Should I Auto-Renew My Bank Certificate of Deposit?
Great Rates Now and Later
A bank certificate of deposit, or CD, can be a helpful tool when it comes to saving money. It offers the kind of security that you can only get with an FDIC-insured product coupled with a competitive interest rate. Having a CD usually involves giving up access to your money until the CD matures. At that point, many people find it's best to renew the CD and continue earning interest on that money. What many people don't know is that you can automatically renew your CD, making saving that much easier.
At Ally Bank, if your CD matures and we don't hear from you, we'll automatically renew it to make sure your money is secure and working for you. We offer some of the most competitive rates in the country according to rates published by Bankrate, and we compound interest daily for maximum earnings.
If you're thinking about putting your money into a bank certificate of deposit, take a look at what Ally Bank has to offer. You can open and fund a CD with any amount and your funds are insured by the Federal Deposit Insurance Corporation up to the maximum allowed by law. Plus, we offer three types of CDs to help you save: High Yield CDs, Raise Your Rate CDs, and No Penalty CDs.
Learn more by visiting Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.
Ally Bank, Member FDIC