CDs

APY vs. APR: What’s The Difference?

Annual percentage rate (APR) and annual percentage yield (APY) can be two confusing financial concepts, but understanding the difference can help you make better, more informed financial decisions. When you compare APR vs. APY, you should know that when people talk about saving money, they commonly use the term APR when referring to the periodic […]

CDs

Retirement Income Needs: Are 1-Year IRA CD Rates Enough?

When considering putting money into a 1-Year IRA certificate of deposit (CD), rates are probably the first thing you want to look into. While IRA 12-Month CD rates may vary among financial institutions, there's no denying that collecting any sort of interest on your savings is a good thing. But how do you know when […]

CDs

Are Ally Bank CD Rates Competitive?

Shopping for a certificate of deposit (CD) can be a challenge. Many banks offer different kinds of CDs, and often there's a lot of fine print to read. At Ally Bank, we keep it straightforward. Ally Bank CD rates are consistently among the most competitive in the country according to rates published by Bankrate.com, and […]

CDs

How Bank CDs May Fit Into Your Retirement Portfolio

You spend years saving for retirement. It's only natural that you would want to keep those assets safe. As long as security is a priority, bank certificates of deposit (CDs) can play a key part in your retirement portfolio. Many retirees want to have a varied, balanced retirement portfolio that includes not only stocks or […]

CDs

What’s a ‘No-Penalty’ CD?

With a traditional certificate of deposit (CD), you agree that you will not withdraw your initial deposit until the maturity date, which could be anywhere from a few months to several years after you open the account, depending on the term you choose. You can close a CD before the term ends, but you typically […]

CDs

Still the Surest Way to Grow My Money? A Look at Various Bank Rates: CDs

Although past performance is not necessarily an indicator of future performance, when you're comparing bank rates for certificates of deposit (CDs,) a little historical perspective can be quite useful. To avoid the hassle of constantly moving your money to chase higher CD rates, look for a bank that offers consistently competitive rates. Ally Bank Is […]

CDs

Is a 4-Year CD Worth the Wait?

Certificates of deposit (CDs) with longer terms generally have higher rates than those with shorter terms. But is locking into a 4-year CD rate a good idea? That depends on your financial goals. When you open a CD, you agree that you will not withdraw the funds until the maturity date, which varies from a […]

CDs

6-Month CD Rates: Highest Isn’t Always Best

These days, it's more important than ever to get your money performing for you with smart financial strategies. When looking into 6-month CD rates, you'll see the highest annual percentage yields (APYs) attract a lot of attention. You may be able to find even better rates, either with longer-term CDs or a different kind of […]

CDs

How 6-Month CDs Can Help You Plan for Major Family Gifts

While some of the money management skills you need in life should be learned at an early age, some of us aren't as financially literate as we could be. Fortunately, it's never too late to introduce—or even reintroduce—the basics of saving to your family. For some, starting with a goal in a 6-month time period […]

CDs

A CD Laddering Strategy Might Be Right for You

When it comes to building a steady stream of interest income over time, bank certificates of deposit (CDs) and a laddered CD strategy can be a good option. When you open a CD, you agree that you will not withdraw the funds until the maturity date, which varies from a few months to several years […]