Checking

Choosing a Checking Account

Which interest-bearing checking account is right for you? At Ally Bank, we feel that opening a new online checking account should be an easy decision. But as with any financial decision, it's smart to do some homework before you make your final choice. You can start the process of choosing a checking account by asking […]

CDs

Savings Synergy: High Yield CD Account Plus a Money Market Account

A savings plan is a personal thing. How you build it depends on your own financial goals and situation. While many people like the rates that come with a high yield certificate of deposit (CD) account, they also see the appeal of the easy access that comes with a product like a money market account. […]

Checking

How Do Interest-Bearing Checking Accounts Work?

Interest-bearing checking accounts, like money market and simple savings accounts, can be a way to earn interest on your money, but there are some key differences.In general, money market accounts like the one offered by Ally Bank pay a somewhat higher rate of interest than interest-bearing checking accounts. But there are federal limits to the […]

Money Market

Which Has the Highest Interest Yield?

If you have extra funds each month after paying for bills and other necessities, you are probably looking for a way to earn some interest on that money. As you research your options, you probably are looking for an account with the highest annual percentage yield. But although interest is important, it's not the only […]

IRA

Does Ally Bank Offer a Traditional IRA?

A Roth individual retirement account (IRA) is a wise choice for many people: But there also are smart reasons why you might choose a traditional IRA as a savings vehicle for retirement—especially if you’d like to reduce your tax burden now, not when you retire. Contributions to a traditional IRA are tax-deductible when you make […]

CDs

Get the Facts Before Changing Your CD Strategies

A certificate of deposit (CD) can be a good basic savings product. CDs usually offer higher rates than money market or savings accounts. And because you may be charged a penalty if you withdraw funds before a CD matures, there is an added incentive to leave the deposit where it is and allow your funds […]

CDs

Opening a Certificate of Deposit Account 101

A certificate of deposit, commonly referred to as a CD, is an interest-bearing deposit account offered by banks and credit unions. Unlike a variable-rate savings account where the interest rate may fluctuate, most CDs offer a fixed annual percentage yield (APY). The APY on a CD can be higher than a savings account. When you […]

CDs

Make Buying a CD Worry-Free With a Certificate of Deposit Calculator

Use a CD calculator to determine earnings.Choosing the right certificate of deposit (CD) doesn't have to be complicated. Using a certificate of deposit calculator can simplify the process. A CD calculator allows you to accurately compare CDs of varying interest rates and varying terms. With only a few keystrokes, you can input basic information and […]

CDs

Choosing Between CDs, Savings Accounts or Checking Accounts

When you know you have a specific time period in which you won't need access to your savings, you may want to put some of it into a certificate of deposit (CD). As a general rule, CDs often pay a higher interest rate than money market, savings and interest checking accounts. But this advantage comes […]

CDs

CD Withdrawal Penalty

When you open a CD, you agree that you will not withdraw the funds until the maturity date, which varies from a few months to several years after you open the account, depending on the term you choose. If you decide to withdraw the money before the term is up (maturity), you may have to […]