You do not need … 19 comments. 70% Upvoted. Meanwhile, the lower 0.10% APY rate tier on Ally Bank’s Interest Checking account, which applies to balances less than $15,000, earns less than the national average. 0.03%. The bank was chosen for its competitive annual percentage yield (APY) and no monthly maintenance fees or minimum balance requirement. Betterment has disrupted the traditional financial advisor industry in a major way. You can open this account with as little as $0 with no minimum balance. ATMs. Ally Bank is an online-only bank offering competitive deposit accounts and other financial services. Minimum Balance to Earn APY. (See my rate chaser calculator). Once your Ally Bank savings account is open, you can set up buckets to organize your savings and deposit certain amounts towards items like home … $10 $5,000. Want to Review More? Ally and Synchrony can earn you more interest than you'd get with a traditional bank. New comments cannot be posted and votes cannot be cast. Let’s go through the important factors. MIDVALE, Utah, Jan. 9, 2017 /PRNewswire/ -- Ally Bank, the direct banking subsidiary of Ally Financial Inc. (NYSE: ALLY), has been named the Best Online Bank of 2017 in GOBankingRates' fifth annual rankings. iOS App Rating. This thread is archived . APY. Ally Bank CD Rates . One of Ally Bank checking account's main strengths is the high-interest rate offered to customers. 0.00% 0.10%. I recently opened an Ally Bank Interest Checking Account. Unlike the Ally Bank savings rate, which is applied to all tiers of deposits in an Ally savings account, Chase Bank has different interest rates for different Chase Plus savings account balances. Ally Bank boasts a wide shelf of trophies, including best bank and best online bank awards from organizations such as MONEY Magazine and Kiplinger’s. Not impressed by it at all and thinking of moving to Ally. Annual Percentage Yield (APY) accurate as of 01/19/2021. Apply Now. And you can use any ATM for free because Ally charges no … Find out why in our in-depth review. User Interface. No balance requirements – None of Ally’s bank accounts have minimum balance requirements. Monthly Fees. Your money earns money with interest compounded daily. Compare the online banks to see which could be best for your money. What should I look out for? Schwab. Annual Percentage Yield (APY) accurate as of 01/19/2021. The bank rebranded in 2009 as Ally Bank, a straight-talking online bank. Sort by. Of course, there is no perfect banking option. Similar to how Ally bank got started with auto loans, these companies often dominate one product and then expand elsewhere. No minimum balance. There is no minimum balance required to open a checking account or savings account with Ally. best. 24/7 customer service. 4.2. Ally's high-yield savings account offers a competitive APY with no required initial deposit or minimum account balance, and there are no monthly fees. Their interest rates may not be the absolute highest, but they have consistently been within 0.10% of the temporarily top banks, making it not worthwhile to move my money. Ally pays a 0.10% APY for account balances under $15,000, and 0.25% for balances over $15,000. APY 1. Here's a look at the bank's different account types, features and rates. On the other hand, Ally Bank offers high interest rates on their savings as well as … Find the Best High Yield Saving Account. Open an account in under 3 minutes—right now, wherever you are, on any device! Get free standard checks with your Ally checking account. $0. For comparison my current account has a $200 minimum balance and a .05% APY. Ally Bank offers one checking account. This Internet bank won't charge you monthly maintenance fees or require you to keep a minimum balance. The minimum balance to open a Ally Bank Online Savings Account is $0. share. Ally Bank’s MMA earns either 0.50% or 0.50% APY, depending on your balance, while Synchrony offers 0.50% APY on all money market balances. The Ally Interest Checking Account is one example of a great checking account from an online bank that comes with an above-average APY that's up to … Ally Bank waives ATM fees at Allpoint ATMs nationwide too. report. Ally Bank has been around for over a century — but you probably didn’t hear about it until the last decade. Sign in or enroll to access Ally Online for bank or invest products - accessible on desktop, tablet or mobile devices with your Username and Password. They don't have any brick and mortar costs since they're an online bank. $0. As of this writing, Ally Bank will pay a 0.1% APY on checking accounts with less than a $15k minimum daily balance. Better yet, Ally’s online saving account compounds interest daily, so you end up getting a better bang for your buck. Ally’s roots go back