Ally Bank CD Rates: Still Very Competitive and in the Top 5 of Our 1 Year CD Rates List

Ally Bank's CD rates have been very competitive over the past several years and right now the bank's 1 year CD rate is in the top 5 rates available on our rate list. Ally Bank offers three difference types of certificates of deposit including their "High Yield CDs", "Raise Your Rate CD" and "No Penalty CD".

Ally Bank's High Yield CD's are their regular certificates of deposit that has fixed CD rates for the entire maturity date. Current terms available for High Yield CDs range from 3 months to 60 months. The highest CD rate of course is on the banks 5 year certificate of deposit which has a current CD rate of 1.68 percent with an APY of 1.69 percent.

The best CD rate deal right now is on the bank's 12 month CD at 1.03 percent with an APY of 1.04 percent. Ally's 12 month rate is the fifth best on our 12 month CD rate list.

Current High Yield CD Rates at Ally Bank

• 3 month CD Rates 0.39% APY 0.39%
• 6 month CD Rates 0.75% APY 0.75%
• 9 month CD Rates 0.75% APY 0.75%
• 12 month CD Rates 1.03% APY 1.04%
• 18 month CD Rates 0.94% APY 0.94%
• 3 year CD Rates 1.29% APY 1.30%
• 5 year CD Rates 1.68% APY 1.69%

Ally also offers their "No Penalty CD". This CD account allows the holder to make a penalty-free early withdrawal after the first 6 days the account is funded. Ally offers an 11 month CD term for their No Penalty CD with a current CD interest rate of 0.94 percent with an APY of 0.94 percent.

If you're thinking of placing your money in a certificate of deposit but you think you might need the money before the term is up the No Penalty CD might be for you. You can lock in an interest rate instead of placing the funds in a variable rate account like a money market account or savings account.

If you want to invest in a longer term certificate of deposit but you believe CD rates at banks are heading higher you might want to consider Ally's "Raise Your Rate CD" which allows you to increase the CD rate after you open the account. This type of certificate of deposit is available in terms of 2 years and 4 years.

The 2 year certificate of deposit term allows you to increase the CD rate on the account once after opening it as long as Ally increases the rate. 2 year Raise Your Rate CD rates are at 1.13 percent with an APY of 1.14 percent.

The 4 year certificate of deposit allows you to raise your CD rate twice after opening the account as long as Ally increases the 4 year CD rate. 4 year Raise Your Rate CD rates are at 1.43 percent with an APY of 1.44 percent.

You can see how Ally Bank's certificate of deposit rates compare with other CD bank rates by using our rate lists. We list the highest CD interest rates for certificate of deposit terms ranging between 1 month and 5 years. We also list the best jumbo CD rates on 1 year and 5 year certificates of deposit.