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With our Raise Your Rate CD, you have the option to raise your rate once over the 2-year term and twice over the 4-year term, if our rates on these CDs go up. There’s no fee to request this rate increase.

We'll let you know when you can raise your rate by displaying a message at the top of your Account Details page. You can set up a custom rate alert in online banking.

If the current rate we offer for your term and balance tier is higher than your interest rate and you're eligible for a rate increase, you can raise your rate in one of the following ways:

1. Log in to online banking and raise your rate on your account details page
2. Chat with us online
3. Call us at 1-877-247-2559

Once we receive your request, you'll get the highest rate we offer for your term and balance tier that day, and your new rate will go into effect the next business day. There's no fee to request this rate increase.

Yes. The Ten Day Best Rate Guarantee gives you the best rate we offer for your CD during the first 10 days starting with your open date if you fund your CD within that time. The Ten Day Best Rate Guarantee also applies at renewal.

This guarantee does not apply to interest rate increases for the Raise Your Rate CD. When you raise your rate, you get the highest rate we offer for your CD term on the day of your request.

The penalty depends on your term.

The penalty is calculated using the interest method detailed in the Ally Bank Deposit Agreement(PDF). It's first deducted from the accrued interest and then, if necessary, the principal. Keep in mind, you can't make a partial early withdrawal.

For Raise Your Rate CDs, the penalty is calculated using the interest rate in effect on your account on the day you request an early withdrawal.

If the account owner passes away or is judged legally incompetent, we'll waive the early withdrawal penalty.

To make an early withdrawal, log in to online banking. Choose More, and then select Manage CDs to select Early Withdrawal.