When opening a savings account, you should find out how the account's interest is calculated and whether it carries any hidden fees.

Your savings account questions may have answers that vary from bank to bank. How interest accrues is one example. Let's say that one local bank compounds interest daily, but does not credit it until the last day of each quarter. If you withdraw $1,000, say, a few days before that date, you will forfeit all interest earned during the quarter on that amount. Some banks compound interest monthly or even annually. Others compound interest daily.

With an Ally Online Savings Account, your interest compounds daily, meaning your money is constantly working for you at a great rate. And our accounts carry no monthly maintenance fees or other hidden costs that might undermine your savings goals.

Get more savings account help by calling live, 24/7 customer support at 877-247-ALLY (2559) today.

Read more about the range of benefits you get with an Ally Bank account.

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