If you are saving money with a certificate of deposit (CD) and interest rates suddenly go up, you might be tempted to move your money into a new, higher-rate CD, even if it means you'll pay a penalty. Beyond doing the math to see if such a change would work in your favor as opposed to waiting until full CD maturity, you could also look into CD products that help take advantage of rising rates.
Ally Bank offers CD products that can help ensure that you're always getting a competitive rate. With our Raise Your Rate CDs, you have the option of a one-time rate increase if our 2-Year CD rate goes up; you have the option to increase your rate twice (two times) if our 4-Year CD rate goes up.
Learn more by visiting Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.
Ally Bank, Member FDIC