Ally raised the APY on three of its online savings accounts on Friday. Its Online Savings IRA, Money Market Account and Online Savings Account all yield 0.95% APY now. Before they had all yielded 0.89%. It’s just a 6 basis point kick, but at least it’s going in the right direction.
It isn’t easy to find a savings rate that provides returns above inflation. Online banks like Ally offer higher rates than brick-and-mortar banks do, typically. Check out our rate tables for more of the best savings accounts available right now.