If you need access to your money before your CDs mature, there may be an early withdrawal penalty. You can also explore our No Penalty CD, which allows you to pull money penalty-free.
Since the CDs in a ladder have staggered maturity dates, you can have regular penalty-free access to a portion of your money as each CD within the ladder matures.
With Ally Bank's 10-Day Best Rate Guarantee, you automatically get the best rate we offer for your CD during the first 10 days, starting with your open or renewal date, if you fund your CD within that time. This guarantee does not apply to interest rate increases for the Raise Your Rate CD.
If your CD ladder includes our Raise Your Rate CD, you’ll have the opportunity to raise your rate once over the 2-year term or twice over the 4-year term, if our rates increase on those CDs.
Decide how much money you want to put away. There’s no minimum deposit with us, so you can put away as much or little as you want.
Select your CDs. Once you’ve settled on an amount, you can pick how many CDs you want to spread it across – and the types you’ll want to leverage. Check out what we offer
Open your CDs with staggered term lengths. Figure out what lengths work best for your financial needs.
Let your ladder climb. Once it’s set, sit back and watch your interest accrue.
When a CD reaches maturity, renew it or access your cash. Renew your CD to keep your ladder building or use your funds penalty-free.
A CD ladder is a group of CDs that have strategically staggered maturity dates. This staggered approach provides a few benefits:
Flexibility: Make your CD ladder as long term or short term as you need.
Access: Have steady access to a portion of your money across the life of your ladder.
Stability: CDs offer guaranteed returns, not to mention they’re FDIC insured up to the maximum allowed by law.