by requiring access to your money at all times, you must basically 'write off' CD's since these carry an early withdrawl penalty if the principal must be withdrawn before the term of the CD expires. For a 'high interest' demand deposit situation, you're looking at a Money Market account ...
http://www.ally.com/bank/money-marke...unt/rates.html
However, be aware that the new FinReg law has provisions that will affect Money Market accounts. What difference this may make nobody really knows yet. Also, money market accounts impose fees if the number of transactions exceeds a certain number ( I think with ALLY / Schwab etc. it's more than 6 transactions per month ), meaning that if you plan to use this account for writing checks, paying bills etc. that the fees will eat you alive.
however, if your intent is to use this for accumulation of savings, such that you would only need instant access to your principal in an 'emergency' situation, then CD's may be worth considering after all. In the case of ALLY bank, the early withdrawl penalty is the forfeiture of 2 months worth of interest earnings ... which is not a big deal compared to earning 2.9% interest during all of the other months.
https://www.ally.com/bank/high-yield...762#tabs=rates
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