What's a 'No-Penalty' CD?

Great Rate. No Early Withdrawal Penalty. Open Yours at Ally Bank Today.

With a traditional certificate of deposit (CD), you agree that you will not withdraw your initial deposit until the maturity date, which could be anywhere from a few months to several years after you open the account, depending on the term you choose. You can close a CD before the term ends, but you typically will pay an early withdrawal penalty for doing so.

However, with the Ally Bank No Penalty CD, you get a CD that allows you to withdraw all your money, including interest earned, without a penalty, any time after the first six days following the date you fund your account. You get the same security and predictability found in traditional CDs in that you know ahead of time precisely what you will earn at maturity.

With Ally Bank's No Penalty 11-Month CD, you get a rate that's among the most competitive in the country based on the rates published at Bankrate.com. Plus, your deposits at Ally Bank are FDIC-insured to the maximum amount allowed by law.

Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.