Opening a Certificate of Deposit (CD) account with Ally Bank is a straightforward process, even if you're new to the world of online banking. First, visit to familiarize yourself with our Ally Bank CD products. Then, open your account online with any amount and simply send us a check or arrange to have your funds deposited electronically.

Ally Bank offers several types of CDs:

  • High Yield CDA CD with our fixed rate for a fixed term
  • No Penalty CDA 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 CDsWith these CDs, you have the option of a one-time rate increase if our Ally Bank 2-Year CD rate goes up; you have the option to increase your rate twice (two times) if our Ally Bank 4-Year CD rate goes up.

Our online CD calculator can help you get a sense of how much interest you'd earn in various types of Ally Bank CD products, and over what time period.

Three more reasons to consider an Ally Bank CD:

  • Our Ally Ten Day Best Rate Guarantee gives you the best rate we offer for your CD term during the ten days starting with your CD open date, provided you fund your CD within that time.
  • We grow your money faster by compounding interest daily. Many others compound monthly, quarterly or even annually.
  • We don't require a minimum deposit to get great rates.

Explore your options at or call live, 24/7 customer care at 877-247-ALLY (2559) today.

Ally Bank, Member FDIC

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