What should be taken into account when doing a certificate of deposit comparison? Certificates of Deposits(CDs) are a fairly straightforward way to save money, but there still are a few things to keep in mind when shopping for one.
For example, if you come across a CD that is offering a dramatically higher interest rate, keep in mind it might be temporary or only apply in certain conditions. It could also be a sign that what you're considering purchasing isn't actually an FDIC insured CD. As the Federal Deposit Insurance Corp. (FDIC) reports, "Not all companies with bank-sounding names are actually banks or are insured by the FDIC." At Ally, all of your accounts are FDIC insured up to the maximum allowed by law.
All of Ally's CDs are FDIC insured and come at some of the most competitive rates available. Take a look at what we have to offer and figure out which one best meets your needs.