3.09% 60 Month CD at Ally Bank
The 3.09% 60 month CD at Ally Bank is from an internet bank which is a unit of GMAC Financial Services, which became a bank holding in December 2008. GMAC’s banking unit officially changed its name to Ally Bank on May 15, 2009. It is headquartered in Midvale, Utah.
Aside from Ally Bank’s No Penalty CDs and Raise Your Rate CDs, Ally Bank also has its High Yield CDs. The High Yield CDs range from a 3 month term to a 5 year term. This institution’s longest term for a high yield CD is a 5 year or 60 month term. Ally Bank’s 60 month CD has an interest rate of 3.04% with an APY of 3.09%. This rate was posted 3/19/2010 but is still current and effective 3/22/2010.
Unlike other banks, Ally Bank does not require a minimum deposit to open a CD, but of course, you will need to fund your account to earn the APY. Aside from no monthly fees, you also get to have the best rate Ally Bank has to offer with the Ally’s Ten Day Best Rate Guarantee. This means that when you fund your CD within 10 days of opening or renewing your Ally account, you automatically get the best rate during that time period. With the High Yield CDs, your money grows faster by compounding interest daily. This is interest that is calculated not only on the initial principal but also previously accumulated interest. The more often your interest is compounded, the more it grows.
Visit their website for more details on Ally Bank’s other CD terms and CD rates. Like all the other High Yield CDs, the 3.09% 60 month CD at Ally Bank automatically renews at maturity and is FDIC-insured.
For additional resources about CD’s on this website, please view Best CD Rates by Term. For other financial institution rates please check out Best CD Rates in Colorado.
The Best CD Rates March 2010 is available on our sister website of onlinebanksblog.com.
We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name.
Related posts:
- Ally Bank 11 Month No Penalty CD Rate Increase (1.38% APY)
- Ally Bank CDs – 2 Year Bump Up CD
- Ally Bank Certificate Of Deposit Rates
- Ally Bank Rate Review
- Ally Bank Small Penalty Certificate of Deposit (CD)
Comments (0)
Leave a Reply
CyberCoder Tag Theme by CyberCoder
WordPress Powers Best CD Rates