[Ally online savings now at 1.80%]

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sperry8
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Re: Ally online savings now at 1.50%

Post by sperry8 » Fri May 11, 2018 9:27 am

Ally raised it's rate to 1.60% APY today. Also raised their CD rates.
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drg02b
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Re: Ally online savings now at 1.50%

Post by drg02b » Fri May 11, 2018 9:28 am

LadyGeek wrote:
Mon May 07, 2018 6:41 pm
Thanks! We have an on-going discussion: Capital One now at 1.60 [Money Market Rate To 1.60% APY]
Ally now at 1.60% -- I guess they realized they weren't competitive enough.

Time to modify the thread title. :)

rantk81
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Re: Ally online savings now at 1.50%

Post by rantk81 » Fri May 11, 2018 9:39 am

Still showing 1.5% Annual Percentage Yield on my savings account at Ally...

drg02b
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Re: Ally online savings now at 1.50%

Post by drg02b » Fri May 11, 2018 9:58 am

rantk81 wrote:
Fri May 11, 2018 9:39 am
Still showing 1.5% Annual Percentage Yield on my savings account at Ally...
Accounts usually update the day after, but their current rates page shows 1.60%.

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willthrill81
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Re: Ally online savings now at 1.50%

Post by willthrill81 » Fri May 11, 2018 10:03 am

drg02b wrote:
Fri May 11, 2018 9:58 am
rantk81 wrote:
Fri May 11, 2018 9:39 am
Still showing 1.5% Annual Percentage Yield on my savings account at Ally...
Accounts usually update the day after, but their current rates page shows 1.60%.
My page still shows 1.50% APY.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

drg02b
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Re: Ally online savings now at 1.50%

Post by drg02b » Fri May 11, 2018 10:12 am

willthrill81 wrote:
Fri May 11, 2018 10:03 am
drg02b wrote:
Fri May 11, 2018 9:58 am
rantk81 wrote:
Fri May 11, 2018 9:39 am
Still showing 1.5% Annual Percentage Yield on my savings account at Ally...
Accounts usually update the day after, but their current rates page shows 1.60%.
My page still shows 1.50% APY.
I'm not talking about your account page, but their (public) current rates:
https://www.ally.com/bank/savings-account-rates/

You'll see the change overnight.

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willthrill81
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Re: Ally online savings now at 1.50%

Post by willthrill81 » Fri May 11, 2018 10:22 am

drg02b wrote:
Fri May 11, 2018 10:12 am
willthrill81 wrote:
Fri May 11, 2018 10:03 am
drg02b wrote:
Fri May 11, 2018 9:58 am
rantk81 wrote:
Fri May 11, 2018 9:39 am
Still showing 1.5% Annual Percentage Yield on my savings account at Ally...
Accounts usually update the day after, but their current rates page shows 1.60%.
My page still shows 1.50% APY.
I'm not talking about your account page, but their (public) current rates:
https://www.ally.com/bank/savings-account-rates/

You'll see the change overnight.
Gotcha.
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

sycotik
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Re: Ally online savings now at 1.50%

Post by sycotik » Fri May 11, 2018 10:29 am

EDITED

Weird to see that their 11 month no penalty CD sits at 1.50% still while the savings rate is at 1.60%. Maybe they will bump the CD back to the 1.75% now.
Last edited by sycotik on Fri May 11, 2018 10:38 am, edited 2 times in total.

sycotik
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Re: Ally online savings now at 1.50%

Post by sycotik » Fri May 11, 2018 10:30 am

"Time to modify the thread title."


Done

drg02b
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Re: Ally online savings now at 1.60%

Post by drg02b » Fri May 11, 2018 11:48 am

Every time I get excited about a rate increase, this line from the Simpsons comes back to me:

Lisa: 2.3% annual interest instead of the normal 2.25. So a year from now I'll have an extra nickel.

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zaplunken
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Re: Ally online savings now at 1.60%

Post by zaplunken » Fri May 11, 2018 2:22 pm

For the High Yield CDs only the 12 month CDs increased the interest rate the rest remain the same, 10 bp for the 2 lower levels and 25 bp for the $25k+

I wouldn't lock up money for 12 months in this environment but YYMV. The PMM is paying a better interest rate and liquid.

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Re: Ally online savings now at 1.60%

Post by hightower » Fri May 11, 2018 2:40 pm

This thread will seem funny when rates hit 3-4% again in the near future. We will be like "remember when we used to get excited about a 0.1% increase in interest rates?"

