What if you don't have the time or interest to devote to daily or even weekly management of your money, but still want a decent return? You might look into certificate of deposit (CD) interest rates.
Certificate of deposit interest rates are secure—and so is your principal.
CDs offer a low-risk way to balance your overall approach to saving and investing against some kinds of higher-risk investments you may have in your portfolio. It's simple: Once you select your certificate of deposit interest rate, you typically know exactly what your annual percentage yield (APY) will be over the term of the CD, provided you don't make any early withdrawals. Your principal is also secure at FDIC-member banks because the FDIC insures your deposits up to the maximum amount allowed by law.
Looking for convenience? Consider an Ally Bank High Yield CD.
With Ally Bank High Yield CDs, you choose the term length that best fits your goals—anywhere from 3 to 60 months. You can even open several CDs and stagger the maturity dates so that your cash is available on a regular basis for your use or for putting right back into new CDs. This is called laddering, and it offers a way to always have cash on hand to deposit in potentially higher-yield, longer-term CDs.
Keeping an eye on the market? Check out the Ally Bank Raise Your Rate CDs.
If you do tend to keep an eye on overall rates, you may want to allow yourself the opportunity to move up to a higher certificate of deposit interest rate if rates move up during your CD's term. Ally Bank Raise Your Rate CDs give you the option of increasing your rate once over the 2-year term or twice over the 4-year term if our rate for your term and balance tier goes up on these CDs.
Find great rates now.
Ally Bank offers CDs in a wide range of terms to help you reach your savings goals. There's no minimum deposit to open and all of our CDs are backed by the Ally Bank Ten Day Best Rate Guarantee. Whether you're interested in our High Yield CD, No Penalty CD or Raise Your Rate CD, you'll get rates that are among the most competitive in the country and customer service that makes managing your CDs as simple as possible. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.