When you've decided to save money using high interest rate certificates of deposit, (CDs) or other CD products, your first priority probably is to make sure you get the highest CD interest rate you can find. But how can you be sure that you're making an apples-to-apples comparison when you compare CD rates between different banks?
For starters, remember that not all rates are created equal. Some banks have terms and conditions that quickly offset their "great rates." They may also advertise a rate that's only available to residents of another state or require a higher balance or long-term deposit. Or their "high interest rate CDs" might have an introductory or "teaser" rate for part of the term that drops to a lower rate for the remainder.
In other words, rate shopping is a good place to start, but it's not the place to stop. Ally Bank works hard to help you make informed financial decisions. We never use "teaser rates" and you can open and fund your CD with any amount. You can even compare CD rates at Ally Bank with those of our competitors right on our site.
With a variety of CD products for different needs, you can see how Ally Bank can help make reaching your financial goals easier. Visit AllyBank.com or call live, 24/7 customer care at 877-247-ALLY (2559) today.
Ally Bank, Member FDIC