If 2020 has taught us anything, it has shown us the importance of establishing and maintaining a healthy financial portfolio– more explicitly the value of having a well-funded savings account. In truth, having a well-diversified financial portfolio is not just a stamp of genuine adulthood, but also necessary in such times of uncertainty. Understanding how money, specifically saving and investing works is crucial to building a financial safety net. Luckily, Ally Bank, an FDIC insured financial establishment offers numerous services, tools, and products that allow consumers to build a financial portfolio that is unique to them. This ally bank review will provide you with the scope of knowledge needed to select the Ally Bank products that will best suit your needs.
Similar to the vast majority of financial institutions, Ally Bank offers its customers checking and savings accounts, mortgage, auto, and personal loans, as well as numerous investment and retirement plans. However, one of Ally Bank’s biggest features is its high-yield online savings account. Not only offering competitive rates, this online account also allows you to split your savings into numerous buckets. In other words, there is no need for you to open multiple accounts for different purposes–you can now open one account and separate the funds by organizing your money into different buckets that work as digital envelopes. These digital envelopes allow you to streamline all your savings goals in one location, thus making account maintenance a breeze!
In addition, Ally Bank’s interest checking account offers customers rewards! With a 0.50% APY, Ally Bank customers are able to accrue an average of $125 (who doesn’t want free money?)! When paired with its managed investment accounts, it becomes apparent that Ally Bank is more than just another financial institution looking for ways to drive up their stock prices. Consumers are able to make advisory fees a thing of the past with Ally Bank’s cash-enhanced portfolio. This exclusively rare investing option also sets 30% of your portfolio aside as a cash buffer that accounts for market unpredictability. However, your 30% cash buffer isn’t just sitting there diminishing because of inflation, instead, it is earning 1.00% interest. Moreover, your diversified, human-created portfolio can be opened with as little as $100! Now, if you still feel as if this isn’t the account for you, Ally Bank offers four portfolio choices so that you are able to select products and services that highlight and focus on your needs.
Furthermore, you are able to make all of your major life purchases with Ally bank as your financial advisor and backer. Ally’s home, auto, and personal loan options all provide you with a streamlined process that makes the usual application process less cumbersome and easier to complete. Pre-approval for home loans can be done in about 3 minutes and you can complete and manage all your documents online (talk about genuine identity protection). With flexible terms that fit any budget, and shorter loan terms for leased vehicles, Ally Bank proves itself to be a national leader within the financial industry.
Still, feeling uncertain? Don’t just rely on this ally bank review, go check out their website, the ingenuity, detailed product descriptions, and 24/7 customer support will squander any reservations you have.