No Penalty Certificate of Deposit (CD)


Features Smart savings. Penalty free.

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.


Rates Get more for your money

We offer rates that are consistently competitive.

See how we compare

0.87 % APY 11 Month

Estimate your earnings

Annual Percentage Yield Estimated Earnings for 11 Months Estimated Total Savings

What we're showing you

Our Annual Percentage Yield (APY) is accurate as of 10/08/2015. The APYs for other banks are provided by and are accurate as of 10/05/2015. The APYs in this table are for the state of California.

Fees No surprises

There are no maintenance fees for the No Penalty CD.

With our No Penalty CD, you will not be charged a penalty for early withdrawal. You can withdraw your full balance and interest any time after the first 6 days of funding your CD.

If you decide to renew your CD, don't do a thing, and we'll automatically renew it.

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
  • Fund your account. It's easy with Ally eCheck Deposit℠ or an ACH transfer
  • Keep track. Access your account anytime, anywhere with online and 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.


Live customer care
always available

4 Years

"Best Online Bank" 4 Years in a Row
MONEY® magazine 2011-2014

Customer Reviews Don't just take our word for it


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FAQs We have answers

  • Can I make additional deposits to my CD?

    No. You can only make an initial funding deposit into your CD. After you've made an initial funding deposit, you won’t be able to add more money until the CD reaches maturity.

    When your CD matures, you'll have a 10-day grace period, starting at the maturity date, to make any changes. Call us at 1-877-247-ALLY (2559) before your maturity date or before the end of your grace period if you would like to make changes to your CD.

  • What’s the minimum opening deposit for an Ally Bank CD and are there any fees to open a CD?

    There's no minimum deposit to open a CD. There's also no monthly maintenance fees or fees to open an Ally Bank CD.

  • What types of CDs do you offer?

    Ally Bank offers a variety of CD options to meet your needs:

    • High Yield CD – Choose terms that range from 3 to 60 months.
    • Raise Your Rate CD – 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 goes up on these CDs.
    • No Penalty CD – 11-month term that allows you to withdraw all of your money with no penalty any time after the first 6 days of funding your CD.
  • How do I receive my money when my CD matures?

    At maturity, you'll have a 10-day grace period to withdraw funds from your CD in one of the following ways:

    • Internal transfer to another Ally Bank account
    • External transfer to a registered non-Ally Bank account
    • Cashier’s check

    If you don't let us know you want to receive your funds before your maturity date or before the end of your grace period, we’ll automatically renew your CD. To make your request, call us at 1-877-247-ALLY (2559).

Still have questions? Visit our Help Center