Ally Bank increased the interest rate it pays on Savings Accounts today to 0.99%. This is the second move up in rates by Ally Bank recently. Maybe this is a sign that bank deposit rates are finally starting to move higher from the historic lows these past few years.
See today’s High-Yield Savings Rates from the most competitive national banks. Includes Certificates of Deposits (CD’s), Money Market Accounts and High Interest Savings Accounts.
Business Insider has a great chart that shows how starting your retirement savings at 25 is so much better than at 35. While interest rates for savings accounts and certificates of deposit aren’t great right now, that will eventually change. It’s important to get in the habit of saving now.
|Savings Rate Center|
|Today’s Average Rates Across the Country*|
The President proposed a new entry-level, basic retirement account this week to help people start retirement savings accounts. It’s basically a RothIRA style account capped at $15,000 with the unique option to invest in a government-subsidized savings bond. Will myRA be right for you? Check out more of the details on CNBC and Marketwatch.
Capital One 360 is running its Fifth Annual Black Friday Sale with deals on checking and savings accounts opened between today and December 2nd. Several deals are available, including the ability to earn $125 when opening a new checking account or $50 when opening a new savings account. Check out their website for all the terms and conditions.