Ally Bank Savings Account Cash Bonus
Enrolling and moving funds in to select Ally Banking Accounts currently comes with a very nice 1% bonus in addition to the interest rate provided by the account itself (Ally Savings Account provides 1.9% Interest Rate). The 1% bonus is a one time thing and the 1.9% interest rate is what is provided by the account on your balance. Compared to other savings accounts, this rate is substantially higher. Low risk savings options like this have become very popular as people are looking to diversify the type of accounts they are holding their money in. This would fall in to the category of risk free investment that still provides a nice interest rate for account holders. Ally provides the following example to explain the bonus on a $50,000 deposit:
The above example shows the 1% bonus for the $50,000 deposit which totals $500. Customers will also receive 1.9% interest on their account balance which will total out to $1,450 in 12 months off of your $50,000 deposit.
Enrolling and Receiving Your Ally Bank Bonus
There are a number of requirements in order to qualify for this bonus but the most important ones are the deadlines to receive the offer. Enrollment for you account must be completed by 10/21/18 in order to qualify. Once your account has been set up you will then have until 10/31/18 to fund your account with the money you will have to use towards your bonus. Your funds must be maintained in your account until until 1/15/2019 and on 2/15/2019, your bonus will be distributed based on the amount deposited that you maintained in your account. Additional details and bonus requirements include the following:
- A minimum of $1,000 deposit is required to meet the bonus to to a maximum of $100,000*
- Bonus totals will be based on your new deposits not existing funds you may have with Ally
- Eligible accounts include Online Savings, Money Market Accounts, Interest Checking, or CD accounts
Is The Ally Bank Savings Account A Good Option For Your Savings?
Ultimately the answer to this question will depend 100% on the individual but there are some things to consider when asking yourself this question. The most obvious circumstance is that if you have funds available in other savings accounts or money market accounts that are not earning up to 1.9% interest provided by Ally then this may be a no brainer. Between the interest rate and the bonus, moving funds that are earning less than this amount is a great options (you should always seek the best deal for interest rates on funds you are keeping in savings). Other investment opportunities such as the stock market or bonds may provide higher interest but they also come with higher risk and longer investment requirements.
The 1.9% interest rate provided on your account with Ally is about 20x the national average for similar account types like this. Ally Bank is becoming very popular (particularly with younger, tech savvy individuals) as they provide a fully online banking option. Customers who are looking to move funds or open a new account can certainly pay close attention to this deal as a very competitive option for securing their savings at a higher level of interest.
Accessing The Ally Bank Cash Bonus: www.AllyPayBackTime.com