to 1919 when it started out as GMAC, the finance arm of automaker GM. … In this Ally Bank review, we will ... With no monthly fees and a $0 minimum balance requirement, this saving account is well suited to meet your financial needs. $0. Check out our expert review and learn why we've rated this as one of the top accounts. You get free checks and a free debit card after you make an initial deposit. This account has no minimum balance requirement and provides you with unrestricted access to your money. save. Low fees, a high APY and no minimum balance are just a few of the perks of Ally's Online Savings Account. Neither bank charges excessive fees — no account maintenance fees or minimum balance fees, for example. Here's everything you need to know about its minimum balances, fees and perks. You also don’t need to keep a balance to retain the account. CD Rates > Apply Online. Virtually unlimited . level 1. If keeping fees low (or avoiding them entirely) is a top priority, you can’t go wrong with Simple or Ally. Ally Bank Products Ally Bank's line of banking products includes checking, savings, CD and money market accounts. Interest savings are deposited into your savings account each month. Ally Bank’s Key Features and Services. You can’t withdraw cash at ATMs. With jaw-dropping APYs, minimal fees, and no account minimums, Ally Bank is one of our experts' favorite online banks. Ally Bank does not charge account maintenance fees and no minimum balance is required to open. Monthly Fees. 6 years ago. There is no minimum balance or opening deposit. In addition to requiring no minimum account balances, Ally also has zero monthly maintenance fees. They offer different types of banking services depending on your needs – from personal checking to investment options like CDs. Ally Bank Online Savings Account is a convenient, on-the-go banking option. Variable interest rates. Ally Premium Bank Current Account is a transactional account that allows you the freedom to manage your money the way you desire. These fees are relatively common at traditional banks, though fees and amounts will vary depending on which bank or credit union you choose. But if you maintain that minimum balance, you’ll be able to earn interest as well as enjoy the cash back perks. You’re Looking for Lucrative Savings Options. But in 2009, the company rebranded as Ally Bank, an online-only banking institution that offers everything from checking and savings accounts to home and auto loans to investment accounts. The Ally Online Savings Account has no minimum balance, no monthly fees, and currently pays 1.45% APY (as of 4/2/18). There’s no minimum deposit to make, no monthly maintenance fees and no minimum balance requirements. No minimum deposit or balance requirements. Ally Bank Online Savings Account Account Minimums; Description; APY Minimum Balance: $1: Minimum Initial Deposit: $0: Minimum Combined Balance to Avoid Monthly Fee: $0: Minimum Required Balance: N/A: Minimum Account Transfer to Avoid Monthly Fee : N/A: Minimum Direct Deposit to Avoid Monthly Fee: $0: Minimum Balance … The Betterment robo-advisor is their original claim to fame. No debit card or ATM access. Android App Rating. No minimum balance requirements. Earns interest with your checking account, and your rate increases with a daily balance of $15,000 or more. No monthly maintenance fees. Interest Rate. Free checks. $10/mo None Looking for personal CD rates? These rates are better than the national average checking account rate of 0.04% . And the bank charges limited fees. Check out its latest awards here. There are no monthly fees. For this premium plan, you will need a minimum balance of $100,000. As noted above, Synchrony doesn’t offer a checking account. But you’re looking for a convenient, one-stop-shop for all your online banking needs, then Ally is an excellent choice for you to consider. Minimum Deposit. There’s plenty to like about Ally Bank: Great APY for savings accounts. Checking accounts that hold over $15k will be paid 0.6% APY. Never worry about maintaining a minimum monthly balance. Ally charges no minimum balance fees and no monthly maintenance fees. There are no ATM fees, and if you do get charged an ATM fee they will reimburse you. TD Bank is located on the East Coast with 1,300 locations offering low minimum balance requirements as well as extending banking hours with a 24/7 customer service by phone. Minimum Balance. Some accounts may have balance requirements to earn a … Ally customer representatives are always available. However, even the highest interest rate (offered to account holders with a balance of $1,000,000 or over is only 0.06 percent – still less than the amount Ally online savings offers. 4.8. 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