Ally Bank Rate Review
From a bank that attempts to attract savers, the Ally Bank rate review shows its transparent products, such as its certificates of deposit, having very competitive rates. Being an internet bank, you manage your bank account online, by phone, or by ATM. In this site, we will be looking at their current rates for the different CDs Ally Bank offers.
The High Yield CDs are fixed rate CDs with high yields ranging in terms from 3 months to 5 year terms. Some of Ally Bank’s High Yield CD rates are as follows. The 6 months CD has an interest rate of 1.13% with an APY of 1.14%. The 12 months CD has an interest rate of 1.43% with an APY of 1.44%. The 3 years CD has an interest rate of 2.15% with an APY of 2.17%. The 5 years CD has an interest rate of 2.70% with an APY of 2.74%.
Ally Bank’s Raise Your Rate CD is a 2 year high interest rate CD that gives you the flexibility to call for a one-time rate increase if the rates go up during the term. It has an interest rate of 1.78% with an APY of 1.80%.
The No Penalty CD is an 11 months term CD that gives you a great rate and the ability to withdraw your entire balance, including all interest earned, without a fee. It has an interest rate of 1.31% with an APY of 1.32%.
Customers can open any of these CDs with $0 and they do not have monthly fees. However, a fee will be charged to you if you make a withdrawal before the CD matures. Interest is compounded daily for maximum earnings but you need to have money in your account to earn the APYs.
These CD rates were posted August 27, 2010 and are still current and effective August 30, 2010.
Ally Bank rate review shows that since Ally Bank is a direct bank, the savings they make from not having to pay for operating costs allow them to direct that savings toward better rates for their customers to enjoy.
For additional resources about CDs on this website, please view West Virginia CD Rates.
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.
Related posts:
- Ally Bank 11 Month No Penalty CD Rate Increase (1.38% APY)
- Ally Bank Certificate Of Deposit Rates
- 3.09% 60 Month CD at Ally Bank
- Ally Bank CD rates August review 2011
- Ally Bank CDs – 2 Year Bump Up CD
Tags: Ally Bank, bank cd rates, Best CD Rates, CD rate, investing, money
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