Featured Savings Rates
Featured Accounts

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Most Popular Ally Bank Accounts

Account TypeAPYAccount NameMinMax
Savings1.20%Online Savings Account--Details »
CD1.35%High Yield 12-Month CD--Details »
CD1.50%No Penalty 11-Month CD$25k-Details »
CD1.60%High Yield 3 Year CD$25k-Details »
CD2.25%High Yield 5 Year CD--Details »

Overview / Commentary
6985 Union Park Center
Midvale, UT 84047

Ally Bank, a EpBooks.us advertiser, is a Utah-based Internet bank that focuses primarily on offering consumer savings products, including savings, checking, money market, certificate of deposit (CD), and IRA accounts. The bank also provides credit cards and auto financing services and tools on its lending side and helps customers determine whether to lease or buy a vehicle.

Ally Bank’s online savings account regularly offers one of the highest interest rates in the country as far as savings accounts go. It comes with no monthly maintenance fees and no minimum deposit to open. Deposits and withdrawals can be performed through Ally’s fast online ACH transfer service, and up to six withdrawals per month are allowed without a fee. Customers can also write cashier’s checks out of the account for free.

Ally’s Interest checking account also offers a highly competitive compounding interest rate for balances of $15,000 or more. It comes with a free MasterCard debit card, free checks, unlimited check writing, and free ATM fee reimbursements from any ATM nationwide. This checking account has no minimum initial deposit and no monthly maintenance fees.

The Money Market account offered by Ally is very similar to its online savings account, but with the added flexibility of several checking account functions like a debit card, free checks, and ATM fee reimbursements. The Money Market’s interest rate is typically quite competitive, and no minimum deposit or monthly balance requirements makes it a very attractive hybrid account.

CDs and IRA CDs are also available and come in term lengths ranging from 3 months to 5 years. Ally features a Raise Your Rate CD that affords one bump-up allowance if there is a rate increase during the life of the CD. Its No Penalty usually offers a rate similar to the savings account, and EpBooks.us has discussed the strategies behind opening one or the other.

Ally Bank online banking provides a sophisticated and secure platform on which its sflimoexpress.net are managed. Ally eCheck Deposit offers an easy way to deposit checks via a smartphone camera, computer scanner, or free paid-postage envelopes. Ally also makes it easy to transfer funds between Ally accounts or between Ally and non-Ally accounts for free, and that includes transfers associated with paying bills as well. Mobile banking apps make it easy and convenient to accomplish all of the aforementioned tasks while on the go. Ally Bank has no physical branches, and therefore offers free ATM fee reimbursements for all of its accounts.

Ally Bank was originally established as GMAC Automotive Bank in 2004. In 2008, the bank suffered significant losses as a result of the bankruptcy of automakers GM and Chrysler. The bank has grown stronger in recent years, having repaid over $6 billion of its government debt as of May of 2013. Ally is headquartered in Midvale, Utah and services over 1 million opened sflimoexpress.net through its online banking platform.

Related Posts

Another Savings Account Rate Hike at Ally - MM Rate Up, But Still Low - 9/1/2017

This morning, Ally Bank increased the rate of its Online Savings Account by 5 bps. The new rate is now 1.20% APY. Ally’s money market account also had a rate increase.

Ally Bank Hikes Rate On Both Online Savings & Money Market - 9/1/2017

Online Savings To 1.20% and Money Market To 0.90%

Ally Bank Ups Savings Account Rate to Highest Level Since 2010 - 6/30/2017

Ally Bank increased the rate of its Online Savings Account by 10 bps. The new rate is now 1.15% APY. This same rate change also took effect on the IRA Savings Account.

