Features More for your retirement
- No minimum deposit to open
- Competitive rates
- Grow your money faster with interest compounded daily
- Get the best rate we offer on the day you open or fund your IRA CD when you fund within 90 days
- Flexible funding options, including rollover to Roth and Traditional IRAs
- Available for Roth, SEP and Traditional IRAs. Find the IRA for you
- Your deposits are insured by the FDIC up to the maximum allowed by law. Maximize your coverage
Want to know more? Download our Straight Talk Product Guide
Managing your account is easy
Step up your savings
Learn how to combine long-term earnings with more frequent access to a portion of your money using our CD Ladder tool.
Rates Get more for your money
We offer rates that are consistently competitive. With our at-a-glance chart, you can quickly and easily compare IRA CD accounts and choose the right option for the way you bank.
See how we compare
Estimate your earnings
|Annual Percentage Yield||Estimated Earnings for 12 Months||Estimated Total Savings|
What we're showing you
Our Annual Percentage Yields (APY) are accurate as of 1/31/2014. The APYs for other banks are provided by mybanktracker.com and are accurate as of 3/3/2014. The APYs in this table are for the state of California. Not your state?
If you make an early withdrawal, you may pay a penalty. An additional IRS tax may also apply; please consult your tax professional.
Fees No surprises
We don't charge any maintenance fees for your Ally Bank CD. When your CD matures, you can withdraw your money at no charge during a 10-day grace period. If you decide to renew your CD, don't do a thing, and we'll automatically renew it.
Withdrawals before the maturity date are subject to penalties. Partial withdrawals aren’t allowed. Are there exceptions?
If you redeem your CD before the maturity date, the penalty we charge will depend on your CD term (see penalty schedule). How is the penalty calculated?
See the Ally Bank Deposit Agreement for full details on how we calculate the withdrawal penalty.
|IRA High Yield CDs Purchased or Renewed Before 12/07/13|
60 days of interest
|IRA High Yield CDs Purchased or Renewed on or After 12/07/13.
The penalty we charge will depend on your CD term.
2 years or less
60 days of interest
90 days of interest
120 days of interest
5 years or longer
150 days of interest
Your withdrawal may be subject to an additional 10% Internal Revenue Service (IRS) tax if it's made before you reach age 59½. You may want to check with a tax professional before making withdrawals from your IRA CD.
Ally Bank It's good to be different
We are a branch-free bank, which means we don’t have physical bank locations. By eliminating the costs associated with traditional brick-and-mortar banks, we can offer great rates and outstanding customer care.
With Ally Bank, you get everything you expect from a traditional bank and more:
- Peace of mind. No hidden fees. No maintenance fees. No minimum balance required
- Keep track. Access your account anytime, anywhere with Ally Online & Mobile Banking
- Ally Ten Day Best Rate Guarantee. When you renew your CD, you automatically get the best rate we offer within 10 days beginning with the CD renewal date. Most banks offer only one rate — the one you get the day you renew.
- Interest compounded daily. We grow your money faster with interest compounded daily. Many others compound monthly, quarterly, or even annually.
Learn more about the benefits and conveniences of Ally Bank.
FAQs We have answers
Can I add additional funds to an IRA certificate of deposit?
No. Additional funds cannot be added during the initial term of any of our IRA certificate of deposit options. Once the certificate of deposit matures, however, you have the opportunity to deposit additional funds and roll over the CD into a new term. This can be done during the 10-day grace period, starting with the maturity date. Annual IRA Contribution limits may apply. Consult your tax professional for advice.Was this helpful?
What happens if the IRA CD rate changes after I open a new account?
With Ally's IRA High Yield Certificate of Deposit and IRA Raise Your Rate Certificate of Deposit, you get the best rate we offer on the day you open your CD or the day you fund — whichever is higher — when you fund within 90 days of opening the CD. With our IRA Raise Your Rate CD, you get the added ability to call us for a rate increase if our rates go up any time during the CD's term.
If your CD has not been funded after 90 days, we will close it.Was this helpful?
What types of IRA certificates of deposit do you offer?
We offer 2 types of IRA CDs: an IRA High Yield Certificate of Deposit with fixed rate terms of 3, 6, 9, 12 and 18 months, and 3 and 5 years; and IRA Raise Your Rate Certificates of Deposit for 2 year and 4 year terms that let you raise your rate during your term if our rates go up.Was this helpful?
Still have questions? Visit our Help Center
Select the form you need from the list below.
All IRA Plans
Traditional & SEP IRA PlansTraditional-SEP IRA Application
Traditional-SEP IRA Direct Rollover Request
Traditional-SEP IRA Distribution Request
Traditional-SEP IRA Required Distribution
Traditional-SEP IRA Rollover Election
Traditional-SEP IRA Transfer Request
Roth IRA PlansRoth IRA Application
Roth IRA Conversion
Roth IRA Distribution Request
Roth IRA Direct Rollover-Conversion
Roth IRA Rollover Election
Roth IRA Transfer Request