by law.
  • Six transactions per statement cycle with no fees.  (This is federally mandated)
  • Your actual variable rate will go into effect when you make your opening deposit


Ally Bank CD

 Ally Bank CDs

Here are some of the terms and rules for your Ally Bank’s High Yield Certificate of Deposits :

  • No minimum deposit to open
  • No monthly maintenance fees
  • Get the best rate we offer for your CD term with the Ally Ten Day Best Rate Guarantee
  • Daily compound interest for maximum earnings
  • FDIC insured to the maximum allowed by law.
  • Automatic renewal at maturity. If you make an early withdrawal, you will pay a penalty.

Do you bank with Ally?   Will you consider opening a savings or CD account with them knowing that their rates are so competitive to other banks?

Click on these links to learn more and open a new account:

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2 thoughts on “Ally Bank CDs and Savings Accounts

  1. Just checked and their savings account is getting .90%. I remember when it was 1.25%. They’re pretty similar to Ally for ease of use. I’m lucky to belong to a work credit union, Baxter Credit Union, where there’s a rainy day savings account that, if you deposit at least $25 a month and limit yourself to 2 withdrawals a year, gets 1.5% the first year and increases to 3.0% after your anniversary date. Now if I only had some money to put in there!


    Mrs. Accountability Reply:

    @Deborah Collins, thanks for filling us in those super rates from Discover! That rainy day savings account sounds very cool. I’m going to check and see if my credit union has anything similar. Thanks for visiting and commenting! 🙂


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