View all posts from:

12/24/14 - Ally Introduces Buyer's Choice Auto Financing Plan With Cadillac
12/22/14 - Ally Exits TARP - Effects on Ally Bank?
12/19/14 - Another Savings Account Rate Increase at Ally Bank
12/19/14 - Another 2-Year CD Rate Increase
12/12/14 - Ally Bank Increases Rates on Savings Account and Two CDs
12/12/14 - Ally Raises Savings Rate...
12/8/14 - Ally 3 Year CD Rate Hike.
11/4/14 - SEC Asks Ally For Subprime Loan Documents
9/18/14 - Ally Raises 5 Yr Cd Rate
9/5/14 - Ally Bank Raises Savings Account and 5-Year CD Rates
9/5/14 - Ally Raises Savings Rate
8/14/14 - Higher CD Rates at Ally Bank
8/13/14 - Ally Minor CD Rate Changes
8/12/14 - Bonus For Maturing CD's
7/22/14 - Ally Bank Giving Customers Industry-Leading Anti-Malware Software For Free
6/16/14 - Ally Bank Tops Pew “Checks & Balances” Study
6/12/14 - How This CD Tracker Tool May Benefit The Bank More Than You
5/14/14 - Are “Raise Your Rate” Type of CDs a Good Deal?
4/15/14 - Review of the New Ally Mobile Banking App
4/15/14 - Information From Ally Bank On The Heartbleed Online Bug
4/15/14 - US Bank To Acquire Document Custodian Business From Ally Bank
4/9/14 - Ally Financial Prices IPO At $25
3/4/14 - Ally Bank Launches "Discovering Retirement" Campaign
2/12/14 - Ally Weather Related Notice
2/11/14 - Ally's Loyalty Rewards
2/5/14 - Have You Used Ally's Mobile Banking? App For Windows Phone 8 Just Released
2/1/14 - Ally Drops Checking Account Rates
1/13/14 - $250 IRA Bonus at Ally Bank
1/10/14 - Ally Raised 12 Month CD
1/7/14 - Update on Ally Bank’s New Straight Talk Product Guides
12/27/13 - Ally Ordered To Pay $80 Million In Damages
12/14/13 - Ally 1 year CD Rate Decrease
12/13/13 - Ally Bank's CD Loyalty Rewards Program Changes for 2014
12/12/13 - Ally Loyalty Rewards Decrease Jan 18, 2014
12/10/13 - Government Ownership Of Ally Bank After Government Sold All General Motors Shares
12/9/13 - Ally Bank Introduces Concise and Standard Account Disclosures
11/26/13 - Ally Bank Offering Free Security Software to Customers
11/21/13 - Ally Financial Repays Treasury $5.9 Billion
11/13/13 - Ally MM/OSA Rate Decrease
10/29/13 - Bauer Financial Savings Account Rate For Ally Bank In Error?
10/28/13 - Review of Today’s Bump-Up CDs - Is the Bump-Up Feature Useful?
10/26/13 - Ally 11Mo No Penalty CD Rate Increase
10/25/13 - Ally Bank Increasing Early Withdrawal Penalty on New Long-Term CDs
9/25/13 - Ally Bank’s New Ad Campaign: Trying New Things And Nothing Hidden
9/9/13 - Ally 2 Year CD Rate Decrease
8/21/13 - Ally To Repay U.S. Taxpayers $5.95 Billion, To Sell Shares
7/25/13 - Ally Bank Publicizes Large Deposit Growth - Good News For Savers?
6/19/13 - Ally Scheduled Outage Sat, Sun, 6/22-23
6/14/13 - Raffle For 2 Tickets To See Paul Mccartney Live @ Fenway Park!!!
6/12/13 - Ally Bank’s Resource Guide for Establishing Trust Accounts
4/29/13 - How Ally Bank Keeps Your Money Secure
4/12/13 - Ally CD Renewal Goof
4/11/13 - Changes Are Coming To The Ally Online Banking Login Over The Next Few Weeks
4/1/13 - Deciding Between Ally Bank’s Savings Account And No-Penalty CD
3/31/13 - Is It Better To Open Allybank No-Penalty CD Or Savings Account At This Time?
3/18/13 - Cyprus Deposit Tax - Could It Ever Happen Here?
3/11/13 - Ally Bank Cuts Savings Account Rate To 0.84%
3/8/13 - Ally Financial Scores Poorly on Fed's Stress Test - Effect on Ally Bank?
3/8/13 - Ally Financial Inc. : Ally Financial Statement On Dodd-Frank Act Stress Test Results
3/7/13 - My Experience with Ally Bank's Loyalty Rewards Program for CD Renewals
