What should you consider when you do a certificate of deposit comparison? Certificates of Deposit (CDs) are a fairly straightforward way to save money, but there still are a few things to keep in mind when shopping for one.
For example, if you come across a CD that is offering a dramatically higher interest rate, keep in mind it might be temporary or only apply in certain conditions. It could also be a sign that what you're considering purchasing isn't actually an FDIC-insured CD. As the Federal Deposit Insurance Corporation (FDIC) reports, “Not all companies with bank-sounding names are actually banks or are insured by the FDIC.”
At Ally Bank, all of your accounts are FDIC-insured up to the maximum allowed by law, including our CDs. Plus, Ally Bank CDs have some of the most competitive rates in the country. Take a look at the range of CDs we offer and find one that fits your savings goals:
Learn more at Ally.com or call live, 24/7 customer support at 877-247-ALLY (2559) today.