Dedicated to Deposits: Deals, Data, and Discussion
Featured Savings Rates
Featured Accounts

Ally Bank Cuts Savings and Money Market Rate

Tuesday, February 9, 2010 - 5:37 PMAlly Bank - Details
The new rate for both accounts is now 1.44% APY (was 1.49%). The 2-year bump-up CD rate has also fallen. It's now 2.05% APY (was 2.09%). Refer to my Ally Bank review for the rate histories.

Ally Bank's 5-year CD rate is still 3.15% APY. Remember that the early withdrawal penalty is only 60 days of interest (see post).

Hat tip to reader for reporting this in the Open Discussion Thread.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
1. Wednesday, February 10, 2010 - 8:19 PM
I have a CD maturing in a couple weeks and just got a call from Ally offering a .5% interest rate bump if I renewed--I was able to select any term to add it too as well. This, combined with the small 60-day early withdrawal penalty turns into a pretty good deal. So folks who have CDs renewing soon may want to ask for the .5% bump, but who knows, perhaps they're targeting it to specific customers...
1
AnonymousAnonymous2,282 posts since
May 9, 2010
Rep Points: 3,922
2. Saturday, February 13, 2010 - 12:30 PM
Thanks for the info. Glad to read they're still offering the 0.50% interest rate bump. That along with the 60-day early withdrawal penalty makes for a great deal.
1
Ken TuminKen Tumin5,469 posts since
Nov 29, 2009
Rep Points: 125,077
Reply