2/20/13 - Ally Bank Issuing False Security Alerts!
2/20/13 - Ally Bank To Sell Business Lending Mortgage Operations
1/25/13 - Rate Down To .90%
1/23/13 - Ally Bank Online Account Access
12/21/12 - Ally Financial Repays $4.5 Billion In Government Debt
12/10/12 - Security Management
11/19/12 - Ally Bank Releases New Version of Mobile Banking with eCheck Deposit
11/17/12 - GM Close To Stake In Ally Foreign Operations
11/11/12 - Early Closure Of An Ally Bank CD
11/2/12 - 2nd Version Of Ally Mobile Banking Scheduled For Later This Month
11/1/12 - Ally Repays $2.9 Billion Of Government-Backed Debt
10/30/12 - Ally Bank's Loyalty Rewards Program FYI
10/26/12 - Allan Roth's Take On Ally Banks CD's Recent Policy Re-Wording
10/25/12 - Ally Bank Changes Deposit Agreement Covering CD Early Withdrawals
10/24/12 - Change To Ally Bank Deposit Agreement Terms For CD Early Withdrawal
10/23/12 - Ally Perks Deal - $5 Cash Back At Target.com
10/19/12 - Ally is Latest Bank to Be Hit by Mideast Cyberattack
10/16/12 - Ally Bank Commercial With Economist: Why They Have A Raise Your Rate CD
10/2/12 - Ally Perks Deal - $5 Back At Lowes
10/2/12 - Ally Bank's New Online CD Ladder Tool - CD Ladders Still Useful?
9/21/12 - Ally Bank Site Maintenance Scheduled For Saturday
8/31/12 - Ally Bank Increases Its Savings & Money Market Account Rate
8/21/12 - Differences Between Ally Bank's Savings and Money Market Accounts
8/15/12 - U.S. Treasury Appoints Two Directors To Ally Financial Board
8/8/12 - Cash Back Debit Card Deals At Ally Bank
7/9/12 - CDs Mailed At Maturity A Law?
6/25/12 - Are Your CDs/Investments Keeping Up With Inflation?
6/21/12 - Ally Yo-Yoing Their CD Rates?
5/30/12 - Scathing Commentary On Ally Financial's ResCap Bankruptcy
5/24/12 - Ally Quiz Part I: How Well Do You Know Your Deposit Options?
5/15/12 - Ally Financial Mortgage Unit's Bankruptcy and Its Impact to Ally Bank
5/14/12 - Ally Hopes To End Mortgage Woes With Rescap Bankruptcy
5/12/12 - Review Of Ally's Mobile Cash-Bank Finder & Call-Center-Hold-Time Meter
5/10/12 - Early Withdrawal Of An Ally Bank 5-Year CD
5/7/12 - Time Running Out For Ally Financial's Restructuring
5/1/12 - Ally Bank Launches Mobile Banking & Reports on Deposit Growth
4/25/12 - Ally Bank's Loyalty Rewards Program for CD Renewals
4/24/12 - Ally "Loyalty Rewards" CD Renewal Info
4/18/12 - Ally Bank's Electronic Consent Agreement
4/15/12 - Bankruptcy Ahead For Ally Financial Unit?
4/13/12 - ALLY Bank Scheduled Mantenance
3/28/12 - Feds Ready To Dump Ally Financial
3/17/12 - Analysis: Bank Stress Tests Highlight Ally Financial's Challenges
3/15/12 - Impact of Ally's Stress Test Failure on Ally Bank?
3/1/12 - Rate Drop At Ally
2/21/12 - Ally Bank Offers Free Anti-Malware Software
2/17/12 - Ally Bank Fails To Pay Interest To Thousands Of Its CD Holders
2/17/12 - Ally Financial Weighs Sale As IPO Looks Bleak
2/9/12 - Double Check Your Ally Bank CD Interest
1/15/12 - Happy "Birthday"
12/8/11 - My Experience with Ally Bank's No Penalty CD
12/8/11 - Unlimited ATM Fee Rebates Even In Casinos
11/4/11 - Ally Bank's Suitcase Of Money Commercial
11/4/11 - Oddity With Ally Bank's CD And Savings Account Rates
10/25/11 - Ally Bank's eCheck Deposit is Now Available to All Customers
10/24/11 - Echecks For Ally Bank
10/21/11 - Ally's eCheck Deposit Is Now Open To All
10/19/11 - Ally Bank Cut Rates Again
10/12/11 - Methods to Make Deposits to Your Internet Bank Accounts
10/11/11 - Leaving Your Big Bank and Choosing an Internet Checking Account
