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Best Banks Rates from Ally Bank

by noahldiaz on Feb 22, 2011

Ally Bank is a business unit of Ally Financial the leaders in automotive financial services worldwide. Ally financial services is officially preferred source of financing for General Motors, Chrysler, Saab, and Thor Industries

This is an Ally Bank rates update for February 2011. While they do not handle mortgage loans, they do offer their customers CDs, savings, and checking accounts. For those that are unaware of it, this is the new name for the old GMAC Bank.

The current bank rates on the certificates of deposit include the special Raise Your Rate CD that is a 2 year term. The APY is currently at 1.50%, and can be increased once during the term of the CD.

There is also the No Penalty CD that is earning an APY of 1.20% for an 11 month term.

The online Savings Account is currently earning an APY of 1.09%. The Money Market Account is also earning an APY of 1.09%

The Interest Checking Account is earning an APY of 0.50%...Read More >>



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Best Banks Rates in comparison to Money Market Accounts

by noahldiaz

First the similarities between them include that both of these investment types are earning at or below 1% APY on most of their accounts. You can obtain an APY on a CD, but your term will have to be at minimum 5 years in most instances. There are exceptions, but that is not the average.

At the beginning of March 2011 the average money market account for deposit below $10,000 was at an APY of 0.67%. For a certificate of deposit, the 1 year CD is earning on average 0.98% APY. Both types of accounts have their principals insured by the FDIC up to and including the amount of...

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