3 Reasons You Need an Ally Bank CD

Choose Ally Bank for Great Rates, Consistently Competitive APYs and No Minimum Opening Deposit

September 2012

Buying a bank CD can be good way to keep your money safe while it earns interest. CDs typically offer higher rates than savings accounts, so you can usually expect your money to grow faster in a CD than a savings account.

At Ally Bank, CDs come with a variety of benefits and terms to fit your financial plan. Here are three reasons why an Ally Bank CD can help you reach your financial goals.

1. Great Rates

At Ally Bank we don't have traditional brick-and-mortar bank branches. Instead, you can bank with us online, through the mail or over the phone. As a result, we save on operational costs, and we can pass the savings along to customers in the form of great rates on CDs.

In fact, Ally Bank CD rates are consistently among the most competitive in the country based on rates as published by Bankrate. And while some banks offer a better Annual Percentage Yield (APY) when you make a huge deposit, you can open and fund any Ally Bank CD with any amount and still get our best rate, backed by our Ten Day Best Rate Guarantee.

See our latest rates at AllyBank.com, or subscribe to our RSS feed. You can also compare Ally Bank CD rates with our major competitors' rates by clicking the "compare" tab on the website.

2. Versatility

Regardless of your financial plan, there's an Ally Bank CD to help you reach your goals:

  • High Yield CD: A certificate of deposit with our highest fixed CD rate for a fixed term - anywhere from three months to five years.
  • No Penalty CD: A fixed CD rate with the freedom of a no-penalty early withdrawal after the first six days following the date you fund your account.
  • Raise Your Rate CD: A certificate of deposit with the option to increase your rate if our rates on these CD's go up. You can opt to raise your rate once with a 2-year Raise Your Rate CD or twice with the 4-year version.

3. Customer Service

With an Ally Bank CD, you can expect great rates, a full line of CD choices and convenient customer service. If you're interested in opening a CD, visit AllyBank.com to learn more about which product is right for you. You can open your account directly on our website, through the mail or by calling live customer care anytime, 24/7 at 877-247-ALLY (2559).

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