Ally Bank

Ally Bank

P.O. Box 951
PA 19044

Deposit Rates APY Vs.Others
Savings 1.10% 1.40% →
1-Year CD 1.00% 1.15% →
2-Year CD 1.00% 1.26% →
3-Year CD 1.05% 1.26% →
4-Year CD 1.00% 1.31% →
5-Year CD 1.15% 1.60% →

2020 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 $167.49 billion in assets.

Deposits FDIC Insured Yes
Insured Bank Ally Bank
FDIC Certificate # 57803
Date Established 2004
Assets $167.49 billion
Loans $122.66 billion
Deposits $122.96 billion
Capital $16.95 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 - July 6, 2020

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
1.10% $0 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
3 Month CD
0.50% $25,000 - Learn More
6 Month CD
0.65% $25,000 - Learn More
9 Month CD
0.75% $25,000 - Learn More
11 Month CD No Penalty
0.95% $25,000 - Learn More
1 Year CD
1.00% $25,000 - Learn More
18 Month CD
1.05% $25,000 - Learn More
2 Year "Raise Your Rate" CD
1.00% $0 - Learn More
3 Year CD
1.05% $25,000 - Learn More
4 Year "Raise Your Rate" CD
1.00% $0 - Learn More
5 year CD
1.15% $25,000 - Learn More

Bank Offers

Ally Bank raises its online savings rate
Jun 29, 2018

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
Aug 3, 2018

Ally Bank raised its savings rate this morning to 1.80% on all balances.   Ally also raised its 11-Month No Penalty CD rate to 2.00% on balances over $25,000.   You can find a complete list of rates and offerings from Ally here or compare all online savings rates here.

Ally Raises Online Savings Rate to 1.90%
Oct 5, 2018

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%
Aug 11, 2019

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%
Oct 9, 2019

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
Nov 13, 2019

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%
Dec 21, 2019

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%
Mar 13, 2020

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
Jun 11, 2020

Savings rates continue to fall.

Customer Reviews for Ally Bank (53)

  • April 28, 2020 |

    Online CDs 12 Month Rates

    Ally Bank does not set a minimum deposit for it's one year CD product.

  • April 02, 2019

    I have used online banking with Ally for 8+ years after being disgusted with brick and mortar bank rates. I currently have CDs and online savings. Online banking with Ally is easy and their rates are always competitive. I will be an Ally customer for many more years!

  • March 23, 2019 |

    Online Savings Rates

    This bank spend years advertising that they would never treat their old customers better than their new ones. Then they suddenly starting giving new customers a 1% bonus. Hypocritical? You bet.

  • February 26, 2019 |

    I have nothing but praises for this agency! They are quite careful to verify that your identity is not compromised! Even with phone contact, I have found them friendly and quite knowledgeable. This is the second time I have re-invested funds with them and they actually accumulate the interests funds you expect. Thanks YOU!

  • January 11, 2019 |

    Online CDs 12 Month Rates

    You can basically do everything online via their easy-to-use website. I closed a CD and added the proceeds to another CD (within the 10-day grace period) in under five minutes. I have other online bank accounts but Ally is the best!

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