There are no fees to open or obtain the APY on a certificate of deposit.

There's no minimum deposit to open a CD, but you may get a higher rate with a higher opening deposit.

We'll let you know when you can raise your rate by displaying a message at the top of your Account Details page. You can set up a custom rate alert in online banking.

If the current rate we offer for your term and balance tier is higher than your interest rate and you're eligible for a rate increase, you can raise your rate in one of the following ways:

1. Log in to online banking and raise your rate on your account details page
2. Chat with us online
3. Call us at 1-877-247-2559

Once we receive your request, you'll get the highest rate we offer for your term and balance tier that day, and your new rate will go into effect the next business day. There's no fee to request this rate increase.

The penalty depends on your term.

The penalty is calculated using the interest method detailed in the Ally Bank Deposit Agreement (PDF). It's first deducted from the accrued interest and then, if necessary, the principal. Keep in mind, you can't make a partial early withdrawal.

For Raise Your Rate CDs, the penalty is calculated using the interest rate in effect on your account on the day you request an early withdrawal.

If the account owner passes away or is judged legally incompetent, we'll waive the early withdrawal penalty.

To make an early withdrawal, log in to online banking and choose Manage CDs to select Early Withdrawal.

No. Once you open and fund your CD, you can’t add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you'll have a 10-day grace period -- starting on your maturity date — to transfer funds or make other changes.

To add funds to your CD online: Log in and choose Manage CDs. 

To add funds to your CD from the Ally Mobile App: Log in, choose  after the Current Balance, select Manage CDs and then choose Make Changes.

If you schedule a transfer prior to maturity, we'll usually initiate that transfer on your maturity date. You can transfer money from another Ally Bank account, Ally Invest account or a verified account you have at another institution.

We offer a variety of CD options to meet your needs:

High Yield CD – terms range from 3 to 60 months.

Raise Your Rate CD – 2- and 4-year terms available. 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.

No Penalty CD – 11-month term that allows you to withdraw all of your money any time after the first 6 days following the date you funded the account, and keep the interest earned with no penalties.

Select CD - Occasionally we’ll offer a promotional term that features all the benefits of a high-yield CD, but is available for a limited time.