Ally Bank jumps online savings interest rate to 1.80% APY
Ally Bank maybe one of the few banks which are increasing their interest rates these days. The online savings account interest rate improved from 1.75% APY to 1.80% APY.
The high interest savings account maintains the same feature as before. It still does not impose a balance requirement and does not collect any monthly service fees. The interest rate is compounded on a daily basis. The number of withdrawals is limited to six as guided by federal laws.
The current savings rate is comparatively higher than other online banks like HSBC Direct, ING Direct, and Bank of America to name some.
Interested consumers can open an account online. Have your social security number and driver’s license handy when you sign up for an account over the internet. You can call their customer service line through 877-247-ALLY if you have any inquiries.
Ally Bank is insured with the FDIC through certificate number 57803.
