# Ally Bank raising rates

**URL:** <https://community.clark.com/t/ally-bank-raising-rates/630>\
**Category:** Investing\
**Created:** [May 26, 2022, 11:50pm UTC](https://community.clark.com/t/ally-bank-raising-rates/630 "2022-05-26T23:50:16Z")\
**Posts on this page:** 4\
**Page:** 2

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**Author:** ![Al\_Scott](https://avatars.discourse-cdn.com/v4/letter/a/a587f6/32.png) [@Al\_Scott](https://community.clark.com/u/Al_Scott)\
**Post date:** [August 26, 2022, 5:05am UTC](https://community.clark.com/t/ally-bank-raising-rates/630/21 "2022-08-26T05:05:23Z")

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Ally saving account is a good rate. However, Sally Mae Bank just beat Ally’s no penalty cd. 2.7% vs 2,0%

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**Author:** ![butler](https://avatars.discourse-cdn.com/v4/letter/b/ac91a4/32.png) [@butler](https://community.clark.com/u/butler)\
**Post date:** [August 26, 2022, 1:43pm UTC](https://community.clark.com/t/ally-bank-raising-rates/630/22 "2022-08-26T13:43:20Z")

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Love me some Ally Bank…and now with the Savings Buckets it creates a virtual envelope system for allocating across different targets.

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**Author:** ![ochotona](https://sea2.discourse-cdn.com/flex016/user_avatar/community.clark.com/ochotona/32/293_2.png) [@ochotona](https://community.clark.com/u/ochotona)\
**Post date:** [September 21, 2022, 11:27pm UTC](https://community.clark.com/t/ally-bank-raising-rates/630/23 "2022-09-21T23:27:41Z")

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Kathy Jones, Charles Schwab - The Federal Reserve delivered another jumbo-sized rate hike at its meeting this week, lifting the upper bound of the fed funds target range by 75 basis points to 3.25%. Citing the need to bring down inflation and keep it down, the Fed’s projection indicates that it’s likely to continue raising the rate to a peak level of 4.6% in 2023, implying roughly 150 basis points in additional hikes.

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**Author:** ![ochotona](https://sea2.discourse-cdn.com/flex016/user_avatar/community.clark.com/ochotona/32/293_2.png) [@ochotona](https://community.clark.com/u/ochotona)\
**Post date:** [March 11, 2023, 6:08pm UTC](https://community.clark.com/t/ally-bank-raising-rates/630/24 "2023-03-11T18:08:18Z")

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I have opened an Ally Money Market Savings paying 3.8% and have shifed all assets to it from Online Savings paying 3.6%. Both are FDIC insured. The difference in features is very minor. Actually I have no idea why the two different products exist side by side, it seems overcomplicated to me.

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