1.49% APY for online high yield savings account with Ally Bank
Ally Bank is still pushing for their high interest online savings account which earns 1.49% APY for all balances. The promo page states that it takes $0 to open an account.
You can complete an application online for this money in the bank deal. The bank does not set any minimum balance and does not charge any monthly service fees.
The current interest rates have dropped a bit compared to the previous 1.80% APY but it is still very competitive when compared with other banks offering online savings account. Interests are compounded on a daily basis.
According to the customer service you can send the initial funds via check or via ACH.
Like other savings account, this best saving account with Ally limits withdrawals to six every month. Starting at your seventh withdrawal, each transaction will cost you $10.
Ally Bank was built from the foundation of GMAC Financial services. The bank is well capitalized. They are also indexed with the FDIC under certificate number 57803.
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