Ally’s standard CDs are called High-Yield CDs and would need you to leave funds in the bank. Consequently, you may receive higher rates upon issuance, but this is constant until your account matures. Of course, if you decide to cash out of this kind of CD before maturity, you would pay a withdrawal penalty.
Raise CD Rates
CD rates could increase so that you won’t be stuck with too low gambling database returns. If Ally announces a rise in the interest in products you may have, log in and ask Ally to increase yours. If your CD is running for two years, you may request an increase once within the term. If you have four-year CDs, then you have two chances. You get 2.50 percent APY for both two- and four-year raises.
No Penalty CDs
Ally also offers liquid CDs, or the No Penalty CDs, which helps you avoid committing your money with the bank for a set period. This feature allows you to cash out early, especially when utterly high-interest rates take place. This type of CD runs for 11 months. Nevertheless, you may cash out 100% of your fund after waiting six days. Here are the interests that you may earn.