Starting a New Savings Account

How to Open a Savings Account

Opening a savings account could not be easier. All you need is your social security number, some form of ID (a driver's license or a passport will do) and, if required, the minimum amount required by your bank for an initial deposit to start a savings account.

As with any other financial decision, be sure you're making an informed choice when you open a savings account.

Ally's Online Savings and Money Market accounts offer some of the best features available. Both accounts earn great interest rates that compound on a daily basis, there is no minimum deposit to open, and all deposits are FDIC-insured. Learn more about them and see which one works best for you.