Ally Bank

High Yield Certificate of Deposit (CD)

There are no fees to open or obtain the APY on a certificate of deposit.

The following numbers are all valid phone numbers for Ally Bank: 
877-247-2559 
855-379-4337 
855-379-4374 
855-379-4388 
855-379-4395 
855-379-4361 
855-379-4375 
855-379-4392 
855-379-4387

There's no minimum deposit to open a CD, but you may get a higher rate with a higher opening deposit.

The penalty depends on your term.

The penalty is calculated using the interest method detailed in the Ally Bank Deposit Agreement (PDF). It's first deducted from the accrued interest and then, if necessary, the principal. Keep in mind, you can't make a partial early withdrawal.

For Raise Your Rate CDs, the penalty is calculated using the interest rate in effect on your account on the day you request an early withdrawal.

If the account owner passes away or is judged legally incompetent, we'll waive the early withdrawal penalty.

To make an early withdrawal, log in to online banking and choose Manage CDs to select Early Withdrawal.

You have a 10-day grace period starting on your maturity date to:

• Change the term
• Make additional deposits or withdraw funds
• Close the CD

After your 10-day grace period, your CD will automatically renew into the same term if you don't make any changes. There are Select CDs that don't renew into the same term, instead they renew into the term defined when the CD is open.

Watch a quick video.

To provide renewal instructions online, choose Manage CDs.

To provide renewal instructions from the Ally Mobile App: Log in, choose  after the Current Balance, select Manage CDs and then choose Make Changes.

To provide renewal instructions for your IRA CDs, give us a call at 1-877-247-2559

No. Once you open and fund your CD, you can’t add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you'll have a 10-day grace period -- starting on your maturity date — to transfer funds or make other changes.

To add funds to your CD online: Log in and choose Manage CDs. 

To add funds to your CD from the Ally Mobile App: Log in, choose  after the Current Balance, select Manage CDs and then choose Make Changes.

If you schedule a transfer prior to maturity, we'll usually initiate that transfer on your maturity date. You can transfer money from another Ally Bank account, Ally Invest account or a verified account you have at another institution.

We offer a variety of CD options to meet your needs:

High Yield CD – terms range from 3 to 60 months.

Raise Your Rate CD – 2- and 4-year terms available. Start with a great rate, plus have the opportunity to increase your rate once over the 2-year term or twice over the 4-year term if our rate for your term and balance tier goes up.

No Penalty CD – 11-month term that allows you to withdraw all of your money any time after the first 6 days following the date you funded the account, and keep the interest earned with no penalties.

Select CD - Occasionally we’ll offer a promotional term that features all the benefits of a high-yield CD, but is available for a limited time.