Pros and Cons of Certificates of Deposit (CDs)
A certificate of deposit (CD) might seem like an easy, safe way to stash your savings and earn some interest while you’re at it, but finding the right tool depends on your unique financial situation and the goals you may have for the savings you’re stashing. So how do you know if a CD is […]
What is a CD: Answering Your Top 10 Certificate of Deposit FAQs
With all the talk of interest rates, economic forecasts and more, you might feel a little stuck when it comes to your money. But no matter the market, one thing you can count on is that saving is always a good idea. And while they may not grab headlines, certificates of deposit (CDs) remain one […]
Choose Your CD: 3 Steps to Finding the Perfect Fit
Certificates of deposit (CDs) used to be one-size-fits-all. (Has that ever really worked out?) Times have changed, and now you can find different types of CDs with a variety of terms tailored to your personal savings goals. With a little know-how about CDs, you can make an informed decision that works with your own terms. […]
CDs vs. Savings: Where to Age Your Money for Your Short-Term Goals
Choosing between CDs and savings accounts can be a lot like choosing a wine: It all depends on your taste and what you’re pairing it with. Like wine in your pantry, your savings balance is easier to access for immediate needs, and it can still improve significantly in 12 months, if it’s in the right […]
How Risky Are Certificates of Deposit?
Life is all about balancing risks and rewards — especially when it comes to your finances. You want your money to earn interest at the highest rates, but you also want to safeguard your principal. Generally speaking, high-risk investments — like some stocks and bonds — yield higher returns than FDIC-insured bank products — like […]
Give Your Returns a Boost: How to Build a CD Ladder With the Ally Bank CD Ladder Tool
Laddering CDs (certificates of deposit) might sound complicated, but it’s a pretty simple way to help your savings perform smarter for you. With a CD ladder, you can take advantage of the higher rates generally offered by long-term CDs and still maintain regular access to your money. The basic idea is to open several CDs […]
3 Sweet Things to Know About Our No Penalty CD
Do you want to eat your cake and have it, too? Well, maybe you can—at least when it comes to savings options. If you like the fixed-rate security of certificates of deposit (CDs), but you’re worried about things like early withdrawal penalties or minimum deposit requirements, look no further. At Ally Bank, we’re used to […]
7 Ways Our Raise Your Rate CD Can Help You Boost Your Savings
Saving money in a certificate of deposit (CD) can be a smart way to keep yourself from dipping into it prematurely. It’s like putting a lock on the cookie jar to keep you from being tempted. But one catch with traditional CDs is that fixed interest rates may cause you to miss out—if CD rates […]
Earning a Reasonable Interest Rate – Savings Ins and Outs (Part 2)
The truth is, there's no need to settle for a meager annual percentage yield (APY) when it comes to savings. You can look beyond traditional banks to find rates that will put your savings to work for you. The case for savings. A savings account keeps your money at your disposal to withdraw when you […]
Keep This in Mind When Comparing CDs
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, […]
