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expired Posted by Cdcarver • Feb 18, 2023
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expired Posted by Cdcarver • Feb 18, 2023

Ally Bank: 18-Month High Yield CD

(no minimum deposit)

5% APY

341 Comments 208,138 Views
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Deal Details
Ally Bank is offering a 18-Month High Yield Certificate of Deposit at 5% APY with no minimum deposit.

Thanks to Community Member Cdcarver for posting this deal.

Editor's Notes

Written by RevOne | Staff
  • About this deal:
    • No minimum deposit to open
    • Interest compounded daily
    • Your deposits are insured by the FDIC up to the maximum allowed by law
    • Early withdrawal penalty will apply. APY is fixed for the term of the CD and is subject to change upon renewal.
  • Please refer to the forum thread for additional details & discussion.

Original Post

Written by Cdcarver
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Ally Bank is offering a 18-Month High Yield Certificate of Deposit at 5% APY with no minimum deposit.

Thanks to Community Member Cdcarver for posting this deal.

Editor's Notes

Written by RevOne | Staff
  • About this deal:
    • No minimum deposit to open
    • Interest compounded daily
    • Your deposits are insured by the FDIC up to the maximum allowed by law
    • Early withdrawal penalty will apply. APY is fixed for the term of the CD and is subject to change upon renewal.
  • Please refer to the forum thread for additional details & discussion.

Original Post

Written by Cdcarver

Community Voting

Deal Score
+116
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Top Comments

mnsweeps
Bad deal compared to buying treasuries where u don't pay state or local tax on interest
zjs2k
You can find the most recent auction price for all kinds of treasury at treasurydirect.gov:
https://treasurydirect.gov/auctio...a-results/
The best way to buy treasury (bills, notes, bonds, tips, etc) IMO is through a brokerage instead of treasurydirect.gov. You can easily sell if you need the money before maturity. At treasurydirect, you have to transfer them to a brokerage to sell.
Only down side of a brokerage is you have to buy at least $1000 each time. Some has higher limit like $2000 or $5000. Treasurydirect can buy just $100. I use fidelity. You can also buy at Vanguard, Charles Schwab.
One last thing, make sure you buy the "new issues" and there is no fees. When you sell before maturity, you sell on open market which means you could lose money if the current price for your treasury is low, unlike the regular CD "lose 3 months interest".
IndigoSnow1339
Currently on Schwab:

US Treasury 6m 5.02%
US Treasury 9m 5.01%
US Treasury 12m 5.03%
US Treasury 18m 4.94%

340 Comments

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Mar 12, 2023
952 Posts
Joined May 2021
Mar 12, 2023
JollyReward108
Mar 12, 2023
952 Posts
Quote from blitzmnit :
I am. Moving all my money to treasury.
I can understand your concern for safety, just remember there are opp. when everyone is scared.
I reference 2008-2009, I made some of my best returns.
Mar 12, 2023
2,953 Posts
Joined Jan 2015
Mar 12, 2023
blitzmnit
Mar 12, 2023
2,953 Posts
Quote from JollyReward108 :
I can understand your concern for safety, just remember there are opp. when everyone is scared.
I reference 2008-2009, I made some of my best returns.

Could you expand a bit more. This is my first experience and scared a bit. I mean I know my money is insured but I dont trust the process totally.
Mar 12, 2023
952 Posts
Joined May 2021
Mar 12, 2023
JollyReward108
Mar 12, 2023
952 Posts
Quote from blitzmnit :
Could you expand a bit more. This is my first experience and scared a bit. I mean I know my money is insured but I dont trust the process totally.
You must first understand what you invest in and be comfortable with your level of risk.
It takes many yrs. to become a confident investor.
Read as much as you can about investing and the markets.
I pursued it as a full time job, without the MBA.
Mar 31, 2023
692 Posts
Joined Jun 2006
Mar 31, 2023
sillycibin
Mar 31, 2023
692 Posts
Quote from mnsweeps :
Bad deal compared to buying treasuries where u don't pay state or local tax on interest
.....
Last edited by sillycibin March 30, 2023 at 05:15 PM.
Apr 9, 2023
165 Posts
Joined Feb 2019
Apr 9, 2023
nigori
Apr 9, 2023
165 Posts
that seems like the move
Apr 13, 2023
847 Posts
Joined Jul 2009
Apr 13, 2023
C47V3770
Apr 13, 2023
847 Posts
Do CDs require a credit check? If so, is it a hard or soft pull? Thx
Apr 13, 2023
742 Posts
Joined Aug 2009
Apr 13, 2023
ssc280
Apr 13, 2023
742 Posts
Quote from C47V3770 :
Do CDs require a credit check? If so, is it a hard or soft pull? Thx

No they don't

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May 13, 2023
56 Posts
Joined Aug 2010
May 13, 2023
puroc
May 13, 2023
56 Posts
Don't use Ally Bank. There customer service is atrocious. They double funded the CD I opened and it's been 3 weeks and the case is still being investigated.
1
May 8, 2025
1,093 Posts
Joined Feb 2023
May 8, 2025
oasisallure
May 8, 2025
1,093 Posts
Quote from mnsweeps :
Bad deal compared to buying treasuries where u don't pay state or local tax on interest

can buy bonds up to $10k only?
1
May 9, 2025
19,005 Posts
Joined Sep 2003
May 9, 2025
beowulf7
May 9, 2025
19,005 Posts
Holy Batman dead thread. Kind of funny - I still have an Ally account open thanks to this deal. My CD matured early last year and I closed that account and transferred some of the funds to my savings acct. Earlier this year, I received my tax form, which looked to be a few grand more than I was expecting. Then I remember it was what I made in interest from this CD. Paying tax on it sucked. Sadwalk

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