Ally Bank CD interest rates are among the most competitive available in the country. We offer a wide range of CDs to meet your goals, including the Raise Your Rate CD. With the Raise Your Rate CDs, you have the option of a one-time rate increase if our Ally Bank 2-Year CD rate goes up; you have the option to increase your rate twice (two times.
Ally Bank CD Rates – Up to 0.85% APY! Ally Bank CD interest rates are among the most competitive available in the country. We offer a wide range of CDs to meet your goals, including the Raise Your Rate CD. With the Raise Your Rate CDs, you have the option of a one-time rate increase if our Ally Bank 2-Year CD rate goes up; you have the option to increase your rate. The Ally Bank High Yield CD currently offers a fixed 0.85% APY on its five-year CD. With the national average rate for a five-year CD at 0.34% APY according to the FDIC, this is nearly three times. A No Penalty certificate of deposit and a Raise Your Rate certificate of deposit. The No Penalty certificate of deposit is available in an 11 month CD term with a current CD rate of 1.34 percent with an annual percentage yield of 1.35 percent. Ally Bank's 11 month CD rate is higher than most 12 month CD rates from banks and credit unions.
© Syda Productions/Shutterstock ally-bank-cd-ratesAlly Bank offers three flavors of CDs: traditional CDs, no-penalty CDs, and raise your rate CDs. Each type of CD comes with a variety of terms. None have a minimum balance requirement or monthly fee.
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Ally Bank earned 4.4 out of 5 stars in Bankrate's review across its deposit products.
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 basic CD with no frills.
| Account name | Term | APY | Minimum deposit |
| High Yield CD | 3 months | 0.20% | $0 |
| High Yield CD | 6 months | 0.25% | $0 |
| High Yield CD | 9 months | 0.30% | $0 |
| High-yield CD | 12 months | 0.60% | $0 |
| High-yield CD | 18 months | 0.60% | $0 |
| High-yield CD | 36 months | 0.65% | $0 |
| High-yield CD | 60 months | 0.85% | $0 |
Raise Your Rate CD
Ally's Raise Your Rate CD lets you increase your interest rate, once for the 24-month CD and twice for the 48-month CD, if market rates rise during your CD's term.
| Account name | Term | APY | Minimum deposit |
| Raise Your Rate CD | 24 months | 0.60% | $0 |
| Raise Your Rate CD | 48 months | 0.60% | $0 |
No Penalty CD
Ally's No Penalty CD doesn't charge an early withdrawal penalty if you make a withdrawal six or more days after opening the CD.
| Account name | Term | APY | Minimum deposit |
| No Penalty CD | 11 months | 0.50% | $0 |
Currently, Ally offers a .05 percent loyalty reward if you renew a CD at the bank.
Note: The APYs (annual percentage yield) shown are as of Dec. 16, 2020. The APYs for some products may vary by region.
How Ally Bank rates compare with top-yielding banks
Ally's CD rates are competitive. One drawback is that Ally has slightly fewer options for long-term CDs than some other banks, but you can still easily establish a CD ladder.
There are some other banks, like Marcus by Goldman Sachs or Limelight Bank that offer higher rates on some CD terms. Remember that some banks may have minimum deposit requirements, which Ally does not.
Other savings options at Ally
Ally Cd Rates 11 Month
Ally offers a great online savings account if you need more flexibility with your savings. In fact, the savings account pays the same (or better) interest rate than some of Ally’s CD terms.
Ally Bank Cd Rates Today
Ally also offers a money market account, but it pays half the rate that the bank's savings account does.