How Do You Fund an Ally Bank CD?

Getting Started Is Easier than You Think

September 2012

Opening a Certificate of Deposit (CD) account with Ally Bank is a straightforward process, even if you're new to the world of online banking. It works like this: First, use the Ally website to familiarize yourself with our wide array of Ally Bank CD products. You can open your account online and simply send us a check, or arrange to have the money deposited electronically.

You have a number of CDs to choose from, too:

  • Raise Your Rate 2-Year and 4-Year CDs, which give you an interest rate that is among the most competitive in the country and allow you the option to increase your rate (once with the 2-year and twice with the 4-year) should our interest rates on these CDs rise before your CD matures.
  • No Penalty CDs, which allow you to withdraw all of your money with no penalties, and keep all the interest as long as you make your withdrawal after the standard CD waiting period, which is the first six days after funding your account.
  • High Yield CDs, which help maximize your money with competitive rates and daily compounding.

You can also call an Ally Bank customer care representative. We're ready to help you 24 hours a day, seven days a week - by email, online chat or by phone at 877-247-ALLY (2559.) You might also look into our online CD calculators, so you can get a sense of how much interest you'd earn in various types of Ally Bank CD products, and over what time period.

Three more reasons to consider an Ally Bank CD:

  • With our Ally Ten Day Best Rate Guarantee, you get the higher rate automatically. Most banks offer only one - the one you get the day you fund.
  • We grow your money faster by compounding interest daily. Many others compound monthly, quarterly or even annually.
  • We don't require a minimum deposit to get these great rates. Many banks do.

Explore your options at or call live customer care at 877-247-ALLY (2559), where help is available 24/7.

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