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Ally Rate Drop

Wednesday, November 17, 2010 - 12:58 PMAlly Bank - Details
Ally Bank has dropped it's savings account rate to 1.14% from 1.19%
6
salamancasalamanca20 posts since
Jan 16, 2010
Rep Points: 96
1. Thursday, November 18, 2010 - 9:03 AM
Ally as of today cut savings account to 1.11%--one day after cutting to 1.14% (from 1.19%).

A penny saved soon may no longer be a penny earned.
2
JMJM7 posts since
Oct 17, 2010
Rep Points: 22
2. Thursday, November 18, 2010 - 1:36 PM
and now...1.10%
2
larkinlarkin65 posts since
Jun 18, 2010
Rep Points: 289
3. Friday, November 19, 2010 - 5:55 PM
...and cut on Friday, 11/19/2010, to 1.09%.

Ally started this week at 1.19%. Then 1.14%. Then 1.11%. Then 1.10%. Then 1.09%. All in one week.

Time to move money out of Ally.
2
JMJM7 posts since
Oct 17, 2010
Rep Points: 22
4. Friday, November 19, 2010 - 8:36 PM
Ally is rapidly losing its usefulness as a savings account. I will keep it around as a hub account (I opened the interest checking, which is an excellent hub because not only does it allow 20 ACH links, but it has unlimited transfers!) but I have pretty much drained my balance there and I don't expect to keep anything substantial there in the future.
4
jeremy33jeremy337 posts since
Oct 31, 2010
Rep Points: 25
5. Monday, February 21, 2011 - 5:12 PM
Noted on the banner ad Ally dropped savings and mm rates to 1.06/1.07% APY.

Happy Presidents Day all.
5
CraigPDCraigPD94 posts since
Jun 12, 2010
Rep Points: 335
6. Tuesday, February 22, 2011 - 7:04 PM
Ally as of Feb. 22 cut its savings and money-market-account rates to 1.05% APY, second cut this week.

Ally is getting less interesting by the day.

Wonder how long till Ally "breaks a buck" (adding a new definition to an old phrase from money market mutual fund land): That is, when Ally will slump below 1% on its misleadingly promoted "high yield" savings.
3
JMJM7 posts since
Oct 17, 2010
Rep Points: 22
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