Ally Bank, which is the rebranded GMAC Bank, is offering a 2% APY online savings account with no minimum balances and no monthly fees. You may have seen some of their commercials on television recently as they’re making a big push to rebrand themselves.
One feature that Ally Bank is offering over other online savings accounts is 24/7 phone support and they even show you the wait time online. This is a pretty great feature if it works correctly.
I posted earlier on Ally Bank’s 1.85% no penalty 9 month CD. They’re also offering a 2.30% APY 1 year certificate of deposit. There’s no minimum deposit on their certificates of deposit which is unheard of for CDs. Although I don’t see the point in getting a CD with less than $1,000.
Ally Bank has a 3 out of 5 star soundness rating from bankrate and is FDIC insured.
I could have sworn it WAS 2.25..its not 2.05! Thoughts so, a day or so after I’m interested it would go down. I spent more in fossil fuels then I would have made on interest.