High Yield Savings Account – Ally Bank vs Local Community Bank Checking Account Interest Rates
Posted on | August 26, 2010 | No Comments
Searching for a high yield savings account has become more common over the last several years as Americans are working hard to save more than they spend. One of the banks that is marketing their checking account products very hard is Ally Bank. Many wonder how Ally Bank it compares to local community banks when it comes to checking account interest rates in August of 2010.
While few can argue that Ally Bank has some very impressive interest rates for national banks they do not compare very well when it comes to local community banks. There are community banks throughout the country that are offering interest rates as high as 5% on a checking account. There are no national banks in the United States they can offer an interest rate this high when it comes to a checking account.
With this being the case it may be wise to start research locally and see if there are local community banks in the area. It may be surprising to find that there are community banks are offering very attractive interest rates as long as certain requirements are met. It is important to remember you must have residency in a specific area before submitting an application.
Author: Heather Best
Tags: ally checking account > ally savings account > checking account > community bank checking account > high yield checking > high yield savings > local community bank > savings account
Comments
Leave a Reply