What could be easier than opening a CD online? Plenty of sites offer search engines that allow you to find and compare the highest rates from all over the country in seconds. And you may quickly discover that rates for online CDs consistently outperform CD rates from traditional brick-and-mortar banks. The reason is simple: Online banks such as Ally Bank don't have the expenses that come with staffing and maintaining branch banks, so we're able to pass the savings on to you in the form of online CDs that pay great annual percentage yields (APYs).
One online option that will likely show up again and again at the top of your search is Ally Bank. With rates that are consistently among the most competitive in the country, 24/7 live customer service and a wide variety of products, all that's left to do is choose your term.
To suit your personal timeline, our online CDs offer terms ranging from 3 months to 5 years. Ally Bank even makes the decision about term easier, with alternatives to traditional CDs like our Raise Your Rate CDs and the 11 Month No Penalty CD.
Don't Miss Out on Rising Rates.
Start with a competitive rate with one of our Raise Your Rate CDs, and feel good knowing you won't miss out on rising rates. With these online CDs, you can increase your rate once (for a 2 Year CD) or twice (for a 4 Year CD) if our interest rates on these CDs go up on those CDs at any time during Your CD's term.
Get Built-In Flexibility with No Early Withdrawal Penalty
The Ally Bank 11-month No Penalty CD allows you to withdraw all your money, including interest earned, without any penalties, anytime after the first six days following the date you fund your account. And the rates for this CD are competitive with other banks' 12-month CD CD rates published on Bankrate.
Over time, compounding matters
While other banks may compound your interest monthly, quarterly or even annually, we help grow your money faster by compounding interest daily. Over time, the difference adds up! No matter which CD term you choose, here's a little icing on the cake: The Ally Bank 10-Day Best-Rate Guarantee. When you open or renew an online CD with us, you're guaranteed the highest rate we offer for your CD during the first ten days starting with your open date if you fund your CD within that time. The Ally Ten Day Best Rate Guarantee also applies at renewal.
Explore your options today. Call 877-247-ALLY (2559) to speak live with a knowledgeable Ally Bank Customer Care Associate about our online CDs. Or learn more at AllyBank.com. Either way, live help is available 24/7 via email, web chat or phone.