When you've decided to save money using high interest rate CDs or other CD products, your first priority is probably to make sure you get the highest CD interest rate you can find. But how can you always be sure that you're making an apples-to-apples comparison when you compare CD rates between different banks?
For starters, remember that not all rates are created equal. Some financial institutions aren't very customer friendly, with terms and conditions that quickly offset their "great rate." They may also advertise a rate that's only available to residents of another state or require a higher balance and/or longer term of deposit. Or their "high interest rate CDs" might have an introductory or "teaser" rate for part of the term that drops to a lower rate for the remainder.
In other words, rate shopping is a good place to start, but it's not the place to stop. You need to know what you're getting and with whom you're trusting your money. Finding the highest interest rates is important, but so is your peace of mind. After all, it's your money.
Ally Bank works hard to help you make informed financial decisions and offers a different kind of banking experience than what you might be used to. We never use "teaser rates" because we're committed to making the banking experience as positive as possible. In fact, our CDs don't have minimum opening balance requirements. You can even compare CD rates at Ally Bank with our some of our competitor's right on our site or subscribe to our rates via RSS.
Take a look and see for yourself. With a variety of CD products for different needs — all with daily interest compounding to help grow your money faster — you'll see how Ally Bank might help make reaching your financial goals easier. Visit AllyBank.com or call customer care at 888-247-ALLY (2559), where live help is always available.