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IRA Raise Your Rate CD FAQs

  • What is Ally's IRA Raise Your Rate Certificate of Deposit?

    Our IRA Raise Your Rate Certificate of Deposit is a high interest CD that gives you the flexibility of increasing your rate to our current interest rate if it goes up during your term.

    With our IRA Raise Your Rate 2 year CD, you have the option to increase your interest rate once; with our IRA Raise Your Rate 4 year CD, you can increase your interest rate twice.

  • Does Ally's IRA Raise Your Rate CD come with your Ten Day Best Rate Guarantee?

    With our Ally Ten Day Best Rate Guarantee, when you renew your IRA CD you automatically get the best rate we offer within ten days beginning with the CD renewal date. Most banks offer only one rate — the one you get the day you renew. This guarantee does not apply to interest rate increases for the Raise Your Rate CD.

  • What happens if the IRA CD rate changes after I open a new account?

    With Ally's IRA High Yield Certificate of Deposit and IRA Raise Your Rate Certificate of Deposit, you get the best rate we offer on the day you open your CD or the day you fund — whichever is higher — when you fund within 90 days of opening the CD. With our IRA Raise Your Rate CD, you get the added ability to call us for a rate increase if our rates go up any time during the CD's term.

    If your CD has not been funded after 90 days, we will close it.

  • Are there any fees to open or maintain an IRA certificate of deposit?

    There are no opening fees and maintenance fees for an IRA certificate of deposit.

  • What is the minimum deposit for an Ally IRA Certificate of Deposit?

    There is no minimum deposit to open our IRA High Yield Certificate of Deposit or IRA Raise Your Rate Certificate of Deposit.

  • Can I add additional funds to an IRA certificate of deposit?

    No. Additional funds cannot be added during the initial term of any of our IRA certificate of deposit options. Once the certificate of deposit matures, however, you have the opportunity to deposit additional funds and roll over the CD into a new term. This can be done during the 10-day grace period, starting with the maturity date. Annual IRA Contribution limits may apply. Consult your tax professional for advice.

  • What are the current rates on IRA certificates of deposit?

    You can view our current rates by visiting our IRA High Yield Certificate of Deposit and IRA Raise Your Rate Certificate of Deposit pages. You can also call us at 1-877-247-ALLY (2559). Rates may be updated daily.