Ally raises savings APY to 1.15%

[audreyh1]

You are correct if you use Ally to push $250 back to the same BOA account.

FYI...

Ally Bank Savings Account up to 1.35%
Ally Bank 12 month CD - 1.85%
Ally Bank 18 month CD - 1.95%

That’s interesting. Their 11 month no penalty CD dropped to 1.5% from 1.6%. End of year special had been 1.75%.

 

[jim584672]

US Treasury 2 year notes are at 2.06%, finally very competitive with CDs.

 

[Done]

Alliant Credit Union savings is now 1.45% APY.

 

[audreyh1]

US Treasury 2 year notes are at 2.06%, finally very competitive with CDs.

Up to 2.17% already and rising fast!

If this keeps up CD rates should rise quite a bit this year.

 

[Tadpole]

Just got a PenFed email this morning. These are their latest rates:
TERM DIVIDEND RATES APY
6 Month 1.30% 1.30%**
12 Month 1.85% 1.87%
15 Month 1.90% 1.92%
18 Month 1.95% 1.97%
2 Year 2.00% 2.02%
3 Year 2.05% 2.07%
4 Year 2.15% 2.17%
5 Year 2.40% 2.43%
7 Year 2.45% 2.48%

 

[audreyh1]

Oh wow - that’s a good jump in their 15 month. I think it was 1.70% when I looked last week.

 

[MBSC]

Ally Bank 12 month CD is up to 2.00% again. 9-month CD is 1.80%.

 

[Another Reader]

Ally's savings account is looking a bit anemic at 1.35 percent. Better rates from banks I use:

Live Oak 1.6
GS/Marcus 1.5
Barclays 1.5
Synchrony 1.45
Sallie Mae MM 1.45

The CD rates at Live Oak are excellent right now:

1 year 2.10
18 month 2.30
2 year 2.35

The 18 month CD at 2.3 to me has a decent balance of rate and term. Not enough premium to take the risk of two years.

I am annoyed at Fidelity's high expense ratios on their money market and settlement funds. Highway robbery compared to Vanguard. I have put a lot of the cash I will need over the next two years into laddered new issue brokered CD's and will just hold them to term.

 

[googily]

AmEx Personal Savings at 1.45 now too.

 

[mickeyd]

PMMF has been at the 1.45% range for a while. I suspect it will settle there until the FED raises it's rate to 1.75% next month or so.

 

[MBSC]

Ally Bank savings account up to 1.45%.

 

[copyright1997reloaded]

So, I have a number of CD's that will be maturing over the next two months. It will be interesting (given 2 year T-Note @ 2.13%) what CD rates will be towards the end of March (when the first one matures). Decisions, decisions.

 

[audreyh1]

Synchrony Bank raised their high yield savings rate to 1.5%

 

[audreyh1]

Ally just raised their high yield savings rate to 1.45%.

What's funny is their 11 month no penalty CD rate is down to 1.15%, 1.25% and 1.5% depending on the size of the opening deposit. No point in using that CD anymore. It was offered at 1.75% for $25K+ opening deposit at the end of last year.

But perhaps before too long they'll offer 2% on their 11 month no penalty CD. In the mean time, just park funds in the high-yield savings account!

 

[GalaxyBoy]

I think Ally's no-penalty CD was on a promotional rate at the end of last year.

 

[audreyh1]

I think Ally's no-penalty CD was on a promotional rate at the end of last year.

Of course it was. But then it dropped back to the “regular” rate of 1.6%, and now dropped farther to 1.5%.

 

[Pilot2013]

I am finding it interesting that there seems to be a major impact on psyche and the market due to "high interest rates"..... Really? High??

I can't see doing anything beyond a 1 year CD ladder with these still ridiculously low rates.Still just trying to get up to minimize inflation losses for cash holding IMO.

 

[azphage]

I just checked my Redneck Bank Mega MM, it is going up to 1.75% APY on Feb. 21 (up to $35,000). Plus the laughing donkey on the debit card really impresses waiters in Paris.

 

[retired1]

NFCU has 15 mo. special CD paying 2.25% upto $50k. Great Deal if you have NFCU

 

[GalaxyBoy]

Of course it was. But then it dropped back to the “regular” rate of 1.6%, and now dropped farther to 1.5%.

Ah! I see what you mean. I probably didn't scroll down the page at Ally.com far enough to see the no penalty rates.

 

[audreyh1]

Ah! I see what you mean. I probably didn't scroll down the page at Ally.com far enough to see the no penalty rates.

Most of the year the rates on the Ally no penalty CDs seem pitiful compared to savings. But they really spruce them up at the end of the year!

 

[jazz4cash]

GS Bank has 2.05% on 12 month CDs but doesn't offer IRAs.

 

[ExFlyBoy5]

I am in the process of opening a Ally 12 month CD for my Dad and dealing with the CSR folks has been...um, interesting. I am not sure where their CSRs operate from, but I am pretty sure it's a place that has legalized marijuana and that they allow the employees to smoke on the job. I am hoping that once it's funded, I won't have to deal with them "personally" anymore.

 

[Golden sunsets]

According to the following, Ally Bank recurring transfers take 3 business days and one-time transfers from "qualifying non-Ally Bank accounts" can generally be completed in one business day.

https://www.depositaccounts.com/blog/2016/10/ally-banks-deposit-agreement-changes-day-transfers.html

The actual Ally Bank Deposit Agreement mentions that new accounts may not immediately qualify for one day transfers (page 10): https://www.ally.com/docs/bank/deposit-agreement

This blog post provides more specific details on "qualifying".

"To qualify for the 1 day transfer At Ally Bank, you have to do at least one $250 transfer in and out of the external account and then it goes into effect 2 months after that is done…so ALL your transfer accounts can qualify for 1 day transfers if you follow that rule..."

MBSC; I just wanted to circle back to thank you for this valuable info. Today for the first time my transfers into or out of Ally are taking only 1 day.

 

[audreyh1]

American Express Bank is now offering 1.55%, so they moved up very recently and now match Synchrony bank. Ally Bank still lagging at 1.45%