IRA Raise Your Rate Certificate of Deposit (CD)
- 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 for your term and balance tier goes up on these IRA CDs
- 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
Raise your rate online
When rates go up, sign into your account, and give yourself a raise.
We offer rates that are consistently competitive.
See how we compare
Estimate your earnings
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What we're showing you
Our Annual Percentage Yields (APYs) are accurate as of 09/22/2018. The APYs for other banks are provided by mybanktracker.com and are accurate as of 09/21/2018. 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.
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.
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.
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
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.
Our Emergency Savings calculator can help you decide how much to put away for those unexpected costs.
Use our Saving for the Future calculator to identify how much to save toward your goals.
Find out if you're on track to reach your retirement goals with our See How You Compare tool
FormsSelect the form you need from the list below.
All IRA PlansIRA Beneficiary Request for Distribution
IRA Change of Beneficiary
IRA State Income Tax Withholding Election
Traditional & SEP IRA PlansTraditional-SEP IRA Application
Traditional-SEP IRA Direct Rollover Request and Rollover Election
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 and Rollover Election
Roth IRA Rollover Election
Roth IRA Transfer Request
Still have questions? Visit our Help Center.