There are many approaches to growing your savings, from hiding money in your mattress to taking a chance with a high-risk investment. Depending on your financial goals, you may find that the best approach to saving money is somewhere in between. High yield certificates of deposit (CDs) appeal to those looking to optimize the cash portion of their savings without unnecessary risk.
Get the Advantage With Ally Bank
Consider an Ally Bank High Yield CD, which offers a great interest rate as well as a built-in savings incentive. When you open a CD, you agree that you will not withdraw the funds until the maturity date. You can close a CD before the term ends, but you typically will pay an early withdrawal penalty for doing so.
Other Types of Ally Bank CDs Available
In addition to the High Yield CD, you may want to look into the Ally Bank No Penalty CD. With it, 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. Our Raise Your Rate CDs are another popular CD savings choice. 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. Finally, you can also open a High Yield CD or Raise Your Rate CD as an IRA to get the benefits of our great rates plus tap into the potential tax benefits that come with IRAs.
Visit Allybank.com or call live, 24/7 customer support at 877-247-ALLY (2559) to learn more today.
Ally Bank, member FDIC