Ally Bank CD rates
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Ally Bank, an online bank, offers three flavors of CDs: traditional CDs, no-penalty CDs, and raise your rate CDs. Most come with a variety of terms. None has a minimum balance requirement or monthly fee.
Ally Bank earned 5 out of 5 stars in Bankrate’s review across its deposit products and the same score for its CDs.
Ally Bank CD rates
Here’s a closer look at Ally Bank’s CD rates.
High Yield CD
Ally’s High Yield CD is a standard CD with APYs that vary with term length.
| Account name | Term | APY | Minimum deposit |
| High Yield CD | 3 months | 1.50% | $0 |
| High Yield CD | 6 months | 2.75% | $0 |
| High Yield CD | 9 months | 2.85% | $0 |
| High-yield CD | 1 year | 3.75% | $0 |
| High-yield CD | 18 months | 4.00% | $0 |
| High-yield CD | 3 years | 4.05% | $0 |
| High-yield CD | 5 years | 4.10% | $0 |
Raise Your Rate CD
Ally’s Raise Your Rate CD lets you increase your interest rate once in the two-year CD’s term and twice during the term of the four-year CD, should rates rise.
| Account name | Term | APY | Minimum deposit |
| Raise Your Rate CD | 2 years | 3.00% | $0 |
| Raise Your Rate CD | 4 years | 3.00% | $0 |
No Penalty CD
Ally’s No Penalty CD doesn’t charge an early withdrawal penalty if a withdrawal is made six or more days after funding the CD. Just one term is available.
| Account name | Term | APY | Minimum deposit |
| No Penalty CD | 11 months | 3.10% | $0 |
Note: Ally offers a .05 percent loyalty reward when renewing a maturing CD. Annual percentage yields (APYs) shown are as of Nov. 9, 2022, and may vary by region for some products.
How Ally Bank rates compare with top-yielding banks
Ally’s CD rates are competitive. Ally has slightly fewer options for long-term CDs than some other banks, but it’s still easy to establish a CD ladder.
Bread Savings (formerly Comenity Direct) and Limelight Bank and some other online banks offer higher rates on a one-year CD, for instance. But unlike Ally they also have minimum deposit requirements.
Other savings options at Ally
Ally offers an online savings account that also earned 5 out of 5 stars by Bankrate, if you need more flexibility with your savings. The savings account pays the same (or a better) interest rate than some of Ally’s CD terms.
Ally’s money market account is another option that offers the same rate as its savings account.
