Complaints to the ABA about Ally Bank's "irresponsibly" high CD and savings account rates, led to a reduction in their advertised rates; however, they are still offering one of the highest rates available on a savings account. The current rate is 2.05%, which is down .20%. Not a huge number, but overtime, could add up. For instance, a $10,000 deposit with 2.25% interest for 1 year, is $225, $20 more than the 2.05%. With compounded interest, over 10 years, you'll have $242 more dollars at the 2.25% savings account rate - that's enough to buy the new iPhone 3G S, which was announced this week (or whatever the latest gadget will be in 10 years).
Best Savings Account Rates
| Featured Rate | |
|---|---|
|
Discover Bank |
1.35%
Date: Mar 11, 2010
|
| Highest Rates Recent Rate Changes | |
| First Entertainment Credit Union Savings Account |
7.00%
Date: Feb 8, 2010
|
| Main Line Health Employees Credit Union Savings Account |
5.12%
Date: Feb 8, 2010
|
| Suburban Bank & Trust Company Savings Account |
4.02%
Date: Feb 8, 2010
|
| Fifth District Savings Bank Savings Account |
0.50% to
0.50% Date: Mar 12, 2010
|
| Dva Credit Union Savings Account |
0.50% to
0.50% Date: Mar 12, 2010
|
| First Choice Community Credit Union Savings Account |
1.10% to
1.10% Date: Mar 12, 2010
|