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expired Posted by homeyhomedawg • Mar 11, 2023
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expired Posted by homeyhomedawg • Mar 11, 2023

Ally Bank: 11-Month No Penalty CD

(no minimum deposit)

4.75% APY

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Ally Bank is offering an 11-Month No Penalty Certificate of Deposit at 4.75% APY with no minimum deposit.

Thanks to Community Member homeyhomedawg for posting this deal.

Editor's Notes

Written by SubZero5 | Staff
  • About this deal:
    • There's no minimum deposit required to open your account, and you can withdraw your full balance and interest any time after the first 6 days of funding your CD. Plus, we don't charge monthly maintenance fees.
    • When you fund your CD within 10 days of your open date, you'll get the best rate we offer for your term and balance tier if our rate goes up within that time. The Ally Ten Day Best Rate Guarantee also applies at renewal.
    • Interest compounded daily
    • Your deposits are insured by the FDIC up to the maximum allowed by law

Original Post

Written by homeyhomedawg
Community Notes
About the Poster
Deal Details
Community Notes
About the Poster
Ally Bank is offering an 11-Month No Penalty Certificate of Deposit at 4.75% APY with no minimum deposit.

Thanks to Community Member homeyhomedawg for posting this deal.

Editor's Notes

Written by SubZero5 | Staff
  • About this deal:
    • There's no minimum deposit required to open your account, and you can withdraw your full balance and interest any time after the first 6 days of funding your CD. Plus, we don't charge monthly maintenance fees.
    • When you fund your CD within 10 days of your open date, you'll get the best rate we offer for your term and balance tier if our rate goes up within that time. The Ally Ten Day Best Rate Guarantee also applies at renewal.
    • Interest compounded daily
    • Your deposits are insured by the FDIC up to the maximum allowed by law

Original Post

Written by homeyhomedawg

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Top Comments

iyg
The FDIC protects your Ally Bank deposits up to $250,000 per depositor for each qualifying account ownership category.
hockeydon
Ally Financial Inc. — the third largest bank on the list by Dec. 31 total assets — stands out as having the largest percentage of negative accumulated comprehensive income relative to total equity capital as of Dec. 31.

To be sure, these numbers don't mean that a bank is in trouble, or that it will be forced to sell securities for big losses. But SVB had both a troubling pattern for its interest margins and what appeared to be a relatively high percentage of securities losses relative to capital as of Dec. 31.
famewolf
Try telling the full truth.

Marcus Savings $100 Bonus Offer

Marcus is offering $100 when you deposit $10,000 or more in new funds into a new or existing Online Savings Account within 10 days of enrollment. You must maintain those funds plus your current balance for at least 90 days.

This bonus is stackable with other deals from Marcus Bank. If you're a new customer, open an account with the referral link in the next section first to earn an extra 1.00% APY for 3 months. All customers can also earn an extra 0.10% if they're an AARP member which you can get for free.

So lock the funds for 90 days to get the same rate that Ally is offering upfront and if you need to use ANY of the money your rate drops to 3.75% for whole time. Not to long ago Ally did an identical type deal where they gave 1% savings rate bonus to EXISTING customers if they kept the funds in for 6 months on top of an already competitive rate.

Apparently new customers can STILL get that 1% bonus according to https://www.ally.com/getpaidWe for their SAVINGS which was 3.60% last time I looked.

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Mar 12, 2023
1,390 Posts
Joined Mar 2004
Mar 12, 2023
divedeeper
Mar 12, 2023
1,390 Posts
Quote from nyc10036 :
11 months is "more convenient" than 4 weeks?
I suppose you mean it is easier to break a CD than wait the 4 weeks for a T-Bill to mature.

I knowingly have $5K in a 0.15% savings account at my brick and mortar bank.
And it is there for absolute emergencies. Exactly what I am not sure. :-)
I switched my savings to Ally years ago that held my emergency money. Haven't needed it but I can transfer it in a day or two and have earned 1-3.6% for a few years now. At least it is earning a little back just sitting there.
Pro
Mar 12, 2023
507 Posts
Joined Dec 2015
Mar 12, 2023
AD211
Pro
Mar 12, 2023
507 Posts
The rate is definitely going up again. Be prepared to swap out if you're into maximizing your IR. It'll probably at least get to 5.25%-5.5%.

