An online savings account is an ideal way to save money and a key part of a well-rounded savings plan. It's also the perfect low-risk vehicle for first-time savers who can put aside only a little money, or anyone who doesn't want to pay high fees of other vehicles.
Opening and using a savings account is simple: all that's required is the proper identification and the minimum opening deposit amount. At Ally, you can open and fund your account with any amount.
These accounts are the perfect place to start for anyone saving for some specific goal: a house; a car; a vacation; a special anniversary; an education; an emergency fund in case of job loss or divorce.
Putting money into a savings account doesn't necessarily mean that, at some other time in your life, you won't want to move some of your money into higher-paying vehicles like short- or long-term certificates of deposit.
But the safest, most secure place to accumulate that money in the first place is a savings account. Take a look at Ally's savings account rates and savings products to see which one fits your needs.