Ally Bank is offering a competitive 1.92% APY 2 year CD with the option of a one-time rate increase during the 24 month term. This gives you both the flexibility and earning power you need to maximize your interest earnings. If rates increase you can opt in at any time to lock in your rate at the higher interest rate.
Ally Bank makes it easy and stress free to sign up for any of their CD products.
- Open an account with $0.
- No monthly fees.
- The extra peace of mind Ally’s Ten Day Best Rate Guarantee.
- Compounded interest daily to maximize your earnings
- FDIC insured
- Automatic renewals at maturity
- Ally gives you the ability to withdraw and receive earned interest as income.
The early withdrawal penalty with Ally is only 60 days’ interest and does not apply to a No Penalty CD.
If you were to deposit $5,000 for the 2 year CD at 1.92% APY, at the end of two years you would make $193.65 and at $10,000 deposited for the same term you would earn $387.30. These rates are still better than:
- Bank of America 1.10%
- ING Direct 1.10%
- Chase 1.01%
- HSBC Advance 0.75%