High-Yield CD Interest Rates | Ally Bank® (2024)

There’s no minimum deposit required to open your account, and you’ll always get the best rate we offer for your CD term with the Ally Ten Day Best Rate Guarantee . Your money grows with interest compounded daily .

Our Annual Percentage Yields (APYs) are accurate as of XX/XX/XX .Advertised APYs are subject to change. The APYs for other banks are provided by mybanktracker.com and are accurate as of XX/XX/XX . The APYs in this table are for the state of California.

There’s no minimum balance required to open an account. The APY we pay is based on your opening deposit amount.

The APY is fixed for the term of the CD but subject to change upon renewal.

• 24 months or less

  60 days of interest

• 25 months – 36 months

  90 days of interest

• 37 months – 48 months

  120 days of interest

• 48 months or longer

  150 days of interest

• There are no fees to open or obtain the APY on a certificate of deposit.

• The following numbers are all valid phone numbers for Ally Bank:
  877-247-2559
  855-379-4337
  855-379-4374
  855-379-4388
  855-379-4395
  855-379-4361
  855-379-4375
  855-379-4392
  855-379-4387

• There's no minimum deposit to open a CD, but you may get a higher rate with a higher opening deposit.

• The penalty depends on your term.

  For all CDs purchased or renewed before 12/7/2013, this table shows the penalty you could be charged, depending on your CD term, if you withdraw from your CD early.

  All CDs Purchased or Renewed Before 12/07/2013
  All CD terms	60 days of interest

  For all CDs purchased or renewed on or after 12/7/2013, this table shows the penalty you could be charged, depending on your CD term, if you withdraw from your CD early.

  CDs purchased or renewed on or after 12/07/2013,the penalty depends on your term.
  24 month or less	60 days of interest
  25 month - 36 month	90 days of interest
  37 month - 48 month	120 days of interest
  49 month or longer	150 days of interest
  11 month (No Penalty CD)	You can withdraw funds any time after the first 6 days from funding.

  The penalty is calculated using the interest method detailed in the Ally Bank Deposit Agreement (PDF). It's first deducted from the accrued interest and then, if necessary, the principal. Keep in mind, you can't make a partial early withdrawal.

  For Raise Your Rate CDs, the penalty is calculated using the interest rate in effect on your account on the day you request an early withdrawal.

  If the account owner passes away or is judged legally incompetent, we'll waive the early withdrawal penalty.

  To make an early withdrawal, log in to online banking and chooseManage CDsto selectEarly Withdrawal.

• No. Once you open and fund your CD, you can't add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you'll have a 10-day grace period -- starting on your maturity date — to transfer funds or make other changes.

  To add funds to your CD online: Log in and chooseManage CDs.

  To add funds to your CD from the Ally Mobile App: Log in, chooseafter the Current Balance, select Manage CDs and then choose Make Changes.

  If you schedule a transfer prior to maturity, we'll usually initiate that transfer on your maturity date. You can transfer money from another Ally Bank account, Ally Invest account or a verified account you have at another institution.

• Because rates can change daily, we won't know your new rate until the last day of your 10-day grace period. That's when we calculate your rate to make sure it reflects our best rate, plus the loyalty reward you get for renewing with us. On day 11, you can go to your account details to see your new rate.

  Check current rates onally.com, or learn more about your CD rate at renewal.

• You don't have to do anything to get the loyalty reward.

  It's automatically added when your CD, including IRA CDs, renew. Want to change terms? No problem. Your loyalty reward will be added to any term you choose for your CD, including IRA CD, at renewal. Check back 30 days before your CD matures to see what the reward is at that time.

  To change terms or add funds online: Log in, choose Manage CDs. From there, you can make changes or add funds to your balance.

  To change terms or add funds from the Ally Mobile App: Log in, chooseafter the Current Balance, select Manage CDs and then choose Make Changes.

• You’ll have a 10-day grace period starting on your maturity date to do one (or more) of the following:

  • Change the term
  • Make additional deposits or withdraw funds
  • Close the CD

  If you’re looking to renew your CD, no action is needed. After your 10-day grace period, your CD will automatically renew into the same term. There are Select CDs that don't renew into the same term; instead, they renew into the term defined when the CD was opened.

  Check out this video explaining the process

  To provide renewal instructions online, choose Manage CDs.

  To provide renewal instructions from the Ally Mobile App: Log in, choose after the Current Balance, select Manage CDs and then choose Make Changes.

  To provide renewal instructions for your IRA CDs, give us a call at 1-877-247-2559.

• We offer a variety of CD options to meet your needs:

  High Yield CD – terms range from 3 to 60 months.

  Raise Your Rate CD – 2- and 4-year terms available. Start with a great rate, plus have the opportunity to increase your rate once over the 2-year term or twice over the 4-year term if our rate for your term and balance tier goes up.

  No Penalty CD – 11-month term that lets you withdraw all your money any time after the first 6 days following the date you funded the account, and keep the interest earned with no penalties.

Still have questions? Visit our Help Center.