Ally increased the rate on their online savings account from 2.00% to 2.20% today. (Direct Link) This is by no means the best savings rate, but it’s nearer the top now. Existing customers are not yet seeing the rate increase, that’ll probably/hopefully happen overnight.
A lot us still have funds with Ally from the Ally Payback 1% bonus offer. The rate increase may be an effort to keep customers from moving their money out – check out various options we wrote about in this post.
The 11-month no-penalty CD rate remains at 2.30%, though I’d expect that to go up soon as well. We’ve updated our list of Best High-Yield Savings Accounts with the change.
Hat tip to readers Sheng and Ben
Down to 2.10
Ally has posted my bonus yesterday 5th Feb, everyone should check
William Charles 
Chuck
The biggest problem with Ally is they are based in Utah. I consciously avoid doing business, including vacations in any red state.
Thats absolutely ridiculous. Your money, your choice but thats mind boggling to me.
I mean the corporate hq is there, but the real HQ where most work is done is still Detroit
Only the southeast corner, around Moab is red. The rest of the state, being mostly desert, is brown, unless you’re in the mountains then it’s mostly green. Sometimes in the winter a lot of it is white though.
Still, that’s a pretty stupid reason for not dealing with a bank.
I will still keep prob $50k in there since i use ally as a hub and the rate increase helps
I missed Ally bonus offer. Hope it will be available again some day. Do you expect another bonus offer soon?
I’m also interested to know if anyone has predictions on a second offer of that bonus.
Too little too late. Just pulled out 99% of my funds out of ally and into Marcus and Barclays. Raise the rate before the promotion ended would have been a smarter move.
Moved $100,000 to CIBC
William Charles.39% today. They were the first last month to raise their rates for old and new customers. They have no gimmics and now I’m expecting them to raise their rate again to stay attractively competitive. Will keep the Ally account open for any more excellent deals.
CIBC has a pleasant physical office staff near me, too. They are one of the largest banks in Canada.
“Good news! We raised the Annual Percentage Yield on our Online Savings Account to 2.20%. You’ll start earning interest at your new rate today, and we’ll update your account details tomorrow.”
Purepoint also raised it to 2.35%
Maybe they were waiting to see how much money was leaving…