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willthrill81
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Re: Ally online savings now at 1.60%

Post by willthrill81 » Fri May 11, 2018 2:50 pm

hightower wrote:
Fri May 11, 2018 2:40 pm
This thread will seem funny when rates hit 3-4% again in the near future. We will be like "remember when we used to get excited about a 0.1% increase in interest rates?"
4% for savings account APY in the near future (i.e. a year or two)?
“It's a dangerous business, Frodo, going out your door. You step onto the road, and if you don't keep your feet, there's no knowing where you might be swept off to.” J.R.R. Tolkien,The Lord of the Rings

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Re: Ally online savings now at 1.60%

Post by jeffyscott » Fri May 11, 2018 3:35 pm

Things can change, but Fed is expected to raise rates maybe 3 more times this year and 4 next, so that's an increase of +1.75% in short term rate. So, yes, expecting yield on cash to be 3-4% seems reasonable.

https://www.cnbc.com/2018/03/21/federal ... -2018.html
The Fed also upped its 2020 forecast to 3.4 percent...
press on, regardless - John C. Bogle

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serbeer
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Re: Ally online savings now at 1.60%

Post by serbeer » Fri May 11, 2018 5:16 pm

Capital One 360 Money market is also 1.6%

patrick
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Re: Ally online savings now at 1.60%

Post by patrick » Fri May 11, 2018 5:46 pm

With Popular Direct at 2% I don't see why these 1.6% accounts are so popular.

SrGrumpy
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Re: Ally online savings now at 1.60%

Post by SrGrumpy » Fri May 11, 2018 6:40 pm

patrick wrote:
Fri May 11, 2018 5:46 pm
With Popular Direct at 2% I don't see why these 1.6% accounts are so popular.
$5,000 minimum, a $4 fee if the account falls below $500, a $5 dormancy fee, a $25 early account closing fee. TOD and ACH limitations. Bad reviews on Depositaccounts.com I get that these issues may be irrelevant for many people. But still.

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Rainier
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Re: Ally online savings now at 1.60%

Post by Rainier » Fri May 11, 2018 7:09 pm

My Ally account is earning 0.00% since I pulled out all my cash to earn more in money markets and US Treasuries.

Ally.....call me when you make it worth my time again.

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Re: Ally online savings now at 1.60%

Post by TurtleTurtle14 » Fri May 11, 2018 7:12 pm

Rainier wrote:
Fri May 11, 2018 7:09 pm
My Ally account is earning 0.00% since I pulled out all my cash to earn more in money markets and US Treasuries.

Ally.....call me when you make it worth my time again.
What vanguard money market do you recommend? What's the current interest rate? Any drawback to using money market over savings other than just the immediate ability to transfer into checking?

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welderwannabe
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Re: Ally online savings now at 1.60%

Post by welderwannabe » Fri May 11, 2018 7:52 pm

Ally's Money market still .9%. Yech.
I am not an investment professional, but I did stay at a Holiday Inn Express last night.

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sperry8
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Re: Ally online savings now at 1.60%

Post by sperry8 » Fri May 11, 2018 11:13 pm

SrGrumpy wrote:
Fri May 11, 2018 6:40 pm
patrick wrote:
Fri May 11, 2018 5:46 pm
With Popular Direct at 2% I don't see why these 1.6% accounts are so popular.
$5,000 minimum, a $4 fee if the account falls below $500, a $5 dormancy fee, a $25 early account closing fee. TOD and ACH limitations. Bad reviews on Depositaccounts.com I get that these issues may be irrelevant for many people. But still.
I've been with Popular since inception. No issues here. As long as you keep $500 in it there is no fee. If your plan is to keep less than $500 in any account - why bother opening it? A dormancy fee isn't assessed for >12 months. Are you going to fall asleep for 12 months? I never push/pull ACH from any of my online banks. I use Ally as my "hub" bank and push/pull from them. So limits don't matter. These issues you speak of are irrelevant for most. And in exchange I get 2% APY, liquid. I keep FDIC limits there... it's an absolute win.
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Re: Ally online savings now at 1.60%

Post by lowfi » Sat May 12, 2018 9:34 am

hightower wrote:
Fri May 11, 2018 2:40 pm
This thread will seem funny when rates hit 3-4% again in the near future. We will be like "remember when we used to get excited about a 0.1% increase in interest rates?"
This. Way back in '02, you could lock in 6.25% for 7 years. And in 1980, well...

When taken with a long view, one's financial live never ceases to amaze.

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Re: Ally online savings now at 1.60%

Post by pokebowl » Fri May 25, 2018 9:12 pm

For those who use Barclay's, I just got the following email this evening:
We're happy to tell you that your savings account(s) rate increased from an Annual Percentage Yield (APY) of 1.50% to a new APY of 1.65% on 05/23/2018.
Appears their HY savings account is now going to 1.65%.

