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ally bank

Ally Bank: Kiplinger’s Rated Best Savings Account

by Flexo on February 9, 2010. Banking 5 comments.

At the end of 2008, the editors of Kiplinger’s Personal Finance magazine selected FNBO Direct as their favorite savings account. Since that time, the banking landscape has changed. From the ashes of GMAC Bank rose Ally Bank offering competitive interest rates, currently APY. Kiplinger’s chose Ally Bank as the best savings account of 2009. You ... Continue reading this article…

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Ally Bank Increases Interest Rate to 1.64% APY

by Flexo on November 13, 2009. Banking Add a comment.

While most banks are still lowering their interest rates, Ally Bank increased its rate today, November 13, 2009, to 1.64 percent APY. Although the rate is up, it is only 0.09 percentage points higher than the rate of 1.55 percent last month, the lowest rate from Ally Bank or GMAC Bank since I started watching interest rates ... Continue reading this article…

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GMAC Asking for a Third Bailout From Taxpayers

by Flexo on October 29, 2009. Economy 11 comments.

Through today, GMAC has received government bailout funds totaling $12.5 billion. The company is asking the Obama administration for $5.6 billion more. One might say that in a true democracy, GMAC would need to ask permission from each taxpayer whose funds would go towards shoring up the company’s balance sheet, a move that would make ... Continue reading this article…

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Ally Bank Increases Interest Rate

by Flexo on August 28, 2009. Banking 2 comments.

When I started formally tracking high-yield savings rates, with a shared online spreadsheet, it was common to see banks offering interest rates above 5.0 percent APY. That was in January 2008, and the economy is in a different situation now. According to the government, there has been no measurable inflation, and now interest rates for lending ... Continue reading this article…

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FDIC Steps In to Keep Ally Bank’s Interest Rates Lower

by Flexo on June 16, 2009. Banking 5 comments.

The American Bankers Association (ABA) has not been happy with Ally Bank. A few weeks ago, the organization on behalf of its member banks sent a letter to the Federal Deposit Insurance Corporation complaining about Ally’s interest rates. With Ally planning to receive bailout funds through its enrollment in the government’s Treasury Liquidity Guarantee Program ... Continue reading this article…

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Savings and Checking Account Interest Rate Updates

by Flexo on June 5, 2009. Banking 3 comments.

A few banks have lowered interest rates offered for savings and checking accounts in the past few days. Here are a few of the new updates.

Ally Bank Savings Account is offering 2.0 percent APY as of June 19, 2009 Ally Bank Money Market is offering 1.85 percent APY as of June 19, 2009 OneUnited UNITY Gold E-Savings is offering ... Continue reading this article…

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Ally Bank Savings Account Review

by Flexo on May 29, 2009. Banking Reviews 24 comments.

See the review of the best online savings accounts – updated February 2010. A brief history of Ally Bank and its parent, GMAC In the turmoil engulfing General Motors there have been some changes related to banking. 51 percent of GMAC, which was originally established as a wholly-owned subsidiary of GM to provide financing for automotive purchases, was ... Continue reading this article…

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JoeTaxpayer: Felix - Where are you getting a post-tax 9%? Your advice is counter to what nearly every planner suggests. As Steve... on I Might Need $3,000,000 To Retire: What’s Your Number?

Josh: well, back on May 7 of 2009, my information was received by the irs…. 10 months later…. still no check…... on Receiving the First Time Homebuyer Credit Takes About Six Weeks

Felix Guzman: Thirty years from now is difficult to assess. The answer will always be the same: “save as much as possible, the... on I Might Need $3,000,000 To Retire: What’s Your Number?

Matt Jabs: Over the next 10 years I hope to establish a new home and way of life for me and my family. Beyond saving, I plan to... on I Might Need $3,000,000 To Retire: What’s Your Number?

Janet Doherty: Thanks for the great giveaway. My TurboTax tip is to be prepared. Have all your tax information in one... on Giveaway: 5 Extreme Finance Packages (TurboTax, Quicken, and QuickBooks)