Ally Bank CD Rates: June 2025

Great short-term rates, and no minimum deposit

By

澳洲幸运5官方开奖结果体彩网:Dawn Papandrea

Updated May 29, 2025

Couple consulting with a female financial manager at the bank — Kerkez / Getty Images

Ally Bank is one of the most well-known online banks, and it has an impressive selection of CDs. What’s especially attractive is that its most 澳洲幸运5官方开奖结果体彩网:competitive CD rate offers usually don’t require tying your money up for multiple years, while all rates are well above the national average.

Also appealing is that there is no minimum opening amount, making Ally's products more accessible than some other online banks.

Ally Bank High Yield CD Overview

Ally Bank High Yield CD Rates
CD Term	APY	Minimum Balance
3 months	2.90%	No minimum
6 months	3.90%	No minimum
9 months	3.90%	No minimum
12 months	3.85%	No minimum
18 months	3.70%	No minimum
36 months	3.50%	No minimum
60 months	3.50%	No minimum

Raise your rate CD: Earn a relatively good 3.50% on a three year or 5 year CD with no minimum balance or deposit. Bump up your rate if it goes up during your term—once for the two-year CD or twice for the four-year.
No penalty CD: These 11-month CDs earn 3.55% with no minimum balance or deposit and no penalty for withdrawals after the first six months.

Fast Fact

澳洲幸运5官方开奖结果体彩网:Ally Bank is an online-only bank. Any U.S. resident who is at least 18 years old can open a CD through Ally.

Compare Ally Bank CD Rates

Ally Bank stands up pretty well when compared to other online banks. It doesn’t have the top interest rate around, but because there’s no minimum balance requirement, it is more access🐷ಌible than other banks that may require $1,000 or more to get started.

Other CDs with consistently high rates come from CIT Bank and Marcus. Their top rates are similar to Ally's highest rate. However, they have minimum balance requirements of $1,000 and $500, respectively.

Ally Bank CDs: Key Features

Ally Bank CDs: Key Features
APY Range	2.90%-3.90%
Minimum Balance	None
Term Range	3 months–5 years
Early Withdrawal Penalty	60 days of interest for 24 months or less; 90 days of interest for 25 to 36 months; 120 days of interest for 37 to 48 months; 150 months of interest for 48 months or longer

Pros and Cons of Ally Bank CDs

Pros

澳洲幸运5官方开奖结果体彩网:High customer satisfaction
澳洲幸运5官方开奖结果体彩网:Can get rate CD with rate raising
澳洲幸运5官方开奖结果体彩网:Can get no penalty CD
澳洲幸运5官方开奖结果体彩网:No minimum balance requirement

Cons

澳洲幸运5官方开奖结果体彩网:Online only
澳洲幸运5官方开奖结果体彩网:May find more competitive rate꧑s elsewhere

Pros Explained

High customer satisfaction: Ally ranked third in JD Power’s 2023 U.S. Direct Banking Satisfaction Survey.
Can get rate CD with rate raising: Raise Your Rate CDs let you bump up your rate if it goes up during your term—once for the two-year CD or twice for the four-year.
Can get no penalty CD: The No Penalty CD allows you to access your money (plus any interest earned) six days after funding without penalty.
No minimum balance requirement: Ally Bank's CDs do not have minimum balance requirements.

Cons Explained

Online only: Ally Bank has no branches, so if you want to do you banking in person, you may want to consider another bank.
May find more competitive rates elsewhere: Ally Bank does offer some good rates on its CDs, but by shopping around you can likely find even better rates.

About Ally Bank

If you’re someone who has never opened a CD before or just someone who wants to give their savings💖 a boost, Ally Bank could be a great choice. With no minimum deposit, you can start as small as you’d like. And because the longest terms aren’t necessarily the top interest rate, you don’t have to feel pressured to tie up your cash longer than you may be comfortable doing.

If you’re still hesitant to open a CD, you might consider the 11-month No Penalty CD, which lets you avoid an early withdrawal fee if you need to pull your money out.

Ally is highly rated for customer service, typically offers bank bonuses, and offers a variety of products from checking and savings to 澳洲幸运5官方开奖结果体彩网:personal loans. Ally ranked third in JD Power’s 2023 U.S. Direct Banking Satisfaction Survey.

Tip

If you want to try doing a 澳洲幸运5官方开奖结果体彩网:CD ladder, choosing a bank that has no minimum deposit like Ally can ꧙make it more convenient since you’ll be opening multiple CDs at once.

Alternatives to Ally Bank CDs

Other high-interest CDs: Check the best CD rates currently available before making a deposit.
High-yield savings account: If you want to protect your funds while also earning interest, you can also consider a 澳洲幸运5官方开奖结果体彩网:high-yield savings account.
Checking account: A checking account is another option for storing your cash, especially if you don’t want to be subject to withdrawal limits. Some 澳洲幸运5官方开奖结果体彩网:high-interest checking accounts can provide more returns on your cash than traditional checking accounts.
Money market account: 澳洲幸运5官方开奖结果体彩网:Money market accounts are similar to savings accounts, though they may also come with check-writing abilities and a debit card. You can often earn a good rate on your savings, but you might have to deal with monthly fees or minimum balance requirements.
I bonds: I bonds from the U.S. government are an investment option for protecting your savings from inflation. I bonds may or may not offer a higher rate than the best CDs. When you invest, you have to commit to leaving your money in the I bond for at least a year.

Frequently Asked Questions (FAQs)

What Is Ally’s CD Best Rate Guarantee?

Ally wants to make sure that customers don’t miss out on a potential rate increase in the immediate days following account opening. The Best Rate Guarantee will ensure that you get the highest rate offered between your open date and the date you fund the account (within 10 days).

Is Ally Good for CDs?

Ally Bank is a good option if you’re considering opening a CD. It does not require a 澳洲幸运5官方开奖结果体彩网:minimum deposit amount, rates are competitive, and there are several terms from 𒁃which to choose. Opening an account online is also quick and easy.

Are Ally Bank CDs Safe?

Ally is 澳洲幸运5官方开奖结果体彩网:FDIC-insured, so your money is well protected. There’s also zero liability should there be any unauthorized transactions on🀅 any of your accounts.

What Are the Downsides of Ally Bank?

Ally Bank is 澳洲幸运5官方开奖结果体彩网:online only, so if you prefer a person-to-person, in- branch experience, you won’t get that. Also, while CD rates are competitive, yﷺou may find higher rates elsewhere.

Your Guide to CDs

Article Sources

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