RateAPY

Ally Bank Offers 12-month CD at 2.00% APY and Ten-Day Protection Against Rising Rates

Posted by: RateAPY Bank Rates News
October 22nd, 2009

Developing a secure savings plan is a priority for most families, and a certificate of deposit (CD) can be a great fit for an investment portfolio: CDs are FDIC-insured up to standard limits and typically offer a higher interest rate than regular savings accounts. Investors should compare CD quotes to get the best rate.

Ally Bank Ten-Day Guarantee

Particularly with interest rates potentially poised to rise with signs of economic recovery, you may be concerned about locking money into a CD only to see rates rise immediately. Ally Bank’s 12-month CD comes with a 2.00% APY and something special: a 10-day guarantee that the CD will have the highest interest rate available within the first 10 days of funding or renewing the account.

Current Ally Rates

In addition to the 12-month CD, Ally Bank is offering the following CD terms and rates:

• 3-month CD rate: 1.19% (1.20% APY)
• 6-month CD rate: 1.54% (1.55% APY)
• 9-month CD rate: 1.59% (1.60% APY)
• 1-year CD rate: 1.98% (2.00% APY)
• 1.5-year CD rate: 1.98% (2.00%APY)
• 2-year CD rate: 2.27% (2.30% APY)
• 3-year CD rate: 2.66% (2.70% APY)
• 4-year CD rate: 2.91% (2.95% APY)
• 5-year CD rate: 3.34% (3.40% APY)

Savers searching for the best CD rates should check to make sure interest is compounded daily and that no fees are charged except for early withdrawal.