We will compare current top CD rates first by term and then ranked by annual percentage yield (APY).

Specials in GMAC Certificate of Deposit
Current specials are the No Penalty CD which has a 9 month term and auto-renews for another 6 months at standard rates. With a 1.75% APY, one of the best CD rates at GMAC, the certificate allows you to withdraw or close the account once during its duration.

Terms and Best GMAC Bank CD Rates
Most of the offerings for GMAC Bank CD accounts are national leaders.

A 3 month term yields 1.25% APY while a 6 month term gives 1.65% APY. The 9 month standard, compared to the above special, gives a 1.60% APY.

One year gives 2.05% APY as another bonus compared to the 18 month yield of 2.00% APY.

Two years gives 2.30% APY, 3 years a 2.75% APY, and 4 years a 2.95% APY. The popular long-term 5 year term has a whopping 3.40% APY on it.

There are no minimum balances required to open or maintain these GMAC certificate of deposit accounts, so any amount you wish to deposit is good enough.

GMAC Bank (Ally Bank) is FDIC insured to the fullest extent and GMAC Bank CD accounts maturing before January 1, 2013 are eligible for extended $250,000 FDIC insurance.

Knowing all of this, we here at Top CD Rates had to look at GMAC CD rates to see how they’re comparing. GMAC has grown quickly to become of the nation’s largest banks and the aggressive CD rates at GMAC Bank are showing proof of that.

Their top rates on 3, 6, 12, 18, and 24 month CDs are competitive, starting at 2.05 percent annual percentage yield and growing to 3.5 percent for the 5 year certificate. These all have a minimum deposit of only $500. One of the more impressive of the lot is probably the 1 year (12 month) GMAC CD rates at 2.95% APY, which matches the 2 year rate as well.

As they maneuver to pull more depositors, GMAC Bank CD rates will continue to stay aggressive, we think. For the short-term or mid-term investor, these are definitely competitive certificate of deposit rates worth considering.

If you’re looking for a good CD, you should check out GMAC Bank CD rates and see if they’re right for you. GMAC is fully FDIC insured to the extent of the law. Check at the GMAC Bank online banking website for current rates and terms, since this can change often.