If you're like most people, you maintain your regular checking and savings accounts separate from any investments you have. But in addition to these basic pillars of your financial strategy, consider another component. An online savings account could be a useful addition to your regular savings, checking and investments. Online banks will often offer more competitive rates than brick-and-mortar banks according to rates published by Bankrate.com. This can help you beat inflation while maintaining a certain amount of flexibility with your cash.

At Ally Bank, for example, you can open and fund an Online Savings Account with any amount and earn a rate that’s among the most competitive interest rates in the country. We don't charge monthly maintenance fees and your deposits come with the security of being insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount allowed by law. Plus, we compound interest daily to maximize your earnings.

One of the benefits of keeping some of your funds in savings in an online account is having financial flexibility with your cash. You can set aside a specific dollar amount you want to have in there, or use a guideline such as three to six months of living expenses. Not only can this money be used for emergencies, but it also might be handy if you come across a financial opportunity that you need to act on quickly. If all your money is tied up, you could find yourself lacking the cash you need when you need it.

Whatever your savings goals, Ally Bank has a way to help you get there—from Online Savings Accounts and Money Market Accounts to a full range of certificates of deposit (CDs)—all at some of the most competitive interest rates available. Visit Allybank.com or call live, 24/7 customer service at 877-247-ALLY (2559) today.

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