Are CDs Right for You? Weigh the Pros and Cons to Decide
A certificate of deposit (CD) is an easy, safe place to stash your savings and earn some interest while you’re at it. But CDs have some features that may not work for your situation. So how do you know if a CD is right for you? When you have an important decision to make, especially […]
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 work harder 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 […]
What Is a CD? Everything You Ever Wanted to Know About Certificates of Deposit
Do you have the feeling you could be doing a little bit more with the money in your savings account? If you like the security of having money in the bank—safely earning interest—but want to expand your savings skill set, you’ve come to the right place. Certificates of deposit (CDs) can be great for building […]
Finding the Perfect Fit: Which CD Is Right for You?
Certificates of deposit (CDs) used to be one-size-fits-all. (Has that ever worked out?) Times have changed—now you can find different types of CDs with a variety of terms tailored to your personal savings goals. Here’s how to know which CD to get to help you create your own unique savings strategy. Get a handle on […]
One-year CD vs. Savings: What’s Best for Your Short-term Money Goals?
A lot can happen in a year—besides just getting another year older. Your savings balance can grow significantly in 12 months if it’s in the right place at the right time. Certificates of deposit (CDs) and savings accounts are great options for short-term saving, but what’s best for you depends on your goals, the kind […]
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 […]
How to Build a CD Ladder: Tess Wicks Explains
Make your cash work harder in a certificate of deposit–but not just one–ladder your deposits to help diversify your cash investments, reach your savings goals, and get a more secure bang for your buck. What Is a CD Ladder? A CD ladder is built by depositing a sum of money, equally, across multiple certificates of […]
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 […]
