Raise Your Rate CDs, available for either two- or four-year terms, allow customers to increase their CD rate (4.00% APY) one to two times, depending on the CD’s term length, if rates go up on CDs.
Early withdrawal penalties on Ally CDs range from 60 days’ interest to 150 days’ interest, depending on your CD term.Īlso available from Ally Bank are two other CD types: Raise Your Rate CDs and No Penalty CDs. Like most banks, Ally Bank charges a penalty any time you withdraw funds before your CD reaches maturity. During the grace period, you can also choose to change term lengths, add or withdraw funds, or close the CD. Interest on Ally CDs compounds daily and is either credited to your account annually or at maturity, depending on your term length.Īlly CDs automatically renew following the 10-day grace period after the maturity date. Ally Bank offers high-yield CDs with competitive rates and no minimum deposit requirement.
