Features Give yourself a raise
- Start with a great rate, plus have the opportunity to increase your rate once over the 2-year term or twice over the 4-year term if our rate goes up on these CDs
- No minimum deposit to open
- Competitive rates
- Grow your money faster with interest compounded daily
- Get the best rate we offer for your CD term with the Ally Ten Day Best Rate Guarantee
- Your deposits are insured by the FDIC up to the maximum allowed by law. Maximize your coverage
- Protect your legacy. Open this account for a Trust. Learn more
Want to know more? Download our Straight Talk Product Guide
Managing your account is easy
Raise your rate online
When rates go up, sign into your account, and give yourself a raise.
Rates Get more for your money
We offer rates that are consistently competitive. With our at-a-glance chart, you can quickly and easily compare CDs and choose the right option for the way you bank.
See how we compare
Estimate your earnings
|Annual Percentage Yield||Estimated Earnings for 4 Years||Estimated Total Savings|
What we're showing you
Our Annual Percentage Yield (APYs) is accurate as of 1/31/2014. The APYs for other banks are provided by mybanktracker.com and are accurate as of 3/3/2014. The APYs in this table are for the state of California. Not your state?
If you make an early withdrawal, you will pay a penalty.
Fees No hidden fees
We don’t charge any maintenance fees for your Ally Bank CD. When your CD matures, you can withdraw your money at no charge during a 10-day grace period. If you decide to renew your CD, don’t do a thing, and we’ll automatically renew it.
Withdrawals before the maturity date are subject to penalties. Partial withdrawals aren’t allowed. Are there exceptions?
If you redeem your CD before the maturity date, the penalty we charge will depend on your CD term (see penalty schedule). How is the penalty calculated?
See the Ally Bank Deposit Agreement for full details on how we calculate the withdrawal penalty.
|Raise Your Rate CDs Purchased or Renewed Before 12/07/13|
60 days of interest
|Raise Your Rate CDs Purchased or Renewed on or After 12/07/13.
The penalty we charge will depend on your CD term.
60 days of interest
120 days of interest
Ally Bank It's good to be different
We are a branch-free 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
- Raise your rate online. Get convenient alerts to find out when your rates go up, and easily raise your rate on your account dashboard
- 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 rate. 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
"Best Online Bank" 3 Years in a Row
MONEY® Magazine 2011, 2012, 2013
Customer Reviews Don't just take our word for it
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.Was this helpful?
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.Was this helpful?
What is the minimum deposit for an Ally 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.Was this helpful?
How do I raise my rate?
When our current interest rate is higher than your interest rate, you can log in to your account and choose "raise now" on the Account Details page, chat with us online or call us at 1-877-247-ALLY (2559) to raise your rate.
Since rates may change, be sure to take action the same day you see the rate you want. You can log into your account and raise your rate online, or simply call us and we'll be happy to help you. Please do not send your rate increase request via Ally Secure Email.Was this helpful?
Still have questions? Visit our Help Center