Ally Bank CD Rates
While we continue to look at certificates of deposit, we here at the Online Banking Blog knew that we couldn’t overlook the Ally Bank CD rates right now. There are two offers in Ally CD rates that are listed here: Classic CD rates and No Penalty CD rates.
UPDATED RATES: You can check out the Ally Bank CD rates here – ALLY BANK CD RATES. As of July 3, 2009, the Ally Bank CD rates are as follows:
6 Month CD Rates: 1.80 APY
12 Month CD Rates: 2.25% APY
3 Year CD Rates: 2.85% APY
The difference between the two is that the Classic account is a standard certificate of deposit while the No Penalty has a slightly lower interest yield to compensate for allowing you to withdraw from the account once during its term (or close it entirely) without penalty.
The Classic CD rates at Ally Bank are about par with the national average right now, with the shiner being the 1 year term at 2.30% annual percentage yield (APY) and the 3 year at 3.00% APY. All Classic Ally Bank CD rates require only a $1 minimum opening deposit.
For the short-term investor, the six month rate of 1.90% APY is definitely a good one to consider as well. That beats most competitors and is one of the better Ally Bank CD rates right now.
The Ally CD rates for the No Penalty account are for a 9 month term only. The APY is at 2.15%, which is good, and the account requires that you allow it to auto-renew at the standard rate for an additional 12 months after the term is up.
All Ally Bank CD rates can change at any time, as can terms and conditions, so if any of these appeal to you, lock it in now. Ally Bank accounts are FDIC insured.
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