Maximized earnings. Maximized flexibility.
Get a fixed CD rate with the freedom of a no fee early withdrawal.
- Open with $0
- No fees whatsoever
- Get the best rate we offer with Ally's Ten Day Best Rate Guarantee
- Daily compounded interest for maximum earnings
- FDIC insured. Maximize your coverage
- Automatic renewal at maturity
- Ability to withdraw and receive earned interest as income — just let us know before the CD maturity date or by ten days after
- Want a no fee early withdrawal? We'll hand over your full balance and interest any time after the first 6 days of funding your CD
- Your term and rate will go into effect when you make your opening deposit
The Ally Difference
- You don't have to jump through hoops for an early withdrawal. Some banks require advance written notice and make you deposit withdrawal funds into another one of their accounts. We don't.
- With our Ally Ten Day Best Rate Guarantee, you get the option of a higher rate. Most banks offer only one—the one you get the day you fund.
- We grow your money faster by compounding interest daily. Many others compound monthly, quarterly, or even annually.
- We don't require a minimum deposit. Most banks do. Always be sure to check their fine print before choosing the right product for you.
Frequently asked questions
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Can I withdraw money from my No Penalty Certificate of Deposit before it matures?
Yes, you can withdraw your money 6 days after funding — and anytime thereafter — and you won't be charged a fee. Just remember, if you do make an early withdrawal it must be for the full balance plus all interest earned. -
How do I withdraw money early from a No Penalty Certificate of Deposit?
We make it easy for you to receive your funds if and when you need to. Just let us know by phone, online chat, or regular mail. -
What is the minimum deposit for an Ally Certificate of Deposit?
There is no minimum deposit to open our High Yield Certificate of Deposit, Raise Your Rate Certificate of Deposit or No Penalty Certificate of Deposit.
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What are the current rates on certificates of deposit?
You can view our current rates by visiting our High Yield Certificate of Deposit, Raise Your Rate Certificate of Deposit or No Penalty Certificate of Deposit pages. You can also call the Automated Telephone Banking System at 1-877-247-Ally (2559). Rates may be updated daily.
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What types of certificates of deposit do you offer?
We offer three types: a High Yield Certificate of Deposit with fixed rate terms of 3, 6, 9, 12, 18, 36, 48, and 60 months; a 2 year Raise Your Rate Certificate of Deposit that lets you raise your rate once during your term if our rates go up; and a fixed rate No Penalty Certificate of Deposit with a 11 month term that allows a no fee early withdrawal.
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Can I make additional deposits to a certificate of deposit?
No. Additional deposits cannot be made during the initial term of any of our certificate of deposit options. Once the certificate of deposit matures, however, you have the opportunity to deposit additional funds and roll over the CD into a new term. This can be done during the grace period, which extends to 10 days after the maturity date. -
How do I receive my money when my certificate of deposit matures?
We make it easy for you to receive your funds. Just let us know by phone, Ally Email, or regular mail before your certificate of deposit matures. You also have a grace period of ten days after the maturity date to make a withdrawal without being charged a fee. If you don't let us know you want to receive your funds, we will automatically renew your certificate of deposit. -
Will I be penalized for an early withdrawal from my Certificate of Deposit (CD) before it reaches maturity?
For all Ally CDs, except the No Penalty CD, you will be charged an early withdrawal fee equal to 60 days' interest if you withdraw your money before the CD matures. This fee is calculated using the interest method detailed in your Deposit Agreement, and is first deducted from the interest and then—if necessary—the principal. There are couple of exceptions: We will waive the early withdrawal fee if the depositor should pass away or be judged legally incompetent.
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Are there any fees to open or maintain a certificate of deposit?
There are no fees to open or maintain a certificate of deposit. -
How do I open a certificate of deposit?
You can open our High Yield Certificate of Deposit and No Penalty Certificate of Deposit in one of three ways: open an account online, call us at 877-247-Ally (2559), or go to our account opening page, select "Other ways to apply", and download a printable application and mail it to the address on the application.
 Be sure to choose Single/Joint application, Custodial application, or Trust application.
You can fund your certificate of deposit in two ways: immediately by using online funds transfer, or by mailing in a check. Just remember, your rate won't be locked in until we receive your funds. If the rate changes before the funds are received, you will get the rate in effect at that time. If you want to guarantee your rate when you open your account, simply fund your account via online transfer.