Getting the best possible result from a certificate of deposit, or CD, requires understanding exactly how your money will grow over time - a job that's made much easier simply by using a CD calculator.
Doing so enables you to see how much work your hard-earned money can do when it's deposited in a variety of different CD products. It also lets you see an estimate of the effects of changing how many times you might choose to roll your CDs over.
The CD calculator from Ally Bank is quick and easy, and you can use it to road-test any number of CD products, including:
- Raise Your Rate 2- and 4-year CDs, which give you an interest rate that is among the most competitive in the country and allow you to increase your rate should our interest rates on these CDs rise, once for the 2-year CD and twice for the 4-year CD.
- No Penalty CDs, which allow you to withdraw all of your money after the first six days after funding your account with no penalties, and keep all the interest.
- High Yield CDs, which can help maximize your money with rates that are among the most competitive available in the country.
If you want help using your CD calculator, you can contact customer care. We're ready to help you narrow down your choices 24 hours a day, seven days a week, either by chat or by phone at 877-247-ALLY (2559). We'll walk you through our online CD calculators, so you can get a sense of how much interest you might earn in these various types of Ally Bank CD products, and over what time period.
Remember, an Ally Bank CD offers four distinct advantages:
- With the Ally Bank Ten Day Best Rate Guarantee, you automatically get the higher rate. Most banks offer only one-the one you get the day you fund your CD.
- We grow your money faster by compounding interest daily. Many others compound monthly, quarterly or even annually.
- Our rates are among the most competitive available.
- We don't require a minimum deposit to open and fund your CD. Many banks do.
Explore your options and find out why Ally Bank is obviously different by visiting Allybank.com or by calling live customer care at 877-247-ALLY (2559), where we can answer your questions anytime, 24/7.