9/7/11 - Ally Announces Plans For Mobile Banking
9/4/11 - Make Long Term CD Yields Table A Permanent Feature?
9/4/11 - Ally Bank 5-Year CD Rate Continues To Fall
8/25/11 - Ally Rates Down
8/18/11 - How Long Will The Ally Bank Site Be Down?
8/16/11 - Some Important Ally Bank CD Details
8/4/11 - Ally 5 Year CD Rate Decrease Tomorrow
7/22/11 - Update on Ally's Bank-to-Bank Transfers
7/21/11 - Ally Bank Wants To Poach ING Direct Customers
6/24/11 - Ally Bank's New Debit Card Cash Back Program: Ally Perks
6/23/11 - Ally Bank's Popmoney - New Service for Person-to-Person Transfers
6/21/11 - Ally Bank's New Raise Your Rate CD - Better Than the 5-Year CD?
6/21/11 - Ally Bank Races Ahead With IRAs, Ally Perks, eCheck Deposit
6/20/11 - Ally Bank's New IRA CDs and IRA Savings Account
6/19/11 - Ally Bank Launches Several New Accounts and Services
6/17/11 - Ally Bank Launches Ally Perks Debit Card Rewards Program
6/10/11 - Review of Ally Bank's eCheck Deposit
6/10/11 - Rate Jump At Ally Bank On Online Savings And Money Market Accounts. 1.00% to 1.04% APY :)
6/9/11 - Ally 5 Year CD Rate Change Alert
5/7/11 - Ally Drops Rate On "No Penalty" CD Once Again
4/14/11 - Ally Bank Starts Roll Out of eCheck Deposit for Scanning Checks at Home
3/31/11 - Ally Files With The SEC For An IPO Later This Year
3/21/11 - Money Market/On-Line Savings Rate Down
3/21/11 - The Best CD Rates and the Smallest Early Withdrawal Penalties
3/12/11 - Ally Drops Rate On "No Penalty" CD
2/22/11 - Review of Some Useful Features of Ally Bank CDs
2/17/11 - Ally Updates Telephone CD Rates One Day Ahead Of Time
2/11/11 - What Makes You Love Your Bank?
2/9/11 - How Ally Bank Has the Best CD Rates For Most CD Maturities
2/8/11 - Ally Bank's After-Penalty 5-Year CD Rates By Month
1/26/11 - Ally Financial Meets With Banks On IPO
1/26/11 - Less-Than-Ideal Features of Ally Bank's Transfer Service
12/15/10 - Applying For Ally Bank Account With A Credit Freeze
11/18/10 - Ally Drops Savings Rate Again
11/17/10 - Ally Rate Drop
11/4/10 - Ally Bank Cuts Savings And Money Market Account Rate To 1.20%
10/21/10 - Important Note about Adding Beneficiaries to Your Ally Bank Accounts
10/18/10 - Ally Bank's New Account Center with New System for Transferring Funds
10/4/10 - Ally Bank's Raise Your Rate CD vs. the 5-Year CD
10/3/10 - New Ally Bank Commercials: The Interview, The Dog And The Rock Band
9/29/10 - Rate Decrease
9/29/10 - Ally Bank to Offer IRA CDs - How It Might Compare to Discover Bank and PenFed
9/20/10 - Ally Bank's 5-Year CD as an Alternative to Reward Checking?
9/6/10 - What Can Happen If You Use Your Ally Checking Account As A Business Account
8/31/10 - Ally Bank Cuts Rate On Savings And Money Market Accounts
8/23/10 - Ally Bank's CD Renewal Bonus Update
8/23/10 - Ally's 5 Yr CD With Its 60 Day Early Withdrawal Penalty Advantage
8/17/10 - Excessive Withdrawal Fees from Bank of America, Citi, Wells Fargo and Ally
8/12/10 - Ally Bank Is Slowly Cutting Rates
8/5/10 - Sign Of Future Rate Cuts? Ally Bank's 5-Year Brokered Cds At 2.35%
7/13/10 - Ally Brand Name Will Completely Replace GMAC
7/2/10 - Update on Ally Bank's CD Deal and ACH Links
6/17/10 - Ally Bank Is Now Limiting the Number of ACH Links
6/14/10 - Calculating Your Yield On An Early Withdrawal From An Ally Bank 5-Year CD
6/11/10 - Ally Bank's 5-Year CD Yield Falls To 2.95%
6/3/10 - New Publicity of Ally Bank's Hot CD Deal
6/3/10 - The Best CD Rate is Not Always the Best Deal
5/30/10 - Ally Bank's Ice Cream Commercial
