Ally Bank has many options for the average investor. They offer some of the most competitive CD rates on the market today. Ally Bank offers certificate of deposits from 3 months to as long as 60 month (5 Years). Ally Bank also offers a ‘Raise Your Rate CD’ and they also have a ‘No Penalty CD’, meaning that you can close the CD without paying part of your interest back. One of the issues with longer term CDs is that if you want to close the CD early, you will have to pay an ‘Early Withdrawal Penalty’ for taking your money out. Here is a list of the most common CD Early Withdrawal Penalties:

• 30 days = All Interest
• 2-18 Month CDs = 3 Months Interest
• 2 Years+ CDs = 6 Months Interest

Some banks have stricter penalties, so be sure to read the fine print!

Ally Bank’s No Penalty CD is only available in the 11 Month term, with a current rate of 1.35 percent. This is a pretty good rate since you can take your money out at any time after the first 6 days without paying a penalty. This 11 Month CD currently beats many 12 Month CDs from major banks, Credit Unions are the exception.

Ally Bank’s Raise Your Rate CD is only available for the 2 Year term, with a rate of 1.92%. With this CD, you have the option of raising your rate once within the 2 year term. If rates go higher than 1.92% you can bump your interest rate up to the higher level.

Here is a list of all of Ally Bank’s CD Rates:

• 3 Month Bank CD Rates – 0.69% APY
• 6 Month Bank CD Rate – 1.14% APY
• 9 Month CD Rate – 1.00% APY
• 12 Month CD Rates – 1.48% AP
• 18 Month CD Rate – 1.60% APY
• 3 Year CD Rate – 2.24% APY
• 4 Year CD Rate – 2.46% APY
• 5 Year CD Rate – 2.94% APY

CD Rates are constantly changing, so to find the most up to date rates, visit Ally.com