Saving money is vital to staying afloat in hard times, but it can sometimes be difficult to find the discipline to stash away a portion of your earnings for long-term goals. One tool that can help give you structure and discipline to your savings strategy is a certificate of deposit (CD).

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 after you open the account, depending on the term you choose. Your funds in CDs are insured by the Federal Deposit Insurance Corporation (FDIC) up to the maximum amount allowed by law. CDs are offered by most banks, including online banks like Ally Bank. According to, online banks typically offer higher CD interest rates compared to traditional, brick-and-mortar banks.

At Ally Bank, for example, you can open and fund your CD account with any amount while earning a great interest rate. You can transfer funds from an existing account to fund your CD, or you can open an account by mail and include an initial deposit amount via personal check. We also make it easy to manage your account; you can check its progress at any time. Once your CD reaches maturity, you have the option of renewing the CD, transferring the funds into another CD or withdrawing the money.

If your savings goals are to build your funds over time, rolling the funds over to a new CD can offer you the discipline needed to reach your long- term savings goals.

Regardless of your current savings situation, Ally Bank has the tools to help you save for what's ahead. Visit to learn more, or speak with live, 24/7 customer service at 877-247-ALLY (2559) today.

Ally Bank, Member FDIC

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