Ally Bank CD rates
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Ally Bank, an online bank, offers three types of certificates of deposit (CDs): traditional CDs, no-penalty CDs, and Raise Your Rate CDs (a type of bump-up CD). None have a minimum balance requirement or monthly fee.
Bankrate has named Ally Bank the best bank overall as part of its 2025 Bankrate Awards. It offers a strong combination of competitive rates, minimal fees and user-friendly features.
Ally Bank CD interest rates
Here’s a closer look at Ally Bank’s CD rates. The rates on Ally’s traditional high-yield CDs are competitive. The rates on the bump-up and no-penalty CDs are somewhat lower, but still well above the national average for CDs.
High Yield CD
Ally’s High Yield CD is a standard CD with APYs that vary with term length.
| Institution | Term | APY | Min. deposit |
|---|---|---|---|
| Ally Bank | 3 months | 2.90% | $0 |
| Ally Bank | 6 months | 3.90% | $0 |
| Ally Bank | 9 months | 3.90% | $0 |
| Ally Bank | 1 year | 3.85% | $0 |
| Ally Bank | 18 months | 3.70% | $0 |
| Ally Bank | 3 years | 3.00% | $0 |
| Ally Bank | 5 years | 3.50% | $0 |
| Ally Bank | 2 years (Raise Your Rate) | 3.50% | $0 |
| Ally Bank | 4 years (Raise Your Rate) | 3.50% | $0 |
Note: Annual percentage yields (APYs) shown for Ally’s High Yield CD were last updated on June 20, 2025 and may vary by region for some products. Ally’s two and four-year CDs are Raise Your Rate CDs.
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 | 3.40% | $0 |
Annual percentage yields (APYs) shown for Ally’s No Penalty CD are as of June 20, 2025 and may vary by region.
Rate history for Ally Bank's CD accounts
See how rates for this account have changed over time. Select the CD term length from the dropdown and interact with the trend lines to view APY by date.
Ally Bank CD features
Early withdrawal penalties
For High Yield CDs, early withdrawal penalties vary by term:
- Terms of 3 months or less: 30 days of interest
- Terms of 3-24 months: 60 days of interest
- Terms of 25–36 months: 90 days of interest
- Terms of 37-48 months: 120 days of interest
- Terms of 49 months or longer: 150 days of interest
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.
The No Penalty CD allows you to withdraw your full balance, including interest earned, beginning six days after funding. There's no penalty for this withdrawal, making it an excellent option for savers who may need access to their funds before maturity.
Interest details
Interest on Ally CDs compounds daily. Interest can be paid out at maturity for terms of one year or less and annually at the end of each calendar year for terms longer than one year.
Raise Your Rate CD option
Ally's 2-year and 4-year Raise Your Rate CDs give you the opportunity to increase your rate once (for the 2-year CD) or twice (for the 4-year CD) during the term if Ally's rates for these terms go up. This feature provides flexibility in a rising rate environment.
CD renewal
Ally CDs automatically renew at maturity. The bank provides a 10-day grace period after maturity during which you can withdraw funds, add funds, or change the term without penalty. Ally also currently offers a .05 percent loyalty reward when renewing a maturing CD.
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.
Online banks such as First Internet Bank and Popular Direct offer higher rates on a one-year CD, for instance. But unlike Ally, they also have minimum deposit requirements.