Ally Bank
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Raise Your Rate Certificate of Deposit (CD)

If you think our CD rate is set in stone you've been living under a rock.


Give yourself a raise

  • 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.
  • Competitive rates
  • Grow your money faster with interest compounded daily
  • Get the best rate we offer for your CD term with the Ally Ten Day Best Rate Guarantee
  • Your deposits are insured by the FDIC up to the maximum allowed by law. Maximize your coverage
  • Protect your legacy. Open this account for a Trust. Learn more

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.

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

    Compare your earnings at Ally Bank with other banks.
    Bank Annual Percentage Yield Estimated Earnings
    Compare your earnings at Ally Bank with other banks.
    Bank/APY Estimated Earnings

    What we're showing you

    Our Annual Percentage Yields (APYs) are accurate as of 07/20/2019. The APYs for other banks are provided by and are accurate as of 07/19/2019. The APYs in this table are for the state of California.

    If you make an early withdrawal, you will pay a penalty.


    No hidden fees

    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.

    Raise Your Rate CDs Purchased or Renewed Before 12/07/13
    60 days of interest
    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

    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
    • 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 fund your CD within 10 days of your open date, you’ll get the best rate we offer for your term and balance tier if our rate goes up within that time. The Ally Ten Day Best Rate Guarantee also applies at renewal.
    • 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

    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

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