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12 Month Ally Bank High Yield CD pays 2% APY

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Also 12 month no penalty CD pays 1.75% for deposits over $25K

https://www.ally.com/bank/view-ra...NAV2_RATES
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Created 12-22-2017 at 03:09 AM by sd5000
in Finance (2)
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6 Comments

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Joined Aug 2012
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#2
Series I Bond @ 2.58%
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Joined Jun 2008
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#3
I was going to open an account with them but had to call because of an error. Hold time was 20-25 minutes yesterday, mid-afternoon. Nope.
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#4
Quote from neovela
:
Series I Bond @ 2.58%
That sounds good, in theory, but that rate is only guaranteed through the end of April, and you have to hold them at least a year, and if you cash out in less than 5 years, you lose the last 3 months of interest.
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#5
Quote from IronTek
:
That sounds good, in theory, but that rate is only guaranteed through the end of April, and you have to hold them at least a year, and if you cash out in less than 5 years, you lose the last 3 months of interest.
Touché Peace. But I'd still take my chances with the I bond.
- 3 month penalty brings it on par with the pre-tax CD rate (at current rate)
- I bond may be cashed tax-free if used for qualified educational expenses
- Indexed to inflation means a bond holder will not lose value due to inflation

Tip: An I bond should be purchased near month-end since credit for the entire month is given no matter when purchased during that month. This will also reduce the holding period from 12 months to 11.
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Joined Nov 2011
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#6
I-bonds are a wonderful vehicle, but only for INVESTMENTS of $10,000 and under, as that is the current taxpayer limit.
Quote from neovela
:
Touché Peace. But I'd still take my chances with the I bond.
- 3 month penalty brings it on par with the pre-tax CD rate (at current rate)
- I bond may be cashed tax-free if used for qualified educational expenses
- Indexed to inflation means a bond holder will not lose value due to inflation

Tip: An I bond should be purchased near month-end since credit for the entire month is given no matter when purchased during that month. This will also reduce the holding period from 12 months to 11.
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Joined Dec 2006
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#7
Seems decent. Nothing better with a safe guaranteed return
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