Ally Bank Review.



Ally Bank Review

Who is Ally Bank: Ally Bank is built on the foundation of GMAC financial services: in mid-May, GMAC Bank changed its name to Ally Bank.

Safety: Ally Bank is one of the best capitalized banks in the country. All Ally accounts are insured by the FDIC up to $250,000 per depositor. Because of that, we see no reasons to worry about money deposited into Ally Bank.

Interest Rates: Ally Bank offers some of the highest rates in the industry on CDs and savings accounts. Money Market account rates are lower than, for example, UFBDirect's. All accounts have no monthly fees, no minimum deposits, and no minimum balances. Ally also offers No Penalty CD that lets you withdraw your money if you need to.

Customer Service: We and other customers are generally very happy with customer service in Ally Bank.


Ally Bank CDs interest rates and account details

  • 1.25% APY rate for 3 months CD.
  • 1.65% APY rate for 6 months CD.
  • 1.60% APY rate for 9 months CD.
  • 1.85% APY rate for 9 months No Penalty CD (the only one offered right now).
  • 2.05% APY rate for 12 months CD.
  • 2.05% APY rate for 18 months CD.
  • 2.35% APY rate for 24 months CD.
  • 2.75% APY rate for 36 months CD.
  • 3.40% APY rate for 60 months CD.
  • Open with $0.
  • No monthly fees.
  • Daily compounded interest for maximum earnings.
  • FDIC insured.
  • Automatic renewal at maturity.
  • Ability to withdraw and receive earned interest as income.

Certificates of deposit summary
Best rates on 6, 12, 24, 36 months CD and very good 1.85% APY rate for 9 months No Penalty CD. Ally Bank holds the top spot in "Best CD Accounts" ranking.

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Ally Bank Savings Account interest rate and details
  • 1.80% APY.
  • No monthly fees.
  • Open with $0.
  • No minimum balance.
  • Daily compounded interest for maximum earnings.
  • Six withdrawals or transfers per statement cycle.
  • Manage your account online.
  • FDIC insured up to $250,000 per depositor.

Savings account summary
Great 1.75% APY rate, no fees and no minimum balance requirements, give Ally's high yield savings account the top spot in "Best Savings Accounts" ranking.

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Ally Bank


Ally Bank Money Market interest rate and account details
  • 1.70% APY.
  • No monthly fees.
  • No minimums.
  • Check card and first 50 checks are free.
  • 6 withdrawals and transfers per statement cycle.
  • $6/month in ATM fees rebates.
  • FDIC insured up to $250,000 per depositor.

Account Summary
Ally Bank offers very customer friendly no minimums, no fees money market account with great 1.70% APY! Very nice $6 of monthly ATM fee rebates and free checks sweeten the deal.

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Ally Bank



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