NYCwriter
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Re: Ally online savings now at 1.60%

Post by NYCwriter » Sat May 26, 2018 1:49 pm

Unless they changed this very recently, Capital One 360 MM requires 10k minimum for the 1.6%, otherwise it's about half the yield.I split between this and Vanguard Prime

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Re: Ally online savings now at 1.60%

Post by changingtimes » Sat May 26, 2018 4:41 pm

I went in on a 2% 1-year high-yield CD (min $25k) at Ally in April, and then when their basic savings account went to 1.6% I moved most of the rest of my cash over there from AmEx Savings. The high-yield one year is already 2.25% at that deposit level. Grrr.

Am considering a very short-term CD ladder--like adding 9- and 18-mo CDs to bookend the 12-month one I'm already in. Don't have the dough for the max rates, but could do 1.75% for 9 months and 2.2% for 18. Could probably come out a few pennies ahead from just staying in the savings account. :D

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Re: Ally online savings now at 1.60%

Post by gmaynardkrebs » Sat May 26, 2018 4:51 pm

changingtimes wrote:
Sat May 26, 2018 4:41 pm
I went in on a 2% 1-year high-yield CD (min $25k) at Ally in April, and then when their basic savings account went to 1.6% I moved most of the rest of my cash over there from AmEx Savings. The high-yield one year is already 2.25% at that deposit level. Grrr.

Am considering a very short-term CD ladder--like adding 9- and 18-mo CDs to bookend the 12-month one I'm already in. Don't have the dough for the max rates, but could do 1.75% for 9 months and 2.2% for 18. Could probably come out a few pennies ahead from just staying in the savings account. :D
Why not go for the 2 year brokered at Morgan Stanley or Wells Fargo at $2.8%

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Re: Ally online savings now at 1.65%

Post by oldcomputerguy » Fri Jun 15, 2018 5:00 pm

Just got an email, Ally savings accounts now at 1.65%
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

Candor
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Re: Ally online savings now at 1.45%

Post by Candor » Fri Jun 15, 2018 8:51 pm

Candor wrote:
Fri Feb 09, 2018 10:40 pm
So I'll be expecting an e-mail from them by the end of next week notifying me of the increase. Thanks for the heads up. It's kind of interesting that I always hear about increases here before Ally gets around to letting me know.
^^Lately I've been receiving e-mail notifications much quicker so I guess I no longer have to rely on Bogleheads for this update. Maybe they peruse .org and were shamed into stepping up their game a little. :happy

Arinbjorn
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Re: Ally online savings now at 1.60%

Post by Arinbjorn » Sat Jun 16, 2018 11:18 am

Mine now shows 1.65%.

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tennisplyr
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Re: Ally online savings now at 1.60%

Post by tennisplyr » Sun Jun 17, 2018 8:04 am

Arinbjorn wrote:
Sat Jun 16, 2018 11:18 am
Mine now shows 1.65%.
+1
Those who move forward with a happy spirit will find that things always work out.

harmoniousmonk
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Re: Ally online savings now at 1.60%

Post by harmoniousmonk » Sun Jun 17, 2018 8:11 am

Sallie Mae bank giving me 1.75%

Jack FFR1846
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Re: Ally online savings now at 1.50%

Post by Jack FFR1846 » Tue Jun 26, 2018 8:44 am

redneck bank megamoney, now 2% up to $35k
Bogle: Smart Beta is stupid

SEAworld9
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Re: Ally online savings now at 1.50%

Post by SEAworld9 » Tue Jun 26, 2018 10:48 am

Jack FFR1846 wrote:
Tue Jun 26, 2018 8:44 am
redneck bank megamoney, now 2% up to $35k
it's actually up to $50k - this changed a couple months ago. and you can have an account at redneck and at all america with these terms.

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Re: Ally online savings now at 1.60%

Post by alfaspider » Tue Jun 26, 2018 1:19 pm

Marcus (FKA GS Bank, FKA GE Capital Bank) is now at 1.8%.

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Mlm
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Re: Ally online savings now at 1.65%

Post by Mlm » Fri Jun 29, 2018 3:42 pm

Ally just went to 1.75%
Reality has a way of catching up with you

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oldcomputerguy
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Re: Ally online savings now at 1.65%

Post by oldcomputerguy » Fri Jun 29, 2018 3:51 pm

Mlm wrote:
Fri Jun 29, 2018 3:42 pm
Ally just went to 1.75%
Yep, shows 1.75% on their web site. I didn't get an email this time, but hey, dem's da breaks.
It’s taken me a lot of years, but I’ve come around to this: If you’re dumb, surround yourself with smart people. And if you’re smart, surround yourself with smart people who disagree with you.

abcd12345
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Re: Ally online savings now at 1.65%

Post by abcd12345 » Fri Jun 29, 2018 4:02 pm

oldcomputerguy wrote:
Fri Jun 29, 2018 3:51 pm
Mlm wrote:
Fri Jun 29, 2018 3:42 pm
Ally just went to 1.75%
Yep, shows 1.75% on their web site. I didn't get an email this time, but hey, dem's da breaks.
Website shows 1.75%. After login, account shows 1.65%. will wait and see if it changes after midnight.

