Finding high CD rates alone won't always help you make the most of your certificate of deposit. The reason? Some terms may be hiding in the fine print. Before you buy, be sure you understand things like:

  • The early withdrawal penalty: Granted, you likely will do whatever you can to avoid withdrawing your CD early, but many bank CDs come with early withdrawal penalties. If there's a chance you might want to withdraw the funds in your CD before it matures, consider the Ally Bank No Penalty CD. With the No Penalty CD, you get a CD that allows you to withdraw all your money, including interest earned, without penalty, any time after the first six days following the date you fund your CD.
  • Exceptions, conditions and other limits: Some banks reserve their highest CD rates for accounts with large balances or very long terms. You also may find that some rates are only good for residents of a certain state or even that the bank can "call" the CD before the maturity date.

Bottom line: Be sure you know what you're getting with a CD before you open an account based on the highest CD rates. With Ally Bank, you'll get some of the most competitive interest rates available, as published by, as well as a straightforward approach to help you get the most from your money. Learn more at or call live, 24/7 customer care at 877-247-ALLY (2559) today.

Ally Bank, Member FDIC

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