Ally Bank CD Rates Update
Since we looked at Utah-based Zions Bank yesterday, we here at Highest CD Rates Info thought that we’d also update you on what’s going on with Ally Bank CD rates as well.
*Editor’s Note: this is an older article, and we have recently updated our research about current Ally Bank CD Rates. For our latest article on Ally CD Rates, please see the following page: Ally Bank CD Rates
Ally Bank CD rates are subject to change given market conditions and bank policies. Ally CD rates as of May 5, 2010 are as follows. For an investment of three months, the bank returns an APY of 0.74%. A 6-month investment at the bank will yield 1.15% APY and a 9-month investment will return an APY of 1.10%.
The standard investment of one year at Ally Bank returns an APY of 1.49%. An 18-month investment at the bank will return an APY of 1.65%. Ally certificate of deposit rates for three year investment are currently estimated at 2.33%. The current cd rates for four year investment at the ban k are estimated to return an APY of 2.59%.
The highest CD rates at Ally Bank are currently available on the five year CD. Investors can earn as high as 2.99% APY on this investment. There are no monthly fees charged on these accounts and customers can open these accounts for a very little amount as there are no minimum opening deposit requirements. Interest rates are compounded daily for these accounts. CD accounts are automatically renewed at maturity unless otherwise specified by the customers. In that case, the bank will not review the account and customers can take out their money and profits. Penalties are applicable in case of early withdrawals and other violations of the user agreement. Bank website has further details about the account and offers an online account opening feature.