An Ally Bank Certificate of Deposit (CD) can be a great way to save.
But with everyday expenses staring you in the face, putting $5,000 (as an example) in savings instead of spending it sometimes can be difficult. And because starting the process often is the most difficult part, here's a bit of motivation: Try envisioning what you might do with the money you put away in an Ally CD.
Ally CDs are especially effective in those situations when you know when you will need the money, and you don't want to put it at risk. Think about
- updating your appliances.
- your child's college education.
- that retirement cruise you've always dreamed about.
Or maybe you're a bit more pragmatic: Instead of an ocean cruise, you're more interested in envisioning how an Ally CD could be part of your retirement fund, or the cash portion of your investment portfolio.
Whatever the case, thinking about the future is a very positive way to start thinking about putting together an Ally Bank CD strategy. And, of course, the money you put into an Ally CD is yours to spend or save, any way you like.
Your funds in an Ally Bank CDs are included in your Federal Deposit Insurance Corp. (FDIC) insurance coverage up to the maximum allowed by law. And because they compound interest daily - rather than monthly or quarterly - they can help your money grow more quickly.
To help you think about the possibilities, use the Ally Bank CD calculator, and consider that our CD rates are consistently among the most competitive in the country. Plus, Ally Bank offers the same great rate to everyone - backed by our Ten Day Best Rate Guarantee.
So you may not have to commit to a large deposit and a long-term in order to earn a great APY. You can open and fund an Ally Bank CD with any amount online at AllyBank.com, or you can call a customer-care representative for help anytime, 24/7 at 877-247-ALLY (2559).