Ally Bank IRA Raise Your Rate Certificate of Deposit (CD)


Give your retirement savings a raise

  • Competitive rates
  • 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 on your term and balance tier goes up.
  • Grow your money faster with interest compounded daily
  • If you fund your IRA CD within 90 days, you’ll get the best rate we offer for your term and balance on either the day you open or the day you fund your account
  • Available for Roth, SEP and Traditional IRAs. Find the IRA for you
  • Flexible funding options, including rollover to Roth and Traditional IRAs
  • 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

Get the service you need, when you need it. Talk to a real person 24/7, and enjoy the convenience of Online Banking and Mobile Banking.

Looking for IRA forms?

Raise your rate online

When rates go up, sign into your account, and give yourself a raise.


Get more for your money

We offer rates that are consistently competitive.

See how we compare

    Estimate your earnings

    Opening Deposit
    CD Term
    Annual Percentage Yield APY
    Estimated Earnings
    for 12 months

      What we're showing you

      Our Annual Percentage Yields (APYs) are accurate as of 03/26/2017. The APYs for other banks are provided by and are accurate as of 03/24/2017. The APYs in this table are for the state of California.

      If you make an early withdrawal, you may pay a penalty. An additional IRS tax may also apply; please consult your tax professional.


      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.

      Early Withdrawals

      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 Raise Your Rate CDs Purchased or Renewed Before 12/07/13
      60 days of interest
      IRA Raise Your Rate CDs Purchased or Renewed on or After 12/07/13
      The penalty we charge will depend on your CD term.
      2 years
      60 days of interest
      4 years
      120 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're an online 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
      • Raise your rate online. Get convenient alerts to find out when your rates go up, and easily raise your rate on your account dashboard
      • Keep track. Access your account anytime, anywhere with online and mobile banking
      • Ally Ten Day Best Rate Guarantee. When you renew your CD, you'll get the best rate we offer within 10 days of renewal date if our rate goes up on your term and balance tier within that time. 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.

      Live customer care
      always available

      5 Years
      "Best Online Bank" 5 Years in a Row
      MONEY® Magazine 2011-2015

      When you want to build a better financial future

      Whether you're starting to save or planning for retirement, we offer you the resources and the tools that can help you stay on track in any life stage.

      • Starting to Save

        Our Emergency Savings calculator can help you decide how much to put away for those unexpected costs.

      • Saving as a Family

        Use our Saving for the Future calculator to identify how much to save toward your goals.

      • Planning for Retirement

        Find out if you're on track to reach your retirement goals with our See How You Compare tool


      We have answers

      Still have questions? Visit our Help Center.