These days, it's more important than ever to get your money performing for you with smart financial strategies. When looking into 6-month CD rates, you'll see the highest annual percentage yields (APYs) attract a lot of attention. You may be able to find even better rates, either with longer-term CDs or a different kind of savings account. But is APY all there is to it? What's the best possible use of your money?

CD Options in the Short Term
With CDs, the highest APYs generally are associated with longest terms. However, CDs usually come with an early withdrawal penalty, which may be the motivation you need to keep the money safe instead of spending it. After all, earning any interest beats none at all. However, if 6-month CD rates–highest APYs included–are less than impressive, you do have other choices.

Alternatives to 6-Month CDs
If you will need access to your funds in the near future, or if you'd just like to do better than what most 6-month CD rates are paying, consider the following:

  • The Ally Bank Online Savings Account. A simple, safe and easy way to put money to work. The Ally Bank Online Savings Account pays a competitive rate of interest without the monthly maintenance fees and minimum opening deposit requirements you'll find at other banks.
  • The Ally Bank Money Market Account. Money market accounts give you easier access to funds than savings accounts. The Ally Bank Money Market Account pays a competitive interest rate like the Online Savings Account, but it comes with the added convenience of a debit card and checks.
  • The Ally Bank No Penalty 11-Month 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.

The Ally Bank Advantage
Ally Bank offers great rates to everyone with no minimum deposit to open and no monthly maintenance fees. We compound interest daily to help your money grow faster, while other banks may compound weekly, monthly or even annually.

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

Ally Bank, member FDIC

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