Ally raises savings APY to 1.15%

[audreyh1]

Hmmm - maybe Synchrony will raise theirs to catch up.

 

[jollystomper]

OK - looks like Ally finally got up to 1.25% on their high yield savings account.

Must have just happened because my 10/15 statement still says 1.20%

Yes, my email says it is effective 10/30.

 

[jetpack]

DollarSavingsDirect is now at 1.5% !

 

[jonat]

CapitalOne at 1.30%. I'm regretting buying 9 and 12 month CDs at 1.25 and 1.3%. Won't make that mistake again.

 

[JohnnyBGoode]

CapitalOne at 1.30%. I'm regretting buying 9 and 12 month CDs at 1.25 and 1.3%. Won't make that mistake again.

Yeah, that is why I liked the "No-Penalty" 11 month CDs from Ally. They are running at 1.5% now and you can drop it at any time after the first 6 days with no penalty. With all the movement lately in the savings rates I hope/expect the CD rates at these online institutions should be feeling some upward pressure now.

 

[rayvt]

CapitalOne at 1.30%. I'm regretting buying 9 and 12 month CDs at 1.25 and 1.3%. Won't make that mistake again.

At these low rates, it's not really worthwhile to chase rates. In terms of actual dollars, there's not much difference between 1.15% and 1.25% or 1.50%.

All these banks adjust their rates continually, and they are always pretty much neck-and-neck. You can wind up moving your money from the old bank to the new one...just as the old one raises their rates to match or beat the new one.

It's not like any of them is paying a munificent 0.10% like your local brick&mortar bank.

 

[audreyh1]

CapitalOne at 1.30%. I'm regretting buying 9 and 12 month CDs at 1.25 and 1.3%. Won't make that mistake again.

That's a year or less, and you probably had those higher rates sooner, so does it really matter?

Personally I don't fret over a 0.05%-0.1% difference short term.

 

[jazz4cash]

That's a year or less, and you probably had those higher rates sooner, so does it really matter?

Personally I don't fret over a 0.05%-0.1% difference short term.

+1
Plus the savings rates could drop at any time.

 

[jonat]

I agree that .05 or .1 percent is noise. When I bought the CDs, CapitalOne (where I had my Money Market) was paying 1.1%. I've decided I prefer the higher liquidity of the MM account for cash-on-hand, though truth to tell I don't need the CD money in the short term and was just trying to park it somewhere better.

 

[audreyh1]

I agree that .05 or .1 percent is noise. When I bought the CDs, CapitalOne (where I had my Money Market) was paying 1.1%. I've decided I prefer the higher liquidity of the MM account for cash-on-hand, though truth to tell I don't need the CD money in the short term and was just trying to park it somewhere better.

So you got a higher rate for quite a while, and it's just now that the high yield savings accounts have surpassed your rates

 

[jazz4cash]

Just noticed GS Bank has 3yr CD @ 2%. Its higher than their 4 yr. When did this happen?

 

[googily]

AmEx Personal Savings went to 1.35% as of yesterday.

 

[freedomatlast]

Thanks for information on the Ally CD rates.

Just closed the 1.5% no penalty CD and transferred those funds to a new 1.6% no penalty CD.

Like the previous poster, they claimed they had to do a credit check to open a new CD. Since my credit is frozen due to the Equifax debacle, this would have been a problem. I then requested a supervisor who handled the transaction with no issues.

 

[explanade]

Has anyone used Capital One CDs?

 

[braumeister]

Discover Bank is now 1.30% as well.
1.35% for me since I opened it through AAII.

 

[jetpack]

Ally savings is up to 1.25% and their no penalty CD is 1.6%

https://secure.ally.com/#/products-and-rates/cd-products

 

[mickeyd]

Now that the FED has upped the rate to 1.5% look for all savings rates to creep up to this over the next few months. The PMMF is currently paying 1.24% the last time that I checked.

 

[kimcdougc]

Capital One 30 Money market savings account is 1.3% right now.

 

[kimcdougc]

Has anyone used Capital One CDs?

Yes, no problem at all working with Capital One. Been with them for years.

 

[audreyh1]

Thanks for information on the Ally CD rates.

Just closed the 1.5% no penalty CD and transferred those funds to a new 1.6% no penalty CD.

Like the previous poster, they claimed they had to do a credit check to open a new CD. Since my credit is frozen due to the Equifax debacle, this would have been a problem. I then requested a supervisor who handled the transaction with no issues.

I’ve run into credit checks for opening CDs. But I‘m surprised that one would be required if you already have an established relationship - and even if required they should already have access to your credit report as an existing customer. A freeze does not limit access by companies you already do business with.

 

[GrayHare]

The credit check is likely more an ID check than anything. Now that rates are up and cash is becoming more valuable again, is any bank really going to turn down your deposit because your credit score is too low / high / something?

 

[Winemaker]

Alliant Credit Union 1.5% 1 year CD. Renewed 2 $25,000 12/9/17

 

[nwsteve]

I’ve run into credit checks for opening CDs. But I‘m surprised that one would be required if you already have an established relationship - and even if required they should already have access to your credit report as an existing customer. A freeze does not limit access by companies you already do business with.

I just rolled our Ally Bank 1.5 no penalty CD to their 1.6 offer. The rep initially told me a credit check would be necessary. I told him he should check with his supervisor as I was pretty sure it did not apply to existing clients (already known to the institution). He did so and confirmed no credit check was required.

Depending on the experience of the rep you get, you may have to push back to avoid the credit check "hoop"

 

[DEC-1982]

Has anyone used Capital One CDs?

Yes, good experience so far.

 

[audreyh1]

Went to American Express Bank today - surprise - rate is raised to 1.35%

My brand new statement says I was paid 1.25% but that the new rate is 1.35%, so they must have just changed this.

They've leapfrogged Synchrony Bank with this new rate although Synchrony has been at 1.30% for quite a while. First time beating Synchrony in my experience. And no longer creeping up in increments of 0.05% either.