<prompt> Human: Hi, I have saved up 4500 in my Ally Saving account that currently has a 1.8 interest rate. My ally account is where I keep my emergency fund. I also have a car note of 4200 with an interest rate of .9. Is it worth draining my Ally account to finish paying off my car? Its very tempting to get it over with. Assistant: I dont think so. The money in your savings account is generating double the interest your loan is. Also that would leave you with virtually 0 savings. If the interest rate of your car was higher maybe, but .9 is great.Human: Thats what Im thinking but some friends and family were saying to just pay it off so its off my mind.  <response>: Is this 4500 your emergency fund, or is this money above and beyond your emergency fund?If it is above and beyond your emergency fund, then the answer is to do whatever feels best to you. Your loan is cheap, but your savings interest isnt much better, and the 20 of extra interest you could earn over the next year is peanuts in this discussion. If this money is your emergency fund, then you will want to verify that your emergency fund is adequately sized at 3-6 months of your expenses, depending on the stability of your job and your general risk tolerance. If the 4500 is not enough you should be holding off from paying extra towards your car until that is funded. If the 4500 is larger than what your emergency fund needs to be, you could throw the extra amount towards your debt if you like. 