Not sure why these big banks have not raised their saving account rates with the stronger economy. My current rate is 0.00785%

I am considering a Ally online savings account making 2.20%

2.20%

Annual Percentage Yield

On all balance tiers.

No monthly maintenance fees.

24/7 customer care.


Anybody have a account with Ally?

Yup. It's great.

Yup, nothing to complain about with it.

Dang you're getting ripped off for sure. My checking earns more interest than your savings

Shirt answer is the economy isn't that strong

I could easily be wrong because of lack of information.......but you may be comparing apples & oranges.

I suspect that your .00785% rate is a DAILY rate not an annualized yield

I've been with Ally since they were GMAC. Love em. They are always increasing rates as the Fed moves them up, it's very easy to transfer between accounts, and they have some nice CD options. 12 month CD currently at 2.75% Current savings is at 2.2%

They used to do a Refer a Friend, but don't anymore.

For the year I made .24 cents and had a balance over 2000.00 at beginning of year and over 3000.00 at the end of the year. US Bank

That really is pathetic. I would look at a money market account rather than a bank saving account.

I have a $2500 12 month CD 2.65% with Ally that I opened in October and it is showing interest accumulated already of $16.54. Their detail line shows I'm earning 18 cents a day on it.

Early penalty of course if I were to withdraw, but that ain't the plan.

The incentive for banks to pay more interest to get funds left when the politicians etc. raised the leverage limit or the amount of collateral the bank needed to loan out money. Seventy percent was an old guideline and that was moved out to 90% and thus many banks became investment banks and not places to money into. Also with the rapid rises in the market investors were in the stock market and not savings accounts. This still goes on but not like it did in the late 90s. So thast created a need for banks to find ways to put their money into the securities market so they could play on the bigger field.
We have done business with a small local bank who has been able to stay independent. They never broke away from the old lending guideline. We have been with them for 43 years. Our rates are similar to most other larger banks, a bit higher but we pay hardly any fees at all which is how many banks make up for the lower earnings from interest.

Bryce

Another thing too is that most people get paid through direct deposit so people were having to get bank accounts more or less through coercion instead of volunteering. This banks aren't having to compete with interest rates as much to get savers. Amongst other things...

It seems silver is cheap compared to gold and it peaks every 10-15 years so if a guy bought it right and sat on it then down the line (the way things are going) it should double in price then or even better. It was over $30 a few years back and it's $16 now so do the math.

Banks don't need savers to get money, they have the FED and the US government to artificially create it.

It was up to 50 a few years back. Physical silver should't be viewed as an investment.

They were crazy to get silver back then too. LOL Most class III weapons are more of a investment then people think as the values rise at a steady pace.

Just wondering why you say that?

Might be the lack of control is the only thing I could think of it's a long haul to get there depending on how things are going?

Back in July of 2011, silver topped out at $40.10/oz. Today it is trading @ $15.93 Not adjusted for inflation

The S&P 500, over that same time span returned a TRUE, compound annual growth rate of 13.75 %....in other words a dollar invested in the S&P in 2011 would be worth $2.46 today. Not adjusted for inflation.

Precious metals are not........as Steven says........ an investment.

land,if you can afford to keep it.