Online banking has become quite popular for its convenience and efficiency. While many banks offer some type of online access, online banks like Ally Bank are worth your consideration. Online banks don’t have the overhead of traditional banks and can pass that savings on to you in the form of great rates. The Ally Bank Online Savings Account, for example, offers among the most competitive rates in the country according to Bankrate.com.

Along with online convenience, the best online savings account will also have secure procedures in place for customers' protection. Banks employ a set of login procedures that involve choosing a password as an additional safety measure. Ally Bank uses an array of security measures to ensure your online safety, and you can count on the Ally Bank Online Banking Security Guarantee.

Banks generally offer the following three savings products:

  • Savings accounts are the simplest among the bunch. The Ally Bank Online Savings Account, for example, is a great solution when you just want a safe place to keep your money that's also easy to access if you need it.
  • Certificates of deposit (CDs) typically earn some of the best interest rates among the different options because you agree to keep your money deposited for a specified time period (maturity date) in exchange for a better interest rate than you may be able to get with other accounts. The only downside could be paying an early withdrawal penalty if you need the money before the CD matures. Some banks, including Ally Bank, offer a "no-penalty CD" option. The Ally Bank No Penalty CD allows you to withdraw all your money, including interest earned, without penalty, any time after the first six days following the date you fund your CD.
  • Money market accounts give you greater access to your funds than savings accounts. When you choose the Ally Bank Money Market Account, you get a variable rate that's consistently among the most competitive in the country according to Bankrate.com, with no monthly maintenance fees. You get free standard checks and a debit card for convenient access to your money. You can use any Allpoint no-fee ATM—plus receive up to $10 reimbursement for fees charged at other ATMs nationwide each statement cycle.

Ultimately, the best savings account is the one that fits your own financial goals, from a bank you trust. Ally Bank is committed to making online banking as easy, secure and rewarding as it can be. Learn more at Allybank.com or call live, 24/7 customer support at 877-247-ALLY (2559) today.

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