You can submit a transfer request up to one year before your CD matures or during your 10-day grace period in online banking. Log in and choose Manage CDs. Select Make Changes to choose Withdraw partial amount under Transfer Funds. If you schedule a transfer prior to maturity, we'll usually initiate that transfer on your maturity date. You can transfer funds to another Ally account, a verified account you have at another institution or we can send you a check.
When you fund your non-IRA CD within 10 days of your open date, you'll get the best rate we offer for your term and balance tier if our rate goes up within that time. The Ally Ten Day Best Rate Guarantee also applies at renewal. There is no minimum deposit to open a CD or get the Ten Day Best Rate Guarantee, but you may get a higher rate with a higher opening deposit.
You can view our current rates in online banking by choosing Accounts and then selecting Explore Products and Rates, or call us at 1-877-247-2559. Rates are variable and subject to change.
High Yield and No Penalty CDs: These qualify for our Ten Day Best Rate Guarantee. When you fund your CD within 10 days of your opening date, you'll get the highest interest rate we offer for your term and balance tier during that period. If you fund after the ten day period is over, you get the current interest rate for the day we receive the funds, whether it's higher or lower than it was during the ten day period. Raise Your Rate CDs: You’ll receive the Ten Day Best Rate Guarantee when you fund your account. If you fund after the ten day period is over, you get the current interest rate for the day we receive the funds, whether it’s higher or lower than it was during the ten day period. Then you have the option to raise your interest rate once over the 2-year term and twice over the 4-year term if our interest rate goes up for your term and balance tier. IRA Raise Your Rate and IRA High Yield CDs: When you fund your CD within 90 days, you'll get the best rate we offer for your term and balance on either the day you open or the day you fund your account. Note: The Ten Day Best Rate Guarantee also applies at renewal, starting with your maturity date. This guarantee doesn't apply to interest rate increases for the Raise Your Rate CD.
To see where and how often your interest is paid, go to your account details in online banking. Unless you make changes, this setting will automatically default to the interest disbursement option associated with your CD term. 12 month or less – interest is credited to your CD at maturity More than 12 months – interest is credited to your CD at year's end (annually) You can change how often and where your interest is paid on your current term in online banking. Choose Manage CDs to edit your Interest Disbursement. If you have questions about interest disbursement options, give us a call at 1-877-247-2559. We're available 24/7.
There's no minimum deposit to open a CD, but you may get a higher rate with a higher opening deposit.
The penalty depends on your term. For all CDs purchased or renewed before 12/7/2013, this table shows the penalty you could be charged, depending on your CD term, if you withdraw from your CD early.
| All CDs Purchased or Renewed Before 12/07/2013 | |
| All CD terms | 60 days of interest |
For all CDs purchased or renewed on or after 12/7/2013, this table shows the penalty you could be charged, depending on your CD term, if you withdraw from your CD early.
| CDs purchased or renewed on or after 12/07/2013, the penalty depends on your term. | |
| 24 month or less | 60 days of interest |
| 25 month - 36 month | 90 days of interest |
| 37 month - 48 month | 120 days of interest |
| 49 month or longer | 150 days of interest |
| 11 month (No Penalty CD) | You can withdraw funds any time after the first 6 days from funding. |
No. Once you open and fund your CD, you can't add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you'll have a 10-day grace period -- starting on your maturity date — to transfer funds or make other changes. To add funds to your CD online: Log in and choose Manage CDs. To add funds to your CD from the Ally Mobile App: Log in, choose after the Current Balance, select Manage CDs and then choose Make Changes. If you schedule a transfer prior to maturity, we'll usually initiate that transfer on your maturity date. You can transfer money from another Ally Bank account, Ally Invest account or a verified account you have at another institution.
Because rates can change daily, we won't know your new rate until the last day of your 10-day grace period. That's when we calculate your rate to make sure it reflects our best rate, plus the loyalty reward you get for renewing with us. On day 11, you can go to your account details to see your new rate. Check current rates on ally.com, or learn more about your CD rate at renewal.
You don't have to do anything to get the loyalty reward. It's automatically added when your CD, including IRA CDs, renew. Want to change terms? No problem. Your loyalty reward will be added to any term you choose for your CD, including IRA CD, at renewal. Check back 30 days before your CD matures to see what the reward is at that time. To change terms or add funds online: Log in, choose Manage CDs. From there, you can make changes or add funds to your balance. To change terms or add funds from the Ally Mobile App: Log in, choose after the Current Balance, select Manage CDs and then choose Make Changes.
You can open a CD with no minimum deposit in one of the following ways: Online: Submit an application online at allybank.com Phone: Call us at 1-877-247-2559 Mail: Download the application that's right for you and mail it to the address on the applicationIf you have additional Ally Bank accounts, you will receive a combined monthly statement.
If you’re looking to renew your CD, no action is needed. After your 10-day grace period, your CD will automatically renew into the same term. There are Select CDs that don't renew into the same term; instead, they renew into the term defined when the CD was opened.
To provide renewal instructions online, choose Manage CDs.
To provide renewal instructions from the Ally Mobile App: Log in, choose after the Current Balance, select Manage CDs and then choose Make Changes.
To provide renewal instructions for your IRA CDs, give us a call at 1-877-247-2559.
We offer a variety of CD options to meet your needs: High Yield CD – terms range from 3 to 60 months. Raise Your Rate CD – 2- and 4-year terms available. Start with a great rate, plus have the opportunity to increase your rate once over the 2-year term or twice over the 4-year term if our rate for your term and balance tier goes up. No Penalty CD – 11-month term that lets you withdraw all your money any time after the first 6 days following the date you funded the account, and keep the interest earned with no penalties.
A FEW THINGS YOU SHOULD KNOW
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