Online Banking

What Compound Interest Means for Your Savings

Remember that old movie line, “I wish I had a dime for every dime I had”? Whether you’re adding money to a high-yield savings account or socking it away in a certificate of deposit (CD), you want it to grow. That’s where compound interest comes in. It’s a simple—yet powerful—tool for making your dollars and […]

Savings Accounts

Swipe Right for Your Savings Account Match

When you’re looking for a match on a dating website or app, you have a general idea of your type. Think: funny, kind, a love of adventure… But can you say the same when shopping around for a savings account? Savings accounts are one of the more popular types of bank accounts around. More than […]

Savings Accounts

How APR Works & What It Means for Your Loan or Credit Card

Are you planning to get a loan or open a new credit card? You know you typically can’t borrow money for free. APR (annual percentage rate) indicates how much it costs to borrow money over the course of one year. To understand all the potential costs associated with loans and credit cards, you need to […]

Online Banking

Don’t Settle for Less: 5 Signs It’s Time to Break Up With Your Bank

As the song goes, “breaking up is hard to do.” That’s true whether it’s a relationship with someone you love, your hair stylist, or even your bank. And it’s even harder when the relationship isn’t bad, per se, but rather, could just be better in certain aspects. You’re probably satisfied with some of the things […]

CDs

Stash Your Cash: How to Build a CD Ladder [Video]

Make your cash work harder in a certificate of deposit–but not just one–ladder your deposits to help diversify your cash investments, reach your savings goals, and get a more secure bang for your buck. What Is a CD Ladder? A CD ladder is built by depositing a sum of money, equally, across multiple certificates of […]

IRA

Even Better Together: When an IRA Goes With Your 401(k)

You may feel pretty good about your retirement plan if you have a company 401(k). And you may even feel great if your employer matches your contributions—because, hey, free money! But if you’re like most people, you still wonder if your savings will keep up with those birthdays. Both 401(k) plans and IRAs are designed […]

IRA

IRA Rollovers: Move Your Money Without Breaking the Rules

If moving your retirement funds around makes you a little nervous, there’s good reason. With many retirement plans, including IRAs and 401(k)s, if you’re not careful, you could end up paying unexpected penalties and additional tax. Understand a few basic rules and consult with a tax professional so you can move your money without making […]

IRA

Your Future of Freedom: 3 Ways to Keep Funds Flowing to Your IRA

That adventurous future you’ve imagined is going to cost money. And opening an IRA (individual retirement account) is a great way to help you save up. But since your IRA won’t fund itself, here are three things you should do to help your retirement savings keep up with your future self. Re-energize your balance. First, […]

Online Banking

APY, APR, and Interest Rates: What You Need to Know and the One Thing You Don’t Want to Overlook

If you try to compare rates on things like auto loans, credit cards, home loans, or savings accounts, you’ll quickly see APY (annual percentage yield) and APR (annual percentage rate) numbers quoted all over the place. In a nutshell, APY refers to what you can earn in interest while APR refers to what you can […]

Online Banking

10 Reasons Why You Get More than a Great Rate at Ally Bank

    How would you rate your current bank? Good is never enough. Satisfactory is not okay with us. Providing you with a great rate is important to us at Ally Bank, but we also believe the best online bank helps you make saving a way of life, too. Here’s why and how we go beyond […]

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