sonosoldi3112
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Ally Bank savings account rate increase 1.75%

Post by sonosoldi3112 » Fri Jun 29, 2018 4:36 pm

[Thread merged into here, see below (next page). --admin LadyGeek]

"Another rate increase for the 6th time this year! Within the last 6 months, the Online Savings Account rate has gone from 1.25% APY to 1.75% APY, which means your money is working even harder. Now's the perfect time to make the most of your increased rate"

Rainmaker41
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Re: ALLY BANK savings account RATE increase 1.75%

Post by Rainmaker41 » Fri Jun 29, 2018 4:41 pm

Funny how it never quite keeps up with inflation. Oh well- that’s the insurance premium for the stability of the emergency fund.
My username is not about money, but is my old online gaming username. I can't say that I make a great deal of money; I just hate spending it. Married the most loving woman in the world October 2017.

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Re: ALLY BANK savings account RATE increase 1.75%

Post by Dandy » Fri Jun 29, 2018 4:49 pm

While not FDIC guaranteed VG Fed Money Market is paying north of 1.8% and Prime north of 2%. It wasn't long ago that these rates were near zero.

Longdog
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Re: ALLY BANK savings account RATE increase 1.75%

Post by Longdog » Fri Jun 29, 2018 5:01 pm

I suspect Ally is seeing a lot of outflows and is trying to stem the tide
Steve

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Re: ALLY BANK savings account RATE increase 1.75%

Post by thangngo » Fri Jun 29, 2018 5:03 pm

sonosoldi3112 wrote:
Fri Jun 29, 2018 4:36 pm
"Another rate increase for the 6th time this year! Within the last 6 months, the Online Savings Account rate has gone from 1.25% APY to 1.75% APY, which means your money is working even harder. Now's the perfect time to make the most of your increased rate"
Shouldn't this be bad news?

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Re: ALLY BANK savings account RATE increase 1.75%

Post by Grt2bOutdoors » Fri Jun 29, 2018 5:04 pm

Longdog wrote:
Fri Jun 29, 2018 5:01 pm
I suspect Ally is seeing a lot of outflows and is trying to stem the tide
Other banks are offering bonuses for “new” money, its an easy way to capitalize on the trend by putting the money elsewhere.
"One should invest based on their need, ability and willingness to take risk - Larry Swedroe" Asking Portfolio Questions

student
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Re: ALLY BANK savings account RATE increase 1.75%

Post by student » Fri Jun 29, 2018 5:07 pm

This seems to be the standard rate. Same at American Express and Barclay's.

vbdoug
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Re: ALLY BANK savings account RATE increase 1.75%

Post by vbdoug » Fri Jun 29, 2018 5:16 pm

PurePoint has been 1.90% for awhile and has a 10k minimum. No fees and no problems so far.

doc3
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Re: ALLY BANK savings account RATE increase 1.75%

Post by doc3 » Fri Jun 29, 2018 5:19 pm

Marcus by Goldman Sachs is at 1.8%, no minimum

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Re: ALLY BANK savings account RATE increase 1.75%

Post by MikeG62 » Fri Jun 29, 2018 5:19 pm

Longdog wrote:
Fri Jun 29, 2018 5:01 pm
I suspect Ally is seeing a lot of outflows and is trying to stem the tide
I agree with this.

I personally moved a near mid-six figure amount from Ally to Fidelity just this week to deploy in a 6-month Treasury ladder. Until the ladder is fully built out, the funds are sitting in Fidelity's prime MM earning 1.96%.
Real Knowledge Comes Only From Experience

Jack FFR1846
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Re: ALLY BANK savings account RATE increase 1.75%

Post by Jack FFR1846 » Fri Jun 29, 2018 5:34 pm

Shamelessly.....I chase rates.

CIT bank: 1.89%
Redneck bank: 2.0%
Bogle: Smart Beta is stupid

JGoneRiding
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Re: ALLY BANK savings account RATE increase 1.75%

Post by JGoneRiding » Fri Jun 29, 2018 5:45 pm

Oh good! I just stuck 50k proceeds from selling house in there. Will appreciate the extra boost

terran
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Re: ALLY BANK savings account RATE increase 1.75%

Post by terran » Fri Jun 29, 2018 5:45 pm

MikeG62 wrote:
Fri Jun 29, 2018 5:19 pm
I personally moved a near mid-six figure amount from Ally to Fidelity just this week to deploy in a 6-month Treasury ladder. Until the ladder is fully built out, the funds are sitting in Fidelity's prime MM earning 1.96%.
Which fidelity fund is this? According to https://www.fidelity.com/mutual-funds/f ... unds-fcash the 1.43% of SPAXX seems to be the highest core fund they offer.

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