Comparing CD rates is one of the first steps many people take when deciding which CD to choose. After all, the higher the CD rate, the more quickly you can expect your money to grow. In the past, if you wanted to investigate interest rates you had to visit bank branches, check the newspaper or call different banks. Today, technology has made comparing CD rates simpler.
On Allybank.com, you can find and compare our rates with those offered by our major competitors. Just click the "compare" tab on the page, select the term of the CD you're interested in, and compare rates right on our site. There are a number of other websites that can help you compare CDs, including Bankrate.com, MyBankTracker, Go BankingRates, and MoneyRates.com.
Beyond Comparing CD Rates
While comparing CD rates is an important step in deciding which CD to choose, there are other factors to consider. Not every CD is designed to meet the specific savings goals you have in mind, and sometimes what seems to be a great rate comes with conditions or requirements you may not find favorable.
At Ally Bank, we offer three types of CDs:
- High Yield CD—A CD with our fixed rate for a fixed term.
- No Penalty CD—A CD that allows you to withdraw all your money, including interest earned, without any penalty, any time after the first six days following the date you fund your account.
- Raise Your Rate CDs—With these CDs, you have the option of a one-time rate increase if our Ally 2-Year CD rate goes up; you have the option to increase your rate twice (two times) if our Ally 4-Year CD rate goes up.
With every Ally Bank CD, there's no minimum deposit to open your account and we compound interest daily to maximize growth. Learn more at Allybank.com or call live, 24/7 customer care at 877-247-ALLY (2559).