Ally Bank Review | The Ascent by Motley Fool

Ally Bank Raise Your Rate CDs

Ally’s Raise Your Rate CDs offers a two- or four-year term. If you go with a two-year term, you can raise the rate once during the term if Ally’s rates for new Raise Your Rate CDs are higher than your current rate. If you choose the four-year term, you can raise your rate twice. These CDs also come with loyalty bonus APYs for customers who open a new CD after the initial term ends. 

Ally Bank No Penalty CDs

Ally Bank’s No Penalty CDs have a single 11-month term, and enable you to withdraw your funds penalty-free any time after the first six days from account opening. The rates aren’t quite as high as Ally’s other CD rates, but they are still competitive, especially compared to CDs offered by brick-and-mortar banks. Customers who stick it out until the end of the term are rewarded with a loyalty bonus if they renew, and the No Penalty CD is also subject to Ally’s 10-day best rate guarantee.

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