Ally Bank CD Rates

Ally Bank, formally GMAC Bank is offering 9-month CD rate that currently has an annual percentage yield of 1.90 percent, one of the best CD rates around. What makes this certificate of deposit a “risk free” CD is you can withdrawal your money without penalty.

You can withdraw your money six days after funding your certificate  and anytime after you won’t be charged an early withdrawal penalty. You have to withdrawal the full balance plus all interest earned.

Interest on the certificate of deposit is compounded daily which give you a higher annual percentage yield than a certificate of deposit that compounds monthly or annually.

Account balances are insured by the Federal Deposit Insurance Corporation for up to $250,000. Ally Bank has it’s headquarters in Utah. The bank’s FDIC Cert number is 57803.