Ally Bank CD rates
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Ally Bank, an online bank, offers three types of certificates of deposit (CDs): traditional, no-penalty and raise your rate CDs. None have a minimum balance requirement or monthly fee.
Ally Bank earned high marks across its deposit products, including CDs, in our review. Ally was also named the best bank overall as part of the 2024 Bankrate Awards.
Ally Bank CD interest rates
Here’s a closer look at Ally Bank’s CD rates. The rates on Ally’s traditional high-yield CDs are competitive. The rates on the bump-up and no-penalty CDs are somewhat lower, but still well above the national average.
High Yield CD
Ally’s High Yield CD is a standard CD with APYs that vary with term length.
| Institution | Term | APY | Min. deposit |
|---|---|---|---|
| Ally Bank | 3 months | 3.00% APY | $0 |
| Ally Bank | 6 months | 4.30% APY | $0 |
| Ally Bank | 9 months | 4.20% APY | $0 |
| Ally Bank | 1 year | 4.10% APY | $0 |
| Ally Bank | 18 months | 3.90% APY | $0 |
| Ally Bank | 2 years | 3.50% APY | $0 |
| Ally Bank | 3 years | 3.50% APY | $0 |
| Ally Bank | 4 years | 3.50% APY | $0 |
| Ally Bank | 5 years | 3.50% APY | $0 |
Note: Annual percentage yields (APYs) shown for Ally’s High Yield CD were last updated on Nov. 18, 2024 and may vary by region for some products. Ally’s two and four-year CDs are Raise Your Rate CDs.
No Penalty CD
Ally’s No Penalty CD doesn’t charge an early withdrawal penalty if a withdrawal is made six or more days after funding the CD. Just one term is available.
| Account name | Term | APY | Minimum deposit |
|---|---|---|---|
| No Penalty CD | 11 months | 4.00% | $0 |
Note: Ally currently offers a .05 percent loyalty reward when renewing a maturing CD. Annual percentage yields (APYs) shown for Ally’s No Penalty CD are as of Nov. 18, 2024 and may vary by region.
Rate history for Ally Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
How Ally Bank rates compare with top-yielding banks
Ally’s CD rates are competitive. Ally has slightly fewer options for long-term CDs than some other banks, but it’s still easy to establish a CD ladder.
Online banks such as First Internet Bank and Popular Direct offer higher rates on a one-year CD, for instance. But unlike Ally, they also have minimum deposit requirements.
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