Savings Accounts

Money Market Accounts and the Economy

Liquidity refers to how easily you can buy or sell your investments, and financial professionals agree—no matter what's going on in the market, having a certain degree of investment liquidity is important. Indeed, that's one of the reasons people own money market funds. But with money you have in bank accounts like savings, checking, certificate […]

Savings Accounts

What You Should Know About High Interest Savings Accounts

Some banks offer what they call a “High Interest Savings Account” or some similarly named account, which is designed to earn a higher interest rate than their other savings accounts. In return, the bank will sometimes ask for a large minimum opening deposit, and you'll be subject to fees if your balance falls below a […]

Savings Accounts

Things to Consider

Money market funds (or MMFs), offered by brokerages, differ from money market accounts (or MMAs), so simply shopping for the highest money market rate isn't necessarily the best way to make smart financial decisions. Money market funds As a bank, Ally Bank doesn't offer money market funds, but we can give you some basic information […]

Savings Accounts

Weighing Your Savings Account Options

Many people like to set aside money in case of emergencies or to save for a major purchase, so finding the best savings account is important. Only you can determine what kind of savings account is right for you. It could mean one that offers a higher interest rate or requires no monthly minimum balance. […]

Savings Accounts

Choosing the Best Money Market Account

When shopping for the best money market account, here's why it might make sense to go with Ally Bank. The Ally Bank Money Market Account requires no minimum deposit to open and no monthly maintenance fees. Your deposits are insured by the FDIC up to the maximum amount allowed by law. And because we value […]

Savings Accounts

Opening a Savings Account

Opening a savings account can be a good financial decision. It provides you with a secure place to store your money for emergencies, future purchases or even retirement. Plus, savings accounts typically accrue interest over time. And if you open an online savings account like the one offered by Ally Bank, your interest rates may […]

Savings Accounts

Start Saving Money to Secure Your Financial Future

As a savings tool, compound interest is powerful. That’s because not only does it allow you to earn interest on your principal, but it also lets you earn interest on all the interest you’ve accumulated. So the earlier in life you start saving money, the more you can grow your savings. Your first step in […]

Savings Accounts

Savings Account: Top 5 Reasons Why You Should Have One

You might ask yourself, “Why have a savings account?” when there are so many financial options today. Savings accounts are a solid addition to your portfolio for many reasons. With a savings account, you can: 1. Save for the future.Having a healthy savings account is a good foundation for any financial plan. You can accumulate […]

Savings Accounts

Savings Accounts and Interest Rates

Why save money in a savings account? A savings account is simply a bank account that secures your money and usually pays interest on the funds in the account. A savings account is generally considered a safe place to grow your money. Deposits in your savings accounts at member-FDIC banks are insured by the Federal […]

Savings Accounts

The Money Market Account Advantage

No matter what's going on in the economy, money market accounts (MMAs) provide you with a sound choice when you want to earn a great interest rate and still have access to your funds. It's important to note that money market accounts (MMAs), offered by banks, are different from money market funds (MMFs), offered by […]