-
Financial Rates:
3.5
-
Customer Service:
5.0
-
Website Experience:
5.0
-
Bank Fees:
5.0
Pros:
- Competitive interest rates on accounts
- No required opening amounts or fees
- Good variety of accounts available
- Ten-day Best Rate Guarantee
Cons:
- Accounts have tiered interest rates
- Limited ways to fund your accounts
- Link external accounts to Ally accounts
- Transfers can take days to fund
-
Financial Rates:
1.5
-
Customer Service:
3.0
-
Website Experience:
4.0
-
Bank Fees:
5.0
Pros:
- Low opening amount required and no fees
- Checking account earns interest
- High-interest rates on accounts
- No set balance to earn highest rates
Cons:
- No business accounts offered
- MMA has high opening balance
- Not a wide variety of accounts
- Accounts opened through another website
Ally accounts offer competitive interest rates. The interest rates for the Ally savings account is 2.20% for all balances. The checking account earns 0.60% on balances over $15,000. The money market account and CDs also earn competitive rates.
Ally accounts do not have required opening amounts. You can open their accounts with any amount. There are no monthly fees for Ally accounts. They do not have set amounts required to keep in the account to avoid a monthly fee. The CDs have a fee if you withdraw money before the maturity date.
There are a good variety of personal accounts offered through Ally. These accounts include:
- Savings and money market account
- Interest checking account
- High yield CD
- Raise Your Rate CD
- No Penalty CD
- IRA CDs
When you open a CD with Ally, they offer a ten-day Best Rate Guarantee. For the first ten-days after opening your CD, Ally will watch the interest rates. If the rates increase during that time, the interest rate for your CD will increase. This guarantee is for new CDs as well as CD renewals.
Some Ally accounts have tiered interest rates. To earn the highest rates requires high account balances. The money market account requires $25,000 to earn the most competitive rates. The checking account requires $15,000.
There are limited ways to fund your Ally accounts. The easiest way to fund your account is through electronic transfers. Once your account is open, you can set up direct deposit with your employer. You can mail in a check or deposit a check through Ally eCheck Deposits. You cannot deposit cash into Ally accounts.
To make electronic transfers, Ally suggests linking an external account. You can then transfer money electronically between the linked account and Ally accounts. You can transfer money electronically between Ally accounts.
The standard time to transfer money from Ally to an external account is three business days. This time does not include weekends or holidays. If you need the money the next day, you must request the transfer before 7:30 p.m. Monday through Friday. Transfers between Ally accounts are immediate.
To open a BankPurely savings and checking account only requires $1. After the initial deposit, there is no amount required to keep in the account. There are no monthly maintenance fees. The BankPurely CDs only require $1,000 to open. There are four different CD terms available.
CheckingPurely account earns interest. The interest rates are competitive with other online checking accounts. The rates are much higher than your typical brick and mortar checking account rates. Free bill pay and mobile check deposits are available with the CheckingPurely account. There is no monthly fee or amount required to keep in the account.
All the accounts at BankPurely offer competitive interest rates. The account rates are much higher than your typical brick and mortar bank rates. They are competitive with other online-only accounts.
Any amount in the BankPurely accounts earns the highest interest rates offered. There is no specific amount required to earn competitive rates. Your balance will earn the highest interest rate, no matter what amount. The savings and checking account only need $1 to earn those rates. The CDs require $1,000. The MMA does require a higher amount of $25,000 to open and earn interest.
There are no business accounts currently offered through BankPurely. The only accounts are personal deposit accounts.
The money market account through BankPurely has a high opening required amount. The amount to open the account is $25,000. This account earns competitive interest rates. You receive an ATM card attached to the account.
BankPurely offers personal deposit accounts. There is only one savings account, one checking account, and one money market account offered. BankPurely does offer CDs, but there are only four different terms available. The CD terms are 12 months, 24 months, 36 months, and 60 months.
BankPurely is powered through iGObanking.com. To open a BankPurely account, you will be transferred to the iGObanking.com website. All the online banking functions are available under the iGObanking.com brand. Your account is through BankPurely, but the technology is through iGObanking.com. You will not see the BankPurely logo when you are opening an account. It is the right place to open the account as long as you see the iGObanking.com logo.
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| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.73% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.65% |
| Min to Open | $500 |
| Min to Earn APY | $500 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 3.80% |
|---|---|
| Rate | 3.80% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: It only takes about 5 minutes to open a fee-free account. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.40% |
|---|---|
| Rate | 4.30% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: No monthly maintenance fee, $0 to open, easily grow your money |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.46% |
|---|---|
| Rate | 4.46% |
| Min to Open | $500 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: $200 Bonus w/ Tiered Savings Account and Qualifying Activities |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.35% |
|---|---|
| Rate | 4.35% |
| Min to Open | $100 |
| Min to Earn APY | $5,000 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. Promoted offer: CIT Bank, a division of First Citizens, 125+ years of experience. |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.30% |
|---|---|
| Rate | 4.21% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| MMA (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | Yes |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.10% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.64% |
| Min to Open | $1,000 |
| Min to Earn APY | $1,000 |
| Monthly Fee | $5.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
| Savings (Rate as of 12/21/2024) | |
| APY | 4.75% |
|---|---|
| Rate | 4.75% |
| Min to Open | $10 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| FDIC insured at program banks†. Promoted offer: var. APY a/o 11/8/24. New customers only. Betterment LLC, not a bank |
|
| Savings (Rate as of 12/21/2024) | |
| APY | 4.10% |
|---|---|
| Rate | 4.02% |
| Min to Open | $0 |
| Min to Earn APY | $0 |
| Monthly Fee | $0.00 |
| Min to Avoid Fee | $0 |
| Checkbook | No |
| Member FDIC. | |
The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guarantee the accuracy or availability of any rates shown. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.
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1 APY stands for Annual Percent Yield. It's different from Rate because it takes into account compounding interest for the year.
2 MMA stands for Money Market Account. It's a savings and checking hybrid, allowing you to earn interest and use checks 6 times a month.