With interest rates on certificates of deposit (CDs) constantly changing, you may wonder whether you should take advantage of the best CD rates available today. It's reasonable to be concerned about missing out on future opportunities, but that shouldn't stop you from benefiting from great rates, either now or in the future. Here are some strategies to help you navigate through the uncertainty and maintain some of the flexibility you need.

Go short. Even though you'll usually receive the highest interest rates on CD terms extending one year or longer, if you anticipate needing funds available for an upcoming expense, it might make sense to shop for a great CD rate with a shorter term. Ally Bank offers several options, with competitive rates on a variety of term lengths and no minimum opening deposit requirement.

Just say "no penalty." CDs usually carry a penalty for withdrawing your money early. This provides a built-in incentive to stay the course and get the full return on your CD. However, if flexible access to funds is your primary concern, take a look at Ally Bank’s No Penalty CD. This CD allows you to withdraw all your money, including interest earned, without any penalties, any time after the first six days following the date you fund your account.

Get a raise. Another option that might put your mind at ease is the chance to raise your rate if a better one comes along. With the Ally Bank Raise Your Rate CDs, you have the option of a one-time rate increase if our 2-Year CD rate goes up; you have the option to increase your rate twice (two times) if our 4-Year CD rate goes up.

Ladder up. Creating a CD ladder involves opening several CDs in a variety of terms, so that each rung of the "ladder" matures at different intervals, allowing you periodic access to your funds.

Keep watch. You may want to keep an eye on how annual percentage yields (APYs) are trending so you can plan your next move. Sites like Bankrate.com offer easy comparison tools, and you can subscribe to the Allybank.com RSS feed to stay up on our rates, which are consistently among the most competitive in the country.

Ally Bank has a number of CD options to help you make the most of your savings. Learn more at AllyBank.com or call live, 24/7 customer care at 877-247-ALLY (2559).

Ally Bank, Member FDIC

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