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 […]

Money Market

What Is a Money Market Account?

A money market account is essentially a type of savings account that you can open at nearly any bank. And because most banks—including Ally Bank—are members of the Federal Deposit Insurance Corporation (FDIC), deposits in most money market accounts come with the peace of mind of being insured by the FDIC to the maximum allowed […]

Money Market

A Money Market Account Might Not Be the Obvious Choice for You – Yet.

If you already have a checking account and a traditional savings account, not to mention a certificate of deposit (CD) or two, you may be thinking, "That's good enough for me. Why should I be looking at a money market account?" Depending on your financial goals, of course, a money market account may not be […]

Money Market

Whatever Your Goals, There’s a Lot to Love About Saving With Ally Bank

Short-Term Money Market Perspective When you put together a financial plan, you usually will have both long- and short-term goals you try to meet. Money market accounts may be able to help you accomplish both. Short-term goals Financial planners often suggest money market accounts for things like vacation or holiday accounts, or for one-time goals […]

Money Market

What Kind of Savings Product Is a Money Market Account? Short-Term, Long-term, or Something Else?

Everyone has (or should have) both short- and long-term financial needs and goals. You need to pay this month's bills; you need to cover this year's property taxes; you want to build wealth for retirement. And sometimes you feel like you're pulled in different directions. So where do money market accounts fit into this balancing […]

Money Market

Three Smart Reasons to Open an Online Money Market Account

Although they still vary widely, bank account interest rates—money market account rates, more specifically—tend to be more competitive when you choose an online bank. And while all kinds of savings accounts may good for your fiscal health, money market accounts offer you three significant advantages to help you start saving money today: FDIC insurance. At […]

Money Market

5 Things You Should Look for in Money Market Deposit Accounts

Once you've decided to open a money market deposit account, experts suggest keeping these five factors in mind: Interest rate. "Look for savings or money market deposit accounts with the highest interest rate you can find," Michael Hardy, a Certified Financial Planner® and a partner at Mollot & Hardy in New York, says. He added, […]

Money Market

The Best Money Market Rates: 5 Things to Look For Once You Find Them.

What's the difference between one money market account and the next? Essentially, money market accounts sometimes offer a higher rate of return than traditional savings accounts, are low-risk and offer flexible access. To make sure you're choosing the best money market rates and the best account for you, here are five things you should look […]

Money Market

It’s Never a Bad Time to Consider an Ally Bank Money Market Account

When should you consider a money market account for your savings? That depends on your own financial plan more than what’s going on in the economy as a whole. Part of your financial plan may include setting aside a cash reserve for unforeseen expenses, or setting aside savings for specific goals, including one-time or recurring […]

Money Market

The Common (Financial) Sense of Money Market Accounts

Money market accounts may not be as well-known as traditional savings and checking accounts. But many personal finance experts consider opening a money market account an integral part of a smart financial plan. Money market accounts are bank accounts that usually pay interest rates comparable to the rates of paid by savings accounts. The difference […]