Ally Bank:
Online Certificate of Deposit - 0.55% APY

• No minimum deposit to open.
• No monthly maintenance fees.
• Interest compounded daily.
• Available to open in the name of a Trust.
• Automatic renewal at maturity. Early withdrawal penalty will apply.
• When the CD matures, the money can be withdrawn at no charge during a 10-day grace period.


Fee and Feature Guide

Certificate of Deposit
Interest Rate
APY 0.55%
Term Length 12 Month
Minimum deposit amount $25,000.00
Maximum deposit amount N/A
Balance Requirements
Minimum Opening Deposit $25,000.00
Minimum Balance to Avoid Fees $0.00
Minimum Required Balance $0.00
Fees
Early withdrawal penalty
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee N/A
Incoming Wires N/A
Statements
Paper Statements Yes
Online Statements Yes
Online and Telephone Banking
Online Banking Yes
Telephone Banking Yes
Mobile Banking Yes
Deposit Checks with Mobile Device Yes
Free Bill Pay Yes
Online Bill Payments Required Yes
Account Opening
Open Online Yes
Insured by F.D.I.C.

Customer Reviews for Ally Bank (56)


  • September 8, 2020 | | Replies 1

    Online Savings Rates

    I have been a customer for years and have never had a bad experience. These days I really appreciate how they are keeping their savings rates competitive. .8% is lousy, but it is very competitive.

    EduardoC | Jul 26, 2021

    "keeping their savings rate competitive" - they aren't.

  • July 19, 2020 |

    Online Savings Rates

    The 11 month no penalty cd is an obvious choice here. You are guaranteed a rate over that time and have free access to your money. Plus, they gave me a 5% bonus for being a long time customer (call them) and that made the rate the same as the savings rate today. CON: Hold times to reach a representative on the phone are too long!

  • April 28, 2020 |

    Online CDs 12 Month Rates

    Ally Bank does not set a minimum deposit for it's one year CD product.

  • April 2, 2019

    I have used online banking with Ally for 8+ years after being disgusted with brick and mortar bank rates. I currently have CDs and online savings. Online banking with Ally is easy and their rates are always competitive. I will be an Ally customer for many more years!

  • March 23, 2019 |

    Online Savings Rates

    This bank spend years advertising that they would never treat their old customers better than their new ones. Then they suddenly starting giving new customers a 1% bonus. Hypocritical? You bet.

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