Ally Raises Interest Rates for Savings Products


Updated on Fri Aug 31, 2012

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.

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