When it comes to growing your money, a certificate of deposit (CD) can be one of the most reliable options available. Rather than keeping funds in checking or savings, drawing relatively little interest, you can earn a higher interest rate while still enjoying the security of FDIC insurance. But to make the most of your CDs, keep in mind that longer terms generally mean better rates, which means five-year CD rates often exceed those of shorter-term CDs.
While many banks require a minimum opening deposit, you can open and fund an Ally Bank CD with any amount, and earn the same great rate regardless of your opening deposit amount. Our High-Yield CDs offer you a competitive fixed rate, compounded daily to help your money grow faster.
Another approach to long-term saving with CDs is to opt for a CD ladder. A CD ladder can help you tap into great rates while ensuring that a portion of your money becomes available every year or so.
Like other FDIC-member banks' CDs, your deposits are insured by the FDIC up to the maximum allowed by law. In addition, our Ally Ten Day Best Rate Guarantee ensures you get the best five-year CD rates available. Visit Allybank.com to learn more, or speak with live, 24/7 customer service at 877-247-ALLY (2559) today.
Ally Bank, Member FDIC