Opening a Certificate of Deposit Online

Find Great Service and Great Rates with Ally Bank CDs

September 2012

When looking for the best certificates of deposit (CDs) for your needs, it's important to find a bank that helps you make the most of your money. These days, many customers are finding that opening a certificate of deposit with an online bank is a viable option.

For example, here at Ally Bank, we're an online bank, with a website designed for easy navigation and easy access to live customer service anytime, 24/7. And because we save on the overhead costs that come with actual branch locations, we can pass the savings onto customers in the form of certificate of deposit rates that are among the most competitive in the country.

In addition to great rates, we offer a line of CDs that gives you options:

  • High Yield CDs: The Ally Bank 12-month CD annual percentage yield (APY) is consistently amongst the most competitive, even when you include the average for banks that offer jumbo CDs. Jumbo CDs have an opening balance of $100,000 or more, and some banks offer a higher APY for these customers. Ally Bank offers the same great rate to everyone — you can open and fund your certificate of deposit with any amount.
  • No Penalty CDs: The Ally Bank 11-month No Penalty CD APY is consistently amongst the most competitive — so you can not only build your balance faster with our No Penalty CD, you have the option to withdraw your entire balance, including interest earned, anytime after the standard waiting period (anytime after the first 6 days following the date you fund your CD).
  • Raise Your Rate CDs: Our Raise Your Rate CDs pay great yields for two- and four-year certificate of deposit accounts. Plus, we give you the opportunity to raise that rate — once for a two-year term and twice for the four-year term — if our rates on these CDs go up during the term of your CD.

In addition, deposits in any Ally Bank certificate of deposit account are FDIC-insured to the maximum allowed by law and backed by our Ten Day Best Rate Guarantee for extra peace of mind.

Learn more by chatting with a live customer service representative at or by calling 877-247-ALLY (2559). Either way, we're here to help anytime, 24/7.

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