Many banks - including Ally Bank - are members of the Federal Deposit Insurance Corporation (FDIC), so customer's certificates of deposit are FDIC insured. It's rare that you'll find a bank that isn't a member of the FDIC, but not impossible, so before you deposit money, it helps to check to be sure. If you can't find "Member FDIC" somewhere on the bank's site with a link to more information, it might help to check with the FDIC directly.
As a member of the FDIC, every Ally Bank customer's certificate of deposit is FDIC-insured to the maximum allowed by law.
Bank CDs can be a great way to save your money, and online banks like Ally Bank generally offer better rates than brick-and-mortar banks and their higher overhead costs. In fact, Ally actually offers some of the most competitive rates available, as published by Bankrate.com
And because Ally Bank customer's certificates of deposit are FDIC-insured, your initial deposit and any interest you earn is protected - again, up to the maximum allowed by law.
Ready to start an FDIC-insured CD? Learn more at allybank.com or call live, 24/7 customer service at 877-247-ALLY (2559) today.