Most banks—including Ally Bank—are members of the Federal Deposit Insurance Corporation (FDIC), so customer’s certificates of deposit are FDIC insured up to the maximum amount allowed by law. It’s rare that you’ll find a bank that isn’t a member of the FDIC, but not impossible, so before you deposit money, you should check to be sure. If you can’t find “Member FDIC” somewhere on the bank’s site with a link to more information, check with the FDIC directly.
Ally Bank CDs can be a great way to save your money, and online banks like Ally Bank generally offer better rates than their brick-and-mortar counterparts. In fact, Ally Bank offers some of the most competitive rates available, as published by Bankrate.com
And because Ally Bank customers’ certificates of deposit are FDIC-insured, your initial deposit and any interest you earn is protected up to the maximum amount allowed by law.
Ready to open an FDIC-insured CD? With a range of CD products to choose from, you’re sure to find an Ally Bank CD that will help you reach your savings goals. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.