GMAC Savings Account Rates

One of the largest banks in the world, GMAC Bank offers several high interest savings accounts for you to consider. Because of this, we here at Savings Account Rates Info thought it would be worth looking into GMAC savings account rates.

With current posted internet savings account rates of 3.25% annual percentage yield (APY), compared to their Money Market savings rate of 2.75%, GMAC has a strong high yield savings accounts offering. There are limitations to this offering, of course, but they are not strict. No minimum balance is required and no monthly service fees apply.

All deposits in accounts to get these GMAC Bank savings account rates are FDIC insured, of course.  This makes the savings account rates at GMAC Bank even more attractive.

Doing the math on this high yield online savings account, we found that an initial $1,000 deposit, over five years, with a $50 additional monthly contribution becomes an impressive $4,356. If you’re looking at high yield savings accounts, this GMAC Bank offering is definitely one to put on your list.

For comparison, we looked over their Money Market Savings offering as well, which has similar account requirements (no minimum balance, no fees), but allows easier access to your money (six transactions per month at no fee: by check, ATM, or debit card) and still gives a strong interest APY of 2.75%. That compares to the 1.26% national average for Money Markets.

Whatever your needs, we feel that you should definitely keep GMAC Bank on your list. Especially if you’re looking for an internet savings account, these GMAC Bank savings account rates are among the best online savings accounts that we have reviewed.

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