MyAlly Banksavings account has a lower-than-average annual percentage yield.
This time last year, the bank’s high-yield savings account offered 4.35% APY.
Now, I’m earning 3.70% APY.
Most banks have lowered their savings APY.
Some banks are offering even higher than that.
Plus, choosing the right bank isn’t just about the savings rate it’s also about the features.
Once I’ve accrued $5, Ally moves that money to my savings.
I’ll earn interest on that money, too.
If you’re loyal to your longtime bank, consider having multiple savings accounts.
There’s no harm as long as your money isn’t eaten away bymonthly feeslike mine used to be.
Just remember to do the math first.
