Ally Bank is an online-only financial institution that offers a range of banking services, including savings accounts, checking accounts, and certificates of deposit (CDs). Founded in 2009, it is known for its competitive interest rates and no monthly maintenance fees, making it an attractive option for customers looking to save money. As a member of the FDIC, Ally Bank provides deposit insurance, ensuring that customers' funds are protected up to the legal limit. The bank also offers user-friendly digital tools and mobile apps, allowing customers to manage their accounts easily from anywhere.