A CD (certificate of deposit) is a deposit typically made at a bank or credit union with the promise that the deposited funds will stay in the CD for a specified period of time. In return, the bank will typically pay the depositor a higher interest rate on the transaction. It can be a smart way to save towards all kinds of goals and offers several additional benefits to the account holder. But some banks have a minimum opening deposit requirement. Fortunately, you can get an Ally Bank CD with no minimum deposit to open.
Ally Bank CDs are a great way to balance out your savings tools because they typically offer higher interest rates than savings accounts and can be tailored to fit your specific saving needs. And with an Ally Bank CD, you can open and fund the CD with any amount — there's no minimum deposit to open any of our accounts. Simply make your deposit within 10 days of opening the CD and take advantage of our Ten Day Best Rate Guarantee. You'll also be taking steps to create a good savings strategy.
Plus with the Ally Bank Raise Your Rate CD, you have the option to increase your rate — once with the 2-Year Raise Your Rate CD and twice if you have a 4-Year Raise Your Rate CD — should we raise the rate on the term of your CD. This gives you the opportunity to benefit from rising interest rates. In addition, Ally Bank offers automatic renewal at maturity, making saving money even easier.
All Ally Bank deposits are insured by the Federal Deposit Insurance Corporation (FDIC) to the maximum allowed by law, meaning your savings are always safe, too.
Ally Bank offers CD interest rates that are consistently among the most competitive CD interest rates in the country. To learn more call our live 24/7 customer support line at 877-247-ALLY (2559) or visit Allybank.com today.