Ally Bank 11 Month No Penalty CD Rate Increase (1.38% APY)

The Ally Bank 11 month No Penalty CD rate increase (1.38% APY) went up from a 9 month term with 0.99% APY just a month ago. In May last year, the APY was 2.50% for the 9 month No Penalty CD and although the present APY is still low compared to last year’s, at least it is again higher than the savings account rate. There is now a little incentive to lock in that rate to hedge against continued falling rates.

At Ally Bank, you get a fixed CD rate with the 11 month No Penalty CD. You do not have to jump through hoops and does not require advance written notice for an early withdrawal, if you need the money. You can open a CD with $0 deposit and there are no fees whatsoever. With Ally’s 10-day Best Rate Guarantee, you get the option of a higher rate when you fund your CD within 10 days of opening or renewing your Ally account.

With this 11 month No Penalty CD, you will have the ability to withdraw and receive earned interest as income by letting them know before the CD maturity date or by 10 days after. Your money grows faster by compounding interest daily. Instead of just paying you interest on your initial deposit, the bank also pay you interest on the interest you earn. The 11 month No Penalty CD has an interest rate of 1.37% with an APY of 1.38%. Your term and rate will go into effect when you make your opening deposit. One feature this CD has is the no fee early withdrawal. Ally will hand over your full balance and interest rate after the first six days of funding your CD. This CD automatically renews at maturity.

These CD rates were posted 4/26/2010 and are still accurate and effective 4/27/2010. Please visit their website for more details on the Ally Bank 11 Month No Penalty CD rate increase (1.38% APY).

For additional resources about CD’s on this website about another state please view Best Three Year CD Rates 2010.

The Treasury Inflation-Protected Securities Explained is available on our sister website of onlinebanksblog.com. Also available on the sister site of etfinvestingblog.com is Fidelity ETF

We strive to bring you the latest and most accurate data possible from the home sites of the financial institutions we name. Always remember the bigger the risk, the larger the reward or loss. Invest with caution.

Posted : April 27th, 2010 by Douglas

Tags: Ally Bank, bank cd rates, Best CD Rates, CD rates, investing, money, No Penalty CD

Comments (3)

3 Responses to “Ally Bank 11 Month No Penalty CD Rate Increase (1.38% APY)”

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