Help Center: Raise Your Rate CD

Other FAQs

• Do you need a signature card for each account I have with you?

  We only need one signature card for each customer no matter how many accounts the customer has with us.

• How can I find my account number?

  1. Log in to your online bank account
  2. Choose the name of the account that you’d like to view
  3. Next to Account Number select unhide 
  4. Select hide to mask it again

• How do I find current rate information?

  View all our rates, side-by-side, on our site's Compare page. You can also find more rate information on our individual High Yield Certificate of Deposit, No Penalty Certificate of Deposit, Online Savings Account, and Money Market Account pages.

• If the CD rate you advertise changes after I fund my account, what rate do I get?

  At Ally, we won't try to sneak anything by you. The Ally Ten Day Best Rate Guarantee gets you exactly what it says: the best rate we offer for your CD when you fund it within 10 days, starting with the open date. We just think it's the right thing to do.

• Is there a cost to me if I ask for the higher rate during the term of my 2 Year CD?

  No, it won't cost you a thing. And there are no strings attached. Just call us to lock in the higher rate, and you’ll enjoy the benefit of the higher rate for the remainder of your CD term.

• The calculator isn't working. What can I do?

  You'll need to download the latest version of Adobe Flash Player in order for the calculator to work.  Once you download the newest Flash Player, please reload the page and your calculator should work.

• What do I have to do to get the Ally Ten Day Best Rate Guarantee?

  Just open a CD account and fund it within 10 days to get the best rate we offer during that time.

• What is a CD ladder?

  Investing a large sum of money at one time? Instead of getting just one CD — one that either has a high rate and matures too far down the road or matures earlier but with a lower rate — a CD ladder is a way to open multiple CDs that mature at different times. This way, you have the option to access some of your original deposit each time a CD matures. If a CD matures and you don't need the money, you simply reinvest in a new CD with a longer term. By staggering maturity dates in this way, you ensure that you always have another chance to withdraw money.

  Benefits to creating a CD ladder:

  • Keeps your money constantly growing at high fixed rates

  • Gives you the opportunity to withdraw money at different times — just in case you need it

  • Gives you greater flexibility — if rates have gone up, you can reinvest some of your money at the higher rate

• What is Ally's 2 Year CD?

  Our 2 Year CD gives you a great rate when you fund your CD and the flexibility to lock in a better rate during the CD term. If you see our 2 Year CD rate go higher than what you have once during your term, you can give us a call to lock in that higher rate for the remainder of the term. It’s one more way we help you grow your money faster.

• What is the minimum deposit for opening an account?

  It's always $0 to open. There are also no monthly service fees.

• When do you send out 1099 tax forms?

  We will mail our 1099 forms to primary account holders on or before January 31. You’ll receive a 1099-INT if the total interest paid on all of your accounts was $10 or more.

  Your 1099-INT forms will be available online for 18 months starting with the 2010 tax year. To see your current 1099-INT form:

  1. Log in to your Ally account
  2. Select statements from the left-hand navigation
  3. Under the 1099 statements header, select the Form 1099-INT for the most recent tax year

  Please call us at 1-877-247-ALLY (2559) if you have questions or don’t receive a 1099 form by February 14.

• When is interest posted, and how do I receive it?

  Interest is typically posted on the maturity date. It can, however, also be posted monthly, quarterly, semi-annually, or annually. You can request to receive it in one of three ways:

  • By official check
  • By internal transfer to another Ally Bank account
  • By external transfer to a registered non-Ally bank account

  To make your request, just call us at 877-247-Ally (2559) or write to us at:
  
  Ally Bank Customer Care
  P.O. Box 951
  Horsham, PA 19044
  

• When will I start earning interest?

  No later than the business day we receive your opening deposit.

• When will transfers between internal Ally Bank accounts be credited?

  Immediately.

• Where can I find out how much interest I earned on my account?

  To see how much interest you earned on your account this year or last year:

  1. Log in to your Ally account
  2. Choose an account from the my accounts page
  3. Select the More Details link in the right hand column on your account details page

  The Interest YTD information is displayed on the right on your account details page and the Interest Prior Year information will be displayed below that if you earned interest on the account in the previous year.

• Which accounts can I see and access online?

  All of them:

  • High Yield Certificate of Deposit

  • No Penalty Certificate of Deposit

  • Online Savings Account

  • Money Market Account

  • NOW Account

  • Interest Checking Account