Ally.com is an online bank that I’ve personally experienced – and am satisfied with. Not mentioning their fabulous customer service, their bank rates are highly competitive and their banking structure is genuine.

Formally, GMAC Bank – Ally Banks‘ CD Rates, saving accounts, money market accounts and Jumbo CDs are all FDIC insured so our money is safe.  The limit is $250k right now and their reviews are impeccable for their customer service. I’ve been a member for about a year now, and I’ve been quite satisfied.

Ally.com Money Market Account Rates

My account with Ally.com is their Money Market Account, which pays 1.29% APY. Not only do I enjoy earning a high savings rate, but they sent me a check card, and personal checks for free.  There is really no going wrong with opening up a money market account with Ally, as there is no “fine” print.

  • Open with $0
  • No minimum balance
  • No monthly fees
  • Check card and first 50 checks are free
  • No ATM fees at any ATM
  • Daily compounded interest for maximum earnings
  • FDIC insured Maximize your coverage
  • Six transactions per statement cycle with no fees. Why only 6?
  • Your actual variable rate will go into effect when you make your opening deposit

Ally.com CD Rates

Ally.com’s has a competitive Certificate of Deposit offerings. With No Minimums, No Fees, FDIC insured, Daily Compounding, and their superior customer service.

As of July 9, 2010 their CD Rates are as follows:

  • 3 months CD at 0.69% APY
  • 6 months CD at 1.14% APY
  • 9 months CD at 1.00% APY
  • 12 months CD at 1.48% APY
  • 18 months CD at 1.64% APY
  • 3 years CD at 2.29% APY
  • 4 years CD at 2.49% APY
  • 5 years CD at 2.94% APY

Ally.com Online Savings Account

Ally.com’s High-Yield Savings account offers the same rate as their Money Market Account – 1.29% with the same features. But you can do online banking.

  • Open with $0
  • No minimum balance
  • No monthly fees
  • Daily compounded interest for maximum earnings
  • FDIC insured Maximize your coverage
  • Six transactions per statement cycle with no fees.  Why only 6?
  • Your actual variable rate will go into effect when you make your opening deposit
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