What is a savings account? George Barany, director of financial education at AmericaSaves.org, a non-profit organization that promotes saving, explains a savings account this way: “It's a safe place that allows you to get money out of your pocket, out of your house,” and beyond the greedy reach of temptation. Interest savings accounts are not get-rich-quick (or even get-rich-slow) vehicles. They're low-risk accounts that allow you to grow your savings at a rate specified by your financial institution. Savings accounts are designed to provide you with an easy way to access interest-bearing funds. By contrast, a CD is only accessible at term maturity.
At Ally Bank, we compound interest daily to help your savings grow. We are committed to making saving as easy, secure, and rewarding as it can be. Learn more by visiting Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.