No Penalty Certificate of Deposit (CD)


Features Smart savings. Penalty free.

Want to know more? Download our Straight Talk Product Guide

Managing your account is easy

Get the service you need, when you need it. Talk to a real person 24/7, and enjoy the convenience of Online Banking and Mobile Banking.


Rates Get more for your money

We offer rates that are consistently competitive.

See how we compare

0.87 % APY 11 Month

Estimate your earnings

Annual Percentage Yield Estimated Earnings for 11 Months Estimated Total Savings

What we're showing you

Our Annual Percentage Yield (APY) is accurate as of 9/20/2014 . The APYs for other banks are provided by and are accurate as of 9/15/2014. The APYs in this table are for the state of California. Not your state?

Fees No surprises

There are no maintenance fees for the No Penalty CD.

With our No Penalty CD, you will not be charged a penalty for early withdrawal. You can withdraw your full balance and interest any time after the first 6 days of funding your CD.

If you decide to renew your CD, don't do a thing, and we'll automatically renew it.

Ally Bank It's good to be different

We’re an online bank, which means we don't have physical bank locations. By eliminating the costs associated with traditional brick-and-mortar banks, we can offer great rates and outstanding customer care.

With Ally Bank, you get everything you expect from a traditional bank and more:

  • Peace of mind. No hidden fees. No maintenance fees. No minimum balance required
  • Fund your account. It's easy with Ally eCheck Deposit℠ or an ACH transfer
  • Keep track. Access your account anytime, anywhere with Ally Online & Mobile Banking
  • Ally Ten Day Best Rate Guarantee. When you renew your CD, you automatically get the best rate we offer within 10 days beginning with the CD renewal date. Most banks offer only one rate – the one you get the day you renew.
  • Interest compounded daily. We grow your money faster with interest compounded daily. Many others compound monthly, quarterly, or even annually.

Learn more about the benefits and conveniences of Ally Bank.


Live customer care
always available


"Best Online Bank" 3 Years in a Row
MONEY® Magazine 2011, 2012, 2013

Customer Reviews Don't just take our word for it


See all   reviews

FAQs We have answers

  • Can I make additional deposits to a Certificate of Deposit (CD)?

    No. Additional deposits cannot be made during the term (initial and renewals) of any of our certificate of deposit options. However, once the certificate of deposit matures, you have the opportunity to deposit additional funds and roll over the CD into a new term during the 10 day grace period, starting with the maturity date.

  • Are there any fees to open or maintain a certificate of deposit?

    There are no fees to open or obtain the APY on a certificate of deposit.

  • 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.

  • What types of certificates of deposit do you offer?

    We offer three types: a High Yield Certificate of Deposit with terms of 3, 6, 9, 12, 18, 36, and 60 months; 2 year and 4 year Raise Your Rate Certificate of Deposit that let you raise your rate during your term if our rates go up; and a No Penalty Certificate of Deposit with an 11 month term that has no early withdrawal penalty.

  • How do I receive my money when my Certificate of Deposit (CD) matures?

    We make it easy for you to receive your funds. Just let us know by phone, chat, or regular mail before your certificate of deposit matures. You also have a grace period of 10 days starting with the maturity date to make a withdrawal without being charged a penalty. If you don't let us know you want to receive your funds, we will automatically renew your certificate of deposit. Please do not send your maturity request via secure email – just call us and we'll be happy to help.

Still have questions? Visit our Help Center