For many retirees seeking to make the most of their money, finding the highest CD rates is essential. But safety is also a chief concern. Like you, they want to be sure those highest CD rates are for FDIC-insured deposits.
How Does a Bank Qualify for FDIC Insurance?
The Federal Deposit Insurance Corporation (FDIC) is a United States government corporation which currently insures the safety of deposits in more than 7,000 member institutions. Banks must apply for and meet certain financial and other requirements in order to qualify for FDIC insurance. When your highest CD rates are for FDIC- insured deposits, you'll have the peace of mind that your deposit is insured to the maximum allowed by law.
Be Confident Your Highest CD Rates are for FDIC Insured Deposits.
The FDIC provides a handy online tool that allows you to double-check an institution's FDIC insurance status. Before you open a CD, you can use its Bank Find tool to confirm your bank is a member of FDIC, and that your deposits will be insured.
At Ally Bank, you'll find CD rates that are consistently among the most competitive in the country. And of course, all Ally Bank deposits are FDIC insured up to the maximum allowed by law. We invite you to visit Allybank.com to learn more. You can also talk with a knowledgeable Ally Bank Customer Care Associate anytime, 24/7 at 877-247-ALLY (2559).