On an 18-month certificate of deposit (CD), rates are typically higher than shorter-term CDs. However, there are important considerations to think about before committing to any CD term.


Most CDs have fixed terms, meaning you can't withdraw money from the account without paying an early withdrawal penalty until the CD matures. If you're saving for a specific goal—such as a wedding, property taxes or a vacation—you most likely know exactly when you'll want to withdraw your money.

On the other hand, if you're not sure when you will need access to your money, you may want to consider options that give you more flexibility. Opening a shorter-term High Yield CD from Ally Bank still means you get rates that are among the most competitive in the country.

Another choice is the No Penalty 11-Month CD, which allows you to withdraw all your money, including interest earned, without any penalty, any time after the first six days following the date you fund your account.

Rising Rates

If you want to put your money into a CD, but you’re concerned rates may rise during the CD term, you still have options:

  • Ally Bank Raise Your Rate CDs: With these CDs, you have the option of a one-time rate increase if our 2-Year CD rate goes up; you have the option to increase your rate twice (two times) if our 4-Year CD rate goes up.
  • CD Ladders: Instead of putting all of your money in one CD, you can divide your deposit between CDs of varying term lengths.

CDs can be a great way to help you reach your financial goals. Learn more by visiting Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.

Ally Bank, Member FDIC

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