5/24/10 - Ally Continues to Offer CD Renewal Bonuses
4/13/10 - I'm Looking For Some Feedback
4/3/10 - Tips on Opening an Ally Bank Certificate of Deposit
4/2/10 - Opening an Ally Bank CD
3/31/10 - CD Rate Cuts at Ally Bank
3/26/10 - No-Penalty CD Change at Ally Bank and an Update on the Early Withdrawal Penalty for Regular CDs
3/19/10 - Update on Ally Bank's CD Early Withdrawal Penalty
3/17/10 - Future of Ally Bank as GMAC Tries to Repay Its TARP Debt?
3/15/10 - Ally Bank Is Not JUST A Completely Incompetent Organisation
3/12/10 - I Funded My Ally 60
3/9/10 - Make Sure To Get Your Information In Writing
3/9/10 - Ally Bank's 5-Year CD and 2-Year Raise Your Rate CD - Which is Better?
3/7/10 - Ally Bank's 10-Day Rate Guarantee for CDs
3/3/10 - Ally Bank Cuts Rates on Savings, Money Market and CDs
3/1/10 - Update on Ally Bank: CD Policies and New Commercials
2/17/10 - Ally Bank Cuts Savings and Money Market Yield to 1.39% (was 1.44%)
2/9/10 - Ally Bank Cuts Savings and Money Market Rate
2/4/10 - Ally Bank's Parent, GMAC Financial, Posts Quarterly Loss
2/3/10 - Ally Bank Cuts 1-year CD Yield
1/28/10 - Ally Bank's New 2-Year Bump-Up CD - How It Compares to Other Flex CDs?
1/25/10 - Huge Change to Ally Bank CDs Will Benefit Savers
1/18/10 - Ally Bank's CD Loyalty Bonus Is Back
1/15/10 - Ally Bank Launches an Interest Checking Account
1/13/10 - Ally Bank Plans to Launch a Checking Account by End of This Week
1/10/10 - Update on Ally Bank's CD Renewal Bonus
1/5/10 - GMAC headed for $5 billion loss [CNN]
12/10/09 - Ally Bank News - Fee Changes and CD Renewal Bonus
12/8/09 - GMAC Bank Changes Name to Ally Bank - New 2.50% 9-Month No-Penalty CD
11/17/09 - Link Verification When Opening a New Account at Ally Bank
11/13/09 - Ally Bank Increases Rates - FDIC Restrictions Having an Effect?
11/2/09 - History of the Government's Intervention into GMAC and Ally Bank
10/30/09 - Ally Bank Cuts Rates - Linked to the GMAC Bailout?
10/27/09 - GMAC Reported To Have Agreed to Deposit Rate Limitations
7/10/09 - Another Rate-Cut Friday at Ally Bank
6/19/09 - Third Week in a Row of Rate Cuts at Ally Bank
6/19/09 - FDIC Starts to Crack Down on Ally Bank's Deposit Rates
6/12/09 - More Rate Cuts at Ally Bank
6/5/09 - Rate Cuts at Ally Bank
5/29/09 - American Bankers Association Urges FDIC To Force GMAC/Ally Bank to Cut Deposit Rates
5/1/09 - GMAC Bank Raises the 12-Month CD Rate
4/14/09 - Review of GMAC Bank and its 2-Year CD - Nationally Available
3/28/09 - Review of GMAC Bank and its 12-Month CD - Nationally Available
3/13/09 - GMAC Bank's Online Savings Account Yield Back Up to 3.75%
12/24/08 - GMAC Bank's New Online Savings Account
11/20/08 - GMAC Applies to Become Bank Holding Company and Seeks Bailout Funds
11/6/08 - GMAC Bank's Parent Posted Record Losses
7/18/08 - Higher CD Rates at GMAC Bank Plus News on the FDIC Waiver
4/25/08 - GMAC Bank's Long Term CD Rates Up - Interest Rate Increase Expectations?
2/29/08 - Opening a GMAC Bank Money Market Savings Account
6/8/07 - Big Jump in GMAC Bank's Long Term CD Rates - New Trend?
1/12/07 - GMAC Bank's Money Market Rate Drops - GMAC's Future?
10/6/06 - GMAC Bank Raises Money Market Savings to 5.25%
8/4/06 - Rates Drop at GMAC Bank - Have Rates Peaked?
6/30/06 - Slight Rise in GMAC Bank CD Rates
6/2/06 - Short Term CD Rates Up Slightly at GMAC Bank
5/20/06 - GMAC Bank CDs: New 5.20% 6-Mo, Opening Process
5/5/06 - GMAC's Long Term CD Rates Move Up Slightly
3/10/06 - GMAC Bumps Up Money Market Account and CD Rates
1/9/06 - Some Concerns with GMAC Bank

