By MyBankTracker  Updated on Mon Jan 28, 2013

Ally Bank Drops Rates on Savings, Money Market Accounts

Ally Bank has cut the interest for its online savings accounts, online IRA savings account and money market account from 0.95% APY to 0.90% APY.

While customers won’t be happy with the rate cut, the interest rates are still highly competitive — edging out a majority of the online savings accounts.

For customers of other online banks, Ally’s rate change may foretell of what’s to come to their savings and money market rates.

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