Ally Bank:
Online Certificate of Deposit - 4.50% 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• When the CD matures, the money can be withdrawn at no charge during a 10-day grace period.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 4.50%
Term Length 12 Month
Minimum deposit amount $0.00
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
Early withdrawal penalty
Monthly Maintenance Fee N/A
Foreign ATM Fees N/A
Insufficient Funds Fee N/A
Incoming Wires N/A
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.

Recent Rate Changes

Date APY
April 23, 2024 4.50%
February 12, 2024 4.75%
November 27, 2023 5.10%

Customer Reviews for Ally Bank (58)

  • August 13, 2023

    Been a customer for a couple of years now with interesting checking, been a happy customer. They give you a $10 reimbursement on atm fees per statement cycle. They pay you to leave your money there currently 15k+ at 0.25%, though I wish they would increase it to at least 0.50%+ same as Sofi.

  • August 16, 2022 |

    Online Savings Rates

    ally is still the gold standard in online banking, but the rate needs to get more competitive and the wait to speak to someone on the phone is just ridiculous.

  • November 5, 2021 |

    I opened an interest checking account with Ally after reading all the glowing comments online. My first experience with Ally was anything but glowing. The customer rep tried to charge me $15 for a debit card. When I challenged him on the charge and told him debit cards were free he backtracked and told me the charge was for expedited shipping. After I told him several times to use free standard delivery, even if it was by Pony Express, I still received my debit card via expedited delivery and was charged $15. I eventually received a refund after calling customer service to complain. This never should have happened in the first place. I guess the moral of my story is never believe everything you read.

  • 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 | Apr 24, 2024

    "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!

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