Ally Bank Offers Bonus for New Deposits to IRA Accounts in 2015

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Dec 15, 2014, 10:00 ET

MIDVALE, Utah, Dec. 15, 2014 /PRNewswire/ -- Ally Bank, the direct banking subsidiary of Ally Financial Inc. (NYSE: ALLY), announced it will offer an incentive of $100 - $500 to consumers who rollover or transfer funds from outside Ally Bank to a new or existing Ally IRA CD or IRA Online Savings account between Jan. 1, 2015 and May 31, 2015.

Savers who make a qualifying deposit between Jan. 1, 2015 and May 31, 2015 will receive a bonus of $100 for a deposit of $25,000 - $49,999; $250 for a deposit of $50,000 - $199,999; and $500 for a deposit of $200,000 or more. To qualify for the bonus, the deposit can be in the form of rollovers, trustee-to-trustee transfers and individual contributions (up to annual contribution limits), and can include multiple deposits across IRA accounts to meet the minimum deposit requirement.

"The strong success of our IRA bonus offered to consumers earlier this year demonstrated that many people value the risk-free stability of using CDs and savings accounts for their retirement nest egg," said Diane Morais, Ally Bank Deposits and Line of Business Integration Executive. "The 2015 IRA bonus program, coupled with the many other leading benefits of Ally IRAs, provides an additional incentive for consumers focused on protecting and growing their retirement savings."

In addition to secure growth, competitive rates and potential tax advantages, Ally Bank IRAs are FDIC insured to the maximum amount allowed by law, and feature daily compounded interest and no monthly fees.

Ally customers have a variety of IRA products to choose from, including:

IRA High Yield CDs – Ally's highest fixed rate for growing retirement savings
IRA Raise Your Rate CDs – Customers enjoy a great rate upon opening their CD and have the option of increasing their rate once with our 2 year CD or twice with our 4 year CD if our rate goes up for the IRA CD's term
IRA Online Savings Account – Earn a higher rate than traditional savings accounts

The incentive, limited to one per new and existing customer, will be paid by July 31, 2015 to the IRA CD or account that received the last deposit to meet the minimum requirement. The account must be open, with qualifying funds in the account, at the time of payment. Additional details can be found at: https://www.ally.com/ira-bonus/.

About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposit required to open an account, no monthly maintenance fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the Bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years, and IRA Plans and products. Member FDIC.

For more information, visit the Ally media site at http://media.ally.com or follow us on Twitter @ally.

Contact:
Andrea Puchalsky
313-656-3798
[email protected]

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SOURCE Ally Financial