Ally raises savings APY to 1.15%

[audreyh1]

AmEx Personal Savings up to 1.15% today.

Wow - that was fast!!! They usually drag their feet.

 

[jetpack]

DollarSavingsDirect is at 1.40% now.

 

[mickeyd]

Like a "gas war" that we see from tome to time, looks as though we are into an "interest rate war" that we can benefit from for the time being.


Continue the battle.

 

[googily]

With AmEx's rise to 1.15%, Ally probably lost out on getting the bulk of my dough for this go-round, since it's taken them well over two weeks to open an online savings account for me as a new customer (and I still haven't gotten the mailed packet).

Though once I can finally access their interface, I can at least then compare.

 

[audreyh1]

Synchrony bank is at 1.15% also.

Synchrony upped it to 1.20% recently. I noticed the rate paid on my late July statement was 1.19%, so it must have been in the last month.

 

[splitwdw]

Barclays savings account has been 1.20% since July.

 

[RE2Boys]

Purepoint Financial upped their rate to 1.30%

 

[Henry Lili]

Ally has a no penalty 11 month CD at 1.5%. Only requirements are a 6 day waiting period before you can withdraw and when you do, you have to take the whole amount out. I parked a bunch split out into three CD s.

 

[googily]

Basic Ally savings up to 1.2% today.

 

[B0bL0blaw]

CIT Bank 1.3%

 

[Rosie]

CIT Bank 1.3%

Yup.

http://www.early-retirement.org/forums/f28/cit-bank-savings-1-30-100-promo-ends-9-8-a-88281.html

(It's just the $100 promo that ends on 9/8)

 

[audreyh1]

Basic Ally savings up to 1.2% today.

OK!

 

[audreyh1]

Wow - Synchrony is now at 1.3% for high yield savings!!!!

They must have just announced this because my 9/20 statement shows 1.2%, but my online account shows it's now 1.3%.

 

[mn54]

Yup.

http://www.early-retirement.org/forums/f28/cit-bank-savings-1-30-100-promo-ends-9-8-a-88281.html

(It's just the $100 promo that ends on 9/8)

they just raised their rate to 1.35%

 

[braumeister]

Nice!
My Discover bank account is still only 1.2%, but I'm sure they'll match this. Competition is a wonderful thing.

 

[Perryinva]

Open a new Discover Bank acount (new customer only) and deposit $20k by 11/15 and get a $200 interest bonus on 11/30.

 

[GalaxyBoy]

Wow, 1.3% deserves FOUR exclamation marks. Not disagreeing it's remarkable these days; I'm just thinking how low that is and yet we think of it as high. Everything's relative, I suppose.

 

[audreyh1]

Wow, 1.3% deserves FOUR exclamation marks. Not disagreeing it's remarkable these days; I'm just thinking how low that is and yet we think of it as high. Everything's relative, I suppose.

More of a reaction to how many time they've raised their rate this year and these last two were in very rapid succession.

 

[A Bird In Hand]

Discover Bank Savings promotion

Open a new Discover Bank acount (new customer only) and deposit $20k by 11/15 and get a $200 interest bonus on 11/30.

Thank you for mentioning this! I just realized our Capital One account has been paying a paltry 0.2% (was 0.75%) ever since our balance dropped below $50k several months ago. $200 each is a pretty sweet deal, and the 1.15% rate is a nice step up from Capital One's.

My wife and I both encountered the same issue when applying. We were told to call Discover customer service, and they said we needed to upload proof of identity/address, since we "must have moved recently". Except we haven't moved in 10 years. Annoyingly, Discover Bank can't check with Discover Credit to verify our address (we've had a Discover card for 15+ years).

After uploading pictures of our driver's licenses and a utility bill, the website said "If your application is approved, you will receive a welcome packet within 10 business days." Now I'm watching the calendar wondering if they'll actually open our accounts before 10/2, which is the cutoff date to receive the $200 bonus.

 

[Another Reader]

Synchrony Bank pays 1.3 percent and has been easy to deal with. Sallie Mae pays 1.3 percent on their money market account and has also been easy to deal with. The withdrawal rules are slightly different for money market accounts, but these accounts are FDIC insured as well.

 

[retired1]

Good to know !! Between Ally, Discover, and CapitalOne (a bit lower rate)... and maybe American Express (online)... they provide best saving rates.

 

[Another Reader]

Better rates can be found at depositaccounts.com. Best and most current list I have found.

 

[audreyh1]

Today I just noticed American Express FSB quoted at 1.25%.

They are moving up faster than they used to. They are above Ally Bank at the moment.

 

[braumeister]

Sticking with my 1.2% Discover Bank account for now.
Just too much trouble to switch and I've always had good service from Discover in the seven years since I opened it.

Isn't it about time for PenFed to give us an early holiday present of super CD rates?

 

[audreyh1]

Sticking with my 1.2% Discover Bank account for now.
Just too much trouble to switch and I've always had good service from Discover in the seven years since I opened it.

Isn't it about time for PenFed to give us an early holiday present of super CD rates?

I hope so (about PenFed CDs).

At this point, after years of very low brokerage money market rates, which aren't nearly so low anymore, I have ended up opening several high yield savings accounts. So I easily shuffle money around if I want.

But, I expect Ally and Discover to catch back up.

I am surprised with American Express FSB. They were consistently a laggard and while they are never at the very top, they seem to be catching up close to it more quickly this year.