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 | |
|---|---|
Ally Bank  |
0.84%
Date: Feb 6, 2012
|
| Highest Rates Recent Rate Changes | |
| Houston Police Credit Union Savings Account |
2.02%
Date: Jan 26, 2012
|
| Garden City Teachers Credit Union Savings Account |
2.00%
Date: Feb 8, 2012
|
| Twinstar Credit Union Savings Account |
1.60%
Date: Jan 30, 2012
|
| Zions First National Bank Savings Account |
0.75% to
0.70% Date: Feb 8, 2012
|
| Waterbury Firefighters Credit Union Savings Account |
0.55% to
0.70% Date: Feb 8, 2012
|
| Habib American Bank Savings Account |
0.75% to
0.65% Date: Feb 8, 2012
|