Ally CD Rates

January 4, 2010

Since we’re always looking for the Top CD Rates here, we thought we should have another look at Ally Bank CD rates, since they often have the top CD rates available.

Midvale, Utah-based Ally Bank has introduced some of the highest profit margins on investments. Ally CD rates are applicable on any type of investment, irrespective of the balance amount. The bank does not ask for any minimum balance at the opening of CD accounts.

Ally Bank CD rates are following generally fixed rates in recent years and the bank has started giving these certificates with an APY of 1.84% for a 12-month term. CD rates at Ally Bank for a 3-month CD will have an APY of 1.00%. A 6-month CD will return 1.40% APY and 9-months CD will return 1.20%.

Ally certificate of deposit rates increase with longer terms of investments. A 2-year certificate will return an APY of 2.19% whereas a 3-year certificate returns 2.49%. All of these CDs are offered under the high yield investment option of the company. These investments have higher rates than market average.

The bank offers top CD rates for 4-year and 5-year certificates are 2.74% and 3.10%, respectively. Ally bank also offers no penalty CD with a relatively higher APY for a 9-month term at 1.24%.

There is another option for investment. The online saving account returns 1.50% variable APY for a multitude of investments and term limits. Ally Bank also offers CDs for the money market accounts. They offer a variable APY of 1.50% for these accounts. There are no monthly fees and minimum deposits for money market accounts and they follow the general terms of investment for other CD accounts.

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