Ally vs Discover :? What online savings account is the best

Ally vs Discover :? What online savings account is the best -

If you are looking to invest some of your money in an online savings account, you should consider looking in either Ally Bank and Discover online banking, both of which are FDIC insured and confidence in banking online. Which is better? Well, it depends on what kind of initial investment you are willing to do, and how much you want to return back. Visit our side comparison of Ally Bank and Discover to see which service is best for you.

What is Ally Bank offers

Overview: If you are looking for a savings account with a competitive APY and requires no minimum deposit or maintain balance, Ally Bank is a fantastic option.

APY 0.87%

Advantages: Ally Bank has all its bases covered in terms of competitive price and customer service . Unlike many other banks, both online and in person, there is no minimum deposit required to open an account. You are not required to have a minimum balance to maintain the account and no monthly fees.

Ally Bank also has the highest APY among online savings accounts, we examined. Get ahold of the bank's practice since its helpline is available 24 hours a day, seven days a week. Like other online banks, including CIT Bank, you are limited to six withdrawals or transfers per month free before being charged $ 10 per withdrawal as required by federal law. If you are looking for an online savings account that does not require a minimum deposit, but provides a competitive APY and 24/7 phone support, Ally Bank is an excellent choice.

Read our review of Ally Bank for more information.

What is Discovery Offer

Overview: Discover offers competitive APY and has no monthly fee or require a minimum balance to maintain. It requires a minimum deposit of $ 500 to open an account, however.

APY : 0.85%

Advantages: Discover offers a slightly lower Ally Bank APY and requires a minimum initial deposit of 500 $. Like Ally Bank, Discover does not require a minimum balance to maintain your account and also no monthly fees. You can contact Discover 24/7 by phone or submit a question via the online form. It also has the advantage of speaking to a representative via online chat. Its been a Tier Winner Top BankRate.com for consistently high yields, as well as being rated "Safe & Sound".

If you are looking for an online savings account that offers high APY and a relatively low initial deposit, Discover is an excellent choice.

For more Discover information, see our full review here.