Ally Bank

Raise Your Rate Certificate of Deposit (CD)

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

Available Terms

Annual Percentage Yield

No minimum deposit to open

Give yourself a raise.

Great rates and simple online CD management. It's a match made in heaven.

We reward you when you renew.

We’re currently giving a 0.05% Loyalty Reward when you renew your CD to any CD with us. Check back 30 days before your CD matures to see what the reward is at that time.

If our rate goes up, you can raise yours.

There’s no minimum deposit required to open your account, and you’ll always start with a great rate. Plus, you’ll have the opportunity to raise it once for the 2-Year term or twice for the 4-Year term, if our rate goes up for your term and opening balance amount. Interest is compounded daily.

Manage your CD online.

We make it easy to manage your CD online. When it’s time to renew, don’t do a thing and we’ll renew it automatically.

Features offered with every Ally Bank CD.

Digital banking tools.

It’s easy to bank anytime, anywhere with the Ally Mobile app.

Your money, FDIC-insured.

Deposits are insured by the FDIC up to the maximum allowed by law.

Learn More

No monthly maintenance fees.

Don’t expect any sneaky monthly maintenance fees with us.

Open in the name of a trust.

Offer flexibility and security for the ones you care about most.

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Up your saving strategy with a CD ladder

See how combining short-term and long-term CDs can help you maximize your earning potential and save smarter.

Explore CD Ladders

Get more for your money.

Compare the cost of banking somewhere else.

Opening Deposit

What you should know.

Our Annual Percentage Yields (APYs) are accurate as of XX/XX/XX . The APYs for other banks are provided by mybanktracker.com and are accurate as of XX/XX/XX . The APYs in this table are for the state of California.

The APY we pay is based on your opening deposit amount. Advertised APYs are subject to change.

No hidden fees, no surprises.

You shouldn't be nickel and dimed for using your own money.

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.

Early withdrawals

Withdrawals before the maturity date are subject to penalties. Partial withdrawals aren’t allowed. Are there exceptions?

Early withdrawal penalties will depend on your CD term.

2-year term

60 days of interest
4-year term

120 days of interest

Get to know every aspect of this account before you sign up.

Check out our Straight Talk Product Guide (PDF).

Bank better, starting now.

It only takes a few minutes to open an account.

1. Tell us about yourself.

We'll need some personal details like your address, contact information and social security number.

2. Fund your account.

There’s no minimum amount to open an account, but the faster you fund, the sooner you’ll earn interest.

3. Enjoy our award-winning experience.

Get online access right away and explore everything we offer as well as other ways we can help you reach your goals.

Open New Account

Build a better financial future.

Whether you’re just starting out or nearing retirement, we’ve got resources and tools to help you at any life stage.

Explore Life Stages

The reviews are in.

People like it here. We think you will, too.

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FAQs

We have answers.

You don't have to do anything to get the loyalty reward.

It's automatically added when your CD, including IRA CDs, renew. Want to change terms? No problem. Your loyalty reward will be added to any term you choose for your CD, including IRA CD, at renewal. Check back 30 days before your CD matures to see what the reward is at that time.

To change terms or add funds online: Log in, choose Manage CDs. From there, you can make changes or add funds to your balance.

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

For all CDs purchased or renewed before 12/7/2013, this table shows the penalty you could be charged, depending on your CD term, if you withdraw from your CD early.

All CDs Purchased or Renewed Before 12/07/2013
All CD terms	60 days of interest

For all CDs purchased or renewed on or after 12/7/2013, this table shows the penalty you could be charged, depending on your CD term, if you withdraw from your CD early.

CDs purchased or renewed on or after 12/07/2013, the penalty depends on your term.
24 month or less	60 days of interest
25 month - 36 month	90 days of interest
37 month - 48 month	120 days of interest
49 month or longer	150 days of interest
11 month (No Penalty CD)	You can withdraw funds any time after the first 6 days from funding.

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 offer a promotional term featuring all the benefits of a high-yield CD, available for a limited time. Don't miss our special 13-month and 20-month Select CD offers, going on now.

13-month offer
20-month offer

Still have questions? Visit our Help Center .