Reviews (513)

Easy and Convenient.

Posted by: Interioroi | Sep 8, 2017

As the title says, signing up and using Ally Bank for checking and savings services is easy and convenient. I was looking for a good online bank that I could have my online business/work income be deposited into. I wanted something that either had a low or no signup fee. Ally Bank allowed me to signup rather easily and required no signup fee. I was given a checking and savings account within minutes and I was able to start using this account once I made my first deposit. I was sent a Mastercard debit card within two weeks and some temporary checks. Having this account is rather convenient in that I can use their mobile app to access information about my account such as balances, deposits, and withdrawals at the touch of a button. I've had this account for over a year now and it's been a pleasure doing business with this institution and I would highly recommend this for anyone who has no need for visiting an actual brick and mortar bank.

Ally is my ally

Posted by: Jackhech | Aug 30, 2017

When I started searching for a bank I had two goals in mind: My first goal was to find a bank that had a decent savings account where my money would be somewhat hedge against inflation. Most bank pay a paltry and dismal .01% interest rate for you lending them your money, quite an insult really. Ally stood out among the top banks having interest rates, even higher than some CD's. It was fortunate that my first goal tied with my second goal when I chose ally, they were pretty easy to use. Throughout setting up my account and moving my money between banks, ally made the process really easy and I felt secure while doing it as well. Even when I've had to call customer support they've made the process really painless. Overall it's been a good 2 years with ally.

Savings Account

A couple weeks ago,I made a deposit to my savings account. The deposit was somewhat large and important. A couple days later, I checked to see if my deposit was cleared and in my savings account. The deposit was not there yet so I called an Ally customer representative to see what the problem with my deposit was. The representative was very helpful and respectful. I was having a bad week so I was not very respectful and was a bit rude with her. She looked up into my account and noticed that I had typed my account number wrong. We went through every step and gave her my correct account information. Two days later the amount I deposited was sitting in my savings account. I have been a customer with Ally for two years now and all that I can say is that they have the best customer service I have had to deal with. I really recommend Ally bank to everyone.

