4.5 NerdWallet rating

Ally’s rates on certificates of deposit stand out as high among banks. There’s no minimum deposit required, but some terms have better rates for bigger deposits.

Ally Bank CD rates

Unlike some online banks, Ally has three different types of CDs:

  • Standard CDs (or what it calls “High Yield CD”): These CDs have fixed rates and early withdrawal penalties.
  • Step-up CDs (“Raise Your Rate CD”): These CDs have early withdrawal penalties, but one special perk: you can request a rate increase (once for two-year and twice for four-year) if Ally raises the rate for new CDs with the same term and balance tier as your CD.
  • No-penalty CDs: These CDs have fixed rates, and one unusual perk as well: You can withdraw the full balance after the first six days without incurring the penalties that standard CDs and step-up CDs charge.
3-month CD
(High Yield CD)
0.75% APY
6-month CD
(High Yield CD)
1.00% APY
9-month CD
(High Yield CD)
1.25% APY
11-month CD
(No Penalty CD)
Rate depends on deposit:

  • Under $5,000: 1.80% APY
  • $5,000-$24,999: 2.15% APY
  • $25,000 and up: 2.30% APY
1-year CD
(High Yield CD)
2.75% APY
2-year CD
(Raise Your Rate CD)
2.50% APY
18-month CD
(High Yield CD)
Rate depends on deposit:

  • Under $5,000: 2.40% APY
  • $5,000-$24,999: 2.55% APY
  • $25,000 and up: 2.60% APY
3-year CD
(High Yield CD)
Rate depends on deposit:

  • Under $5,000: 2.50% APY
  • $5,000-$24,999: 2.60% APY
  • $25,000 and up: 2.65% APY
4-year CD
(Raise Your Rate CD)
2.50% APY
5-year CD
(High Yield CD)
3.00% APY

» Want more options? See the best CD rates

How Ally Bank CD rates compare

Ally offers a strong offering of CD rates, but some online banks provide even higher ones. Let’s compare:

» Learn more about accounts on our Ally Bank review

More details about Ally Bank CDs

What to consider when opening CDs

  • Interest rates are fixed. If you open nearly any Ally Bank CD today, its annual percentage yield will stay the same until the CD expires. This benefits you if you lock in a CD before rates start dropping, but on the flip side, you’ll earn less on a CD if rates keep rising. It’s hard to know when CD rates will go up, since it depends on Federal Reserve rate hikes and other factors. Ally has two step-up CDs, its two-year and four-year terms, which let you raise your rate once or twice before the CD matures.
  • You lose interest if you withdraw early. CDs are built to keep your money out of sight, out of mind. If you dip into almost any Ally CD before it expires, there’s an early withdrawal penalty, which means losing some or all the interest you earned. There is one exception: an 11-month no-penalty CD (compare this with other no-penalty CDs).

» On the fence about a CD? If there’s a chance you’ll need access to your money, look into the best high-yield savings accounts instead.

Solid rates and variety of CD types

Ally Bank CDs have some of the best rates and a range of different terms and types of CDs, but if you want to compare more options, check out our list of best CD rates for this month.

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