Buying a bank CD, or certificate of deposit, can be good way to keep your money safe while it earns interest. CDs typically offer higher rates than savings accounts, which helps your money grow faster. Our CDs come with a variety of benefits and terms to fit your financial plan. Here are three reasons to consider an Ally Bank CD:

1. Great Rates

Ally Bank is an online bank, which means we don’t have the overhead costs of traditional brick-and-mortar bank branches. Instead, you bank with us online, through the mail or over the phone. We pass what we save on operational costs on to customers in the form of great rates.

In fact, Ally Bank CD rates are consistently among the most competitive in the country according to Bankrate. And while some banks offer a better Annual Percentage Yield (APY) only when you make a huge deposit, you can open and fund an Ally Bank CD with any amount and still get our best rate, backed by our Ten Day Best Rate Guarantee. See our rates at, or subscribe to our RSS feed for the latest information.

2. Versatility

Regardless of your financial plan, there's an Ally Bank CD to help you reach your goals:

  • High Yield CD: A CD with our highest fixed CD rate for a fixed term—anywhere from three months to five years.
  • No Penalty CDs: The Ally Bank 11-month No Penalty CD 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.
  • Raise Your Rate CDs: With our Raise Your Rate CDs, you have the option of a one-time rate increase if our Ally 2-Year CD rate goes up; you have the option to increase your rate twice (two times) if our Ally 4-Year CD rate goes up.

3. Customer Service

With an Ally Bank CD, you can expect great rates, a full line of CD choices and convenient customer service. You can open your account directly on our website at, through the mail or by calling live customer care any time, 24/7 at 877-247-ALLY (2559).

Ally Bank, Member FDIC

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