Although there are many savings options out there, a savings account in a bank insured by the Federal Deposit Insurance Corporation (FDIC) can be a good place to park money for future purchases or emergencies.
One benefit of a bank savings account is quick access to your money. You can make as many deposits as you like as often as you like and withdraw your money when you need it (within federal transaction limits). Another advantage of bank savings accounts is they often can be tied to a checking account at the same bank, allowing you to move money easily from one to the other.
Savings accounts at online banks often offer higher rates than their brick-and-mortar counterparts, which can help your balance grow faster. The Ally Bank Online Savings Account offers some of the most competitive interest rates in the country. You can open and fund your account with any amount and there are no monthly maintenance fees.
Learn more about all our savings options at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.