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Ally Bank 2% APY Online Savings Account

June 2nd, 2009

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.

Savings Rates

  1. William
    June 5th, 2009 at 12:23 | #1

    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.

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