Ally Raise Your Rate CDs. This account offers a competitive 0.7% APY that can increase over time depending on your balance and Ally’s rates. Ally No Penalty CD. If you want access to your money with a higher interest rate than a standard savings account, this option may be right for you. 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.
I included the Federal Funds Rate (source: St Louis Fed, Federal Funds Rate) as a comparison as this is the rate that banks lend to each other. You can see the spike in Ally Bank rates generally following increases and decreases with changes to the Federal Funds Rate. So if you’re on the fence about figuring out when is a good time to lock in a rate with Ally Bank on a CD, just look at how the Federal Funds rate has been trending.
In addition, I included the national average for the 12 month CD rates (source: St Louis Fed Avg 12 Month CD). This average seems to be less responsive to the Federal Funds rate, but still shows some similar movement.
Table of Ally 12 Month CD Rates 2010-2020
Note for anyone else, I had some trouble with the Web Archive providing inconsistent results on the pages I was using to get the interest rates from. This is why for some of the more recent recordings, I used blog posts to get the rates. I think there is some kind of issue with how the data is saved since it looks like the data is loaded by javascript I think my browser is caching the javascript file with information from a previous snapshot.
Ally Cd Rates 15 Month
Recorded 11/27/2020
Ally Cd Rates No Penalty
- 9 Month: 0.5%
- 12 Month: 0.65%
- 18 Month:
- Less than $5k Deposit : 0.7%
- $5k – $25k Deposit : 0.7%
- Greater than $25k Deposit: 0.7%
- 3 Year:
- Less than $5k Deposit : 0.75%
- $5k – $25k Deposit : 0.75%
- Greater than $25k Deposit: 0.75%
- 5 Year: 1.0%