Average savings account interest rates may be lower than many people would like, but that just means it’s more important than ever to get the right savings account for your financial goals. You want to look for the highest rate you can get, of course, but you don’t want unnecessary fees that eat away at your returns or restrictions that make the account inconvenient to use.

Websites like Bankrate.com allow you to compare several banks’ rates side by side. With a little research, you generally will find that online banks are likely to beat the national average savings account rates. The reason is that unlike their brick-and-mortar counterparts, online banks generally don't have the overhead expenses associated with running physical locations. As a result, the banks can pass along that savings to customers in the form of competitive rates.

At Ally Bank, our Online Savings Account offers some of the most competitive rates in the country and we don’t charge monthly maintenance fees. You can open and fund an account with any amount. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.

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