Ally Bank Cuts Savings and Money Market Yield to 1.39% (was 1.44%)

This cut comes only after one week since the last rate cut. CD rates also went down. The 12-month CD rate is now 1.60% APY (was 1.64%)

Refer to my Ally review for more details and for rates histories.

Ally Bank still offers 3.15% APY on a 5-year CD. The nice feature of Ally's CDs is a very small early withdrawal penalty of only 60 days of interest. Refer to my Ally CD review for more details.