Great Rates, But Costly Lessons Learned

Ally's "no-penalty 11-month CD" motivated me to be a customer and I like their 24/7 live customer service. However, some of their agents, including technical team members are still providing erroneous information. Some other hard lessons I learned:

- Customers cannot set up "custom" alerts on CDs in spite of what multiple agents claimed.
- Customers must open a second Ally account and keep it active in order to qualify for speedier disbursement of funds via wire transfer or ACH.
- CDs can only be funded one time. I was initially informed that CDs can be funded from multiple external accounts within the 30-day window. In reality, funding a CD from numerous sources must be deposited in a separate Ally account then transferred to the new CD in a single transaction. (Again, a separate Ally account must be opened.)
- There are periods when funds do not earn any interest.
- I noticed that when I agree to complete a customer satisfaction survey prior to being transferred to an agent, and subsequently the agent was not able to answer my question or resolve my issue, I am disconnected and unable to complete the survey. Subsequently, I learned that bonuses are awarded each month to agents based on their survey evaluations; the latter also impact their performance reviews.



Health Grade Components

FDIC Certificate #57803
Year Established2004
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.23%
Return on Equity - YTD8.33%
Annual Interest Income$2.30B
Assets and Liabilities
AssetsQ2 2017vs Q2 2016$126B$114.6B
LoansQ2 2017vs Q2 2016$95.37B$84.97B
DepositsQ2 2017vs Q2 2016$86.26B$72.73B
Equity CapitalQ2 2017vs Q2 2016$18.87B$17.26B
Loan Loss AllowanceQ2 2017vs Q2 2016$676.0MM$501.8MM
Unbacked Noncurrent LoansQ2 2017vs Q2 2016$324.0MM$259.0MM
Real Estate OwnedQ2 2017vs Q2 2016$13.0MM$9.3MM
User-submitted Promotions & Notices

This section lists recent deals, promotions and rate changes submitted by our community within the past 90 days. Always verify official rates and promotions with the bank or credit union.

Ally Bank Hikes Rate On Both Online Savings & Money Market

IvoryMale |
Online Savings To 1.20% and Money Market To 0.90%

Ally Follows Other Top Online Banks By Raising Online Savings Rate.

buckeye61 |
Online Savings increase today. Now 1.15%

Ally "always-rewards" strategy

cumulus |
One way to pretty much always guarantee you'll get the Ally rewards bump (currently +.05%) when opening a CD with them is to maintain a permanent collection of low cost (say $1.00), short term (say 3 month) CDs with them. You stagger the CD maturities such that a few CD's mature each month with eligibility for rewards benefit.

By way of example: I maintain a collection of six 3 month CD's with ALLY, with 2 maturing each month. So every month I have the option of "renewing" one of these CDs into any ALLY offering I find attractive---with a .05% "reward". In particular, this month (June) when I took advantage of the 11 month no-penalty CD, I end up with a 1.55% APY on it. No fuss, no mess.

It's completely passive, low maintenance. Do nothing and the short term CDs renew for another 3 months; any month you convert one to a "real CD" merely add a new 3 month CD to keep your "always-rewards" collection in tact.

It's gotten so I only think of ALLY CD's in a plus5 sense; eg., am I interested in their 5 year 2.30% APY CD. It's not a perfect system, but it works for me; may/may not be worth the 5 basis points for you.

No Penalty CD Rate Increase

Maecl |
Ally raised the rate of the No Penalty CD to 1.50% with a $25,000 minimum

Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Ally Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Ally Bank Savings Account Rates

Ally Bank's online savings account has no minimum balance requirement and no monthly service charges. Withdrawals are limited to six per month which is based on federal regulations. Deposits and withdrawals can be made via Ally's online funds transfer service which provides for fast ACH transfers to and from your other banks. The online funds transfer service allows you to link to an unlimited number of external bank accounts.

