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Ally Bank CD Rates – 1 year CD Rates at 1.23%, APY 1.24%
 

Ally Bank CD Rates – 1 year CD Rates at 1.23%, APY 1.24%

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Ally Bank consistently has the best CD rates available. CD rates at banks and credit unions are so low right now so it's refreshing to see a great rate. Current 1 year bank CD rates are averaging less than .75% but Ally Bank's 1 year CD interest rate is a lot higher at 1.22% with an APY of 1.23%. That's one of the best rate available right now on a 1 year certificate of deposit.

Ally Bank's 3 month rate is also a lot better than the average 3 month rate. Ally's current 3 month certificate of deposit rate is 0.54% with an APY of 0.54%. Average 3 month rates are about half that rate. The bank's longest term certificate of deposit, 5 year CD, has a rate of 2.37% and an APY of 2.40%.

In addition to Ally Bank's High Yield CDs, the bank is also offering two other types of certificates of deposit. Their No Penalty CD and their Raise Your Rate CD. The current No Penalty CD term is 11 months with a rate of 1.14% and an APY of 1.15%. The current Raise Your Rate CD is 1.48% with an APY of 1.49%.

With the No Penalty CD you can withdrawal all your principal and interest earn penalty free after the first 6 days of opening your account. With the Raise Your Rate CD you can raise the rate once during the 2 year term, that is if interest rates go higher after you open your account.

CD Rates Ally Bank


3 months CD 0.54% APY 0.54%
6 months CD 0.94% APY 0.94%
9 months CD 0.95% APY 0.95%
12 months CD 1.22% APY 1.23%
18 months CD 1.33% APY 1.34%
3 years CD 1.78% APY 1.80%
4 years CD 2.03% APY 2.05%
5 years CD 2.37% APY 2.40%

Opening a certificate of deposit account with Ally is easy and can be done online in minutes. To open any CD account with Ally Bank go to their website at: Ally Bank CD Application.
Author: Stacy Everest
April 22nd, 2011