Are you a resident of PA looking for a bank that provides a high yield savings rate? Ally Bank is offering a high yield savings rate of 2.25%APY.
You can avail of this high yield savings rate by opening an online savings account with Ally Bank. Opening the account will not cost you anything since you can open it with nothing. The bank will only apply the actual variable rate into your online savings account once you make your opening deposit.
There is no minimum balance required and no monthly fees. Interests are also compounded daily to maximize your earnings. However, you are limited to only 6 withdrawals or transfers per statement cycle. This is because federal law sets the limit to only six for electronic and telephone transactions for all U.S. savings accounts.
The APY is accurate as of May 15, 2009. Deposits with Ally Bank should be safe as the bank is FDIC insured.
Ally Bank online savings rate update: Ally Bank high yield savings rate is down by 0.25%APY. Rate now is 2.00%APY.
Update August 28, 2009:
Ally Bank online high yield savings is down by 0.25%APY or 1.75%APY.
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