1.20%--IRA Online Savings Account
1.20%--Online Savings Account

Ally Bank Money Market Rates

Ally Bank's Money Market account has no minimum balance requirement and no monthly service charges. Notable features include check writing (first 50 checks are free) and a check card. Withdrawals are limited to six per month which is based on federal regulations. Deposits and withdrawals can be made via Ally's online funds transfer service which provides for fast ACH transfers to and from your other banks. The online funds transfer service allows you to link to an unlimited number of external bank accounts.

0.90%--Money Market Account

Ally Bank Checking Account Rates

Ally Bank's Interest Checking account has no minimum balance requirement and no monthly service charges. It's a tiered rate account with the highest interest paid on balances of at least $15,000. Notable features include free checks with unlimited check writing and no ATM fees at any ATM. Ally will even automatically refund ATM fees charged by other banks. Other features include free online bill pay and a free debit card. Deposits and withdrawals can be made via Ally's online funds transfer service which provides for fast ACH transfers to and from your other banks. The online funds transfer service allows you to link to an unlimited number of external bank accounts.

0.60%*$15k*-Interest Checking Account
OTHER TIERS: 0.10% Up to $15k

Ally Bank CD Rates

Ally Bank's certificates of deposit have three variations. The first is the traditional type of CD with a fixed interest rate until maturity. Terms from 3 months to 5 years are available. The second type is a no-penalty CD. You are allowed a penalty-free early withdrawal any time during the term after 6 days from when the CD is funded. The third type is a bump-up CD called Raise Your Rate CD. It's a fixed rate CD that gives you the option to raise the rate one time during the term to the current CD rate for that same term. All CDs have no minimum balance requirement, although interest rates may vary depending on the amount deposited. The early withdrawal penalties for each of the CDs are shown in the detailed tables below for each product. The grace period at maturity when you can close the CD without penalty is 10 days after the maturity date. With Ally's Ten Day Best Rate Guarantee, when you fund your CD within ten days of opening or when your Ally CD renews, you automatically get the best rate Ally offers during those ten days.

2.25%--High Yield 5 Year CD
1.60%*$25k*-High Yield 3 Year CD
OTHER TIERS: 1.50% Up to $5k | 1.55% $5k - $25k
1.50%*$25k*-No Penalty 11-Month CD
OTHER TIERS: 1.00% Up to $5k | 1.25% $5k - $25k
1.50%--Raise Your Rate 2-Year CD
1.50%--Raise Your Rate 4-Year CD
1.35%*$25k*-High Yield 18-Month CD
OTHER TIERS: 1.20% Up to $5k | 1.25% $5k - $25k
1.35%--High Yield 12-Month CD
1.15%*$25k*-High Yield 9-Month CD
OTHER TIERS: 1.00% Up to $5k | 1.05% $5k - $25k
0.67%*$25k*-High Yield 6-Month CD
OTHER TIERS: 0.60% Up to $5k | 0.63% $5k - $25k
0.39%*$25k*-High Yield 3-Month CD
OTHER TIERS: 0.30% Up to $5k | 0.34% $5k - $25k

Ally Bank IRA Rates

2.25%--IRA High Yield 5-Year CD
1.60%*$25k*-IRA High Yield 3-Year CD
OTHER TIERS: 1.50% Up to $5k | 1.55% $5k - $25k
1.50%--IRA Raise Your Rate 2-Year CD
1.50%--IRA Raise Your Rate 4-Year CD
1.35%*$25k*-IRA High Yield 18-Month CD
OTHER TIERS: 1.20% Up to $5k | 1.25% $5k - $25k
1.35%--IRA High Yield 12-Month CD
1.15%*$25k*-IRA High Yield 9-Month CD
OTHER TIERS: 1.00% Up to $5k | 1.05% $5k - $25k
0.67%*$25k*-IRA High Yield 6-Month CD
OTHER TIERS: 0.60% Up to $5k | 0.63% $5k - $25k
0.39%*$25k*-IRA High Yield 3-Month CD
OTHER TIERS: 0.30% Up to $5k | 0.34% $5k - $25k

Ally Bank is an Internet only bank and does not have branch locations. Its headquarters is located at 6985 Union Park Center - Midvale, UT 84047