High yield retirement savings
Earn a higher rate than traditional IRA savings.
- No minimum deposit to open
- No maintenance fees
- Daily compounded interest for maximum earnings
- Available for Roth, SEP, and Traditional IRAs. Find the IRA for you
- Access your accounts with Online Banking and Mobile Banking
- Funding options include rollover to Roth and Traditional IRAs
- The IRS may tax withdrawals; please consult your tax professional
- FDIC insured to the maximum allowed by law. Maximize your coverage
- Six transactions per statement cycle with no fees. Why only 6?
- Other fees, such as those for returned deposit items and outgoing wires, may reduce earnings
- Rate is variable and may change after the account is opened
- Ally's IRA Online Savings Account rate is accurate as of 5/24/2013. See rates
The Ally Difference
- Some banks will charge you a fee to maintain your IRA. Not us. We don't charge any maintenance fees.
- We don't require minimum balances to open. Many other banks charge a fee if your savings balance dips too low.
- We work to keep our rates high. Other banks often tempt new customers with promotional rates.
- We grow your money faster by compounding interest daily. Many others compound monthly, quarterly, or even annually.
Frequently asked questions
How do I make a withdrawal from my IRA Online Savings Account?
Because the online savings account is part of your IRA with Ally, you will need to request a distribution. To do this, you can either log in to online banking and complete the distribution request, call us at 877-247-ALLY (2559) 24/7, or complete and mail in the Distribution Form. Please remember that federal law limits the number of withdrawals and transfers from all U.S. savings and money market accounts to 6 per statement cycle. Unfortunately, you will be charged $10 for each transaction that exceeds this limit. If you exceed this limit on more than an occasional basis, we may be required to close your IRA Online Savings account.
How many withdrawals can I make from my IRA Online Savings Account each month?
You can make up to 6 withdrawals and transfers per month.
The limit is set by federal law for most electronic/ telephone/ check transactions from all U.S. savings and money market accounts. Please remember, you will be charged a $10 fee for each transaction after 6. If you exceed the transaction too many times, we may close your IRA Online Savings Account.
Please consult your tax professional for details on IRA distributions or withdrawals.