Ally Bank
P.O. Box 951
PA 19044
2023 Overview
General Online Bank Information
Money that you deposit is held by Ally Bank. Ally Bank is an FDIC insured institution founded in 2004. It has approximately $175.81 billion in assets.| Deposits FDIC Insured | Yes |
| Insured Bank | Ally Bank |
| FDIC Certificate # | 57803 |
| Date Established | 2004 |
| Assets | $175.81 billion |
| Loans | $125.44 billion |
| Deposits | $142.59 billion |
| Capital | $14.62 billion |
For a more detailed analysis of Ally Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.
Deposit Rates - January 28, 2023
| Online Savings and Money Market Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| Online Savings Account
|
3.30% | $0 | - |
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|
| Online CD Rates | APY | MIN | MAX | |
|---|---|---|---|---|
| 6 Month CD
|
3.40% | $25,000 | - |
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|
| 11 Month CD No Penalty
|
3.85% | $25,000 | - |
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|
| 1 Year CD
|
4.25% | $25,000 | - |
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|
| 18 Month CD
|
4.25% | $25,000 | - |
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|
| 2 Year "Raise Your Rate" CD
|
3.30% | $0 | - |
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|
| 3 Year CD
|
4.35% | $25,000 | - |
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|
| 4 Year "Raise Your Rate" CD
|
3.30% | $0 | - |
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|
| 5 year CD
|
4.35% | $25,000 | - |
Learn More
|
Bank Offers
Ally Bank raises its online savings rate
Ally Bank has raised its online savings rate to 1.75%. The complete list of the best savings and money market rates is here. Ally Bank has also raised some of its CD offerings, including its 2-year and 4-year "Raise Your Rate" CDs to 2.50% on balances over $25,000. Ally's new rate on its 11-month no penalty CD is now 1.85% on balances over $25,000. All of Ally's rates are listed here.
Ally Raises Savings and 11-Month No Penalty CD rates
Ally Raises Online Savings Rate to 1.90%
Ally Bank has raised its online savings rate to 1.90% on all balances. Those with more than $25,000 to deposit will find Ally's 11-Month No Penalty CD at 2.10% to be more compelling.
Ally Drops Its 11-Month No Penalty CD Rate to 2.20%
Ally has dropped its 11-Month No Penalty CD rate to 2.20%. The product, which BestCashCow had strongly recommended while the rate stood at 2.30% APY, has a $25,000 minimum deposit requirement. See all special term CDs here.
Ally Reduces Savings Rate From 1.90% to 1.80%
Ally has lowered its savings rate, yet again, in anticipation of further Fed Funds rate decreases later this year.
Once Again Ally Lowers Savings Rates
Ally Bank has lowered its savings rate to 1.70% from 1.80%. Ally seems intent to become less competitive for your money.
Ally Lowers Online Savings Rate to 1.60%
Ally has lowered its savings rate to a decidedly uncompetitive 1.60% APY. A better bet is its 11-month No Penalty CD which is now 1.85% APY.
Ally Lowers Online Savings Rate to 1.50%
Ally Bank has lowered its online savings rate by 10 basis points today.
Ally's Online Savings Rate Lowered from 1.25 to 1.10% APY
Savings rates continue to fall.
Ally Lowers Online Savings Rate to 1.00% APY
Ally has lowered its online savings rate 1.00% APY.
Ally Lowers Its Online Savings Rate to 0.80% APY
Ally has lowered its owline savings rate today from 1.00 to 0.80% APY.
Ally Lowers Online Savings Rate to 0.60% APY
Ally has lowered its online savings rate from 0.80% APY to 0.60% APY.
Ally's Online Savings Account Rate Lowered from 0.60 to 0.50% APY
Ally's OSA rate keeps falling.
Ally Raises Online Savings Rate to 1.75% APY
Ally has raised its online savings rate to 1.75% APY from 1.60%.
Ally Raises Online Savings Rate to 1.85% APY; No Penalty CD is Still at 2.00% APY
Ally has raised its online savings rate by 10 bps.
Ally Raises Online Savings Rate to 2.00% APY
Ally has raised its online savings rate to 2.00%, effective September 2, 2022.
Climate Initiatives
Ally Bank is encouraged to provide us with this information. When we receive this information from the online bank, we will provide it here.
Customer Reviews for Ally Bank (57)
yesiam
August 16, 2022 |
ally is still the gold standard in online banking, but the rate needs to get more competitive and the wait to speak to someone on the phone is just ridiculous.
Is this review helpful? Yes:4 / No: 0
JC
November 5, 2021 |
I opened an interest checking account with Ally after reading all the glowing comments online. My first experience with Ally was anything but glowing. The customer rep tried to charge me $15 for a debit card. When I challenged him on the charge and told him debit cards were free he backtracked and told me the charge was for expedited shipping. After I told him several times to use free standard delivery, even if it was by Pony Express, I still received my debit card via expedited delivery and was charged $15. I eventually received a refund after calling customer service to complain. This never should have happened in the first place. I guess the moral of my story is never believe everything you read.
Is this review helpful? Yes:5 / No: 0
JBMoney
September 8, 2020 | | Replies 1
I have been a customer for years and have never had a bad experience. These days I really appreciate how they are keeping their savings rates competitive. .8% is lousy, but it is very competitive.
Is this review helpful? Yes:3 / No: 2
EduardoC | Jan 28, 2023
"keeping their savings rate competitive" - they aren't.
HRoss1957
July 19, 2020 |
The 11 month no penalty cd is an obvious choice here. You are guaranteed a rate over that time and have free access to your money. Plus, they gave me a 5% bonus for being a long time customer (call them) and that made the rate the same as the savings rate today. CON: Hold times to reach a representative on the phone are too long!
Is this review helpful? Yes:5 / No: 0
Savvysaver
April 28, 2020 |
Ally Bank does not set a minimum deposit for it's one year CD product.
Is this review helpful? Yes:3 / No: 0
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