Edit: also, for those of you [understandably] scared because you don't know anything about finance, straight from the FDIC:

Since the FDIC began insuring deposits in 1934, no depositor has lost a penny of FDIC-insured funds as a result of an insured bank's failure.
Last edited by AD211 March 11, 2023 at 09:27 PM.
Mar 12, 2023
133 Posts
Joined Sep 2020
Mar 12, 2023
SmilingRoad414
Mar 12, 2023
133 Posts
Quote from 88noodles :
Anybody using https://www.wealthfront.com/ 4.05% APY Claim $1M in FDIC Insurance
I wouldn't recommend going with a "partner bank." To me it never made sense cuz why wouldn't I just use the main bank that is fdic insured
1
Mar 12, 2023
172 Posts
Joined Apr 2010
Mar 12, 2023
iuser
Mar 12, 2023
172 Posts
6-Month US Treasury Bill

Maturity:09/14/2023
Auction open*:03/09/2023
Auction cut-off: 03/13/2023 09:30 a.m., ET
Min. quantity: 1 ($1,000)
Settlement: 03/16/2023
CUSIP: 912796CQ0
Indicative Yield*: 5.107%
* The Indicative Yield is an estimate based off the most recently issued Treasury security of similar maturity that is currently available among active platform participants. The actual treasury auction results will often vary from the Indicative Yield and you may receive at auction an actual yield that is higher or lower than the Indicative Yield.

History:
Release Date Time Actual
Mar 13, 2023 10:30 ?
Mar 06, 2023 11:30 4.970%
Feb 27, 2023 11:30 4.940%
Feb 21, 2023 11:30 4.915%
Feb 13, 2023 11:30 4.840%
Feb 06, 2023 11:30 4.755%
2
Mar 12, 2023
560 Posts
Joined Jan 2013

This comment has been rated as unhelpful by Slickdeals users.

Mar 12, 2023
393 Posts
Joined Feb 2008
Mar 12, 2023
Counterfeit
Mar 12, 2023
393 Posts
Quote from koshur90210 :
I have lost 5k on my Robinhood ytd on 35k investment. I think I should take this and be at peace. Don't see any hope in stock market this year.
Not trying to be a jerk, but if you're investing in the stock market for the short term only and worried about losing cash and moving to a savings account…you shouldn't be investing in the stock market in the short term. I'd hold it and not pull out depending on what you're investing in and if you actually need the money.
Mar 12, 2023
13 Posts
Joined Feb 2017
Mar 12, 2023
turbonerd
Mar 12, 2023
13 Posts
Quote from xxxBUYERxxx :
Why? Because it's the Internet. Just trust me, ok? My name is Jeffrey J. Brown and I'm just trying my best to warn folks on different forums. Next I'll post this super secret insider info on 9gag.
Ah, a troll then. Thanks.

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Pro
Expert
This user is an Expert in Home & Home Improvement
Mar 12, 2023
19,462 Posts
Joined Jul 2006
Mar 12, 2023
SUCHaDEAL
Mar 12, 2023
Pro
Expert
This user is an Expert in Home & Home Improvement
19,462 Posts
Quote from unknownanonymous :
Any catch here? Does anyone suspect a SVB happening here?
Quite possibly this is why they're looking to raise captial.


Attachment 13156048
2
Mar 12, 2023
264 Posts
Joined May 2019
Mar 12, 2023
huaweipurch
Mar 12, 2023
264 Posts
Quote from iyg :
The FDIC protects your Ally Bank deposits up to $250,000 per depositor for each qualifying account ownership category.
FDIC don't have enough cash reserve themselves.
4
Mar 12, 2023
261 Posts
Joined Aug 2020
Mar 12, 2023
CrimsonShoe959
Mar 12, 2023
261 Posts
Quote from NavyBorder2767 :
Better deal is to buy short term bills from treasurydirect.gov which pays same or more. Also , no local/state taxes, only federal taxes to pay
So for texans tbills are worse deal right? No taxes here on any kind of income, only federal.
Mar 12, 2023
261 Posts
Joined Aug 2020
Mar 12, 2023
CrimsonShoe959
Mar 12, 2023
261 Posts
Quote from helicopter2 :
T bills have higher returns (and state tax exempt), but you don't have to deal with Treasury Direct (or buying in increments of $1000 through a brokerage) which is a huge bonus
If thats tbills only advantage (no state tax), and this cd has instant withdrawal (after the first week), tbill is a worse prospect all around in every state with no income tax, right? Is there anything redeeming about a tbill for those of us in texas, washington, florida, wyoming etc?
Mar 12, 2023
261 Posts
Joined Aug 2020
Mar 12, 2023
CrimsonShoe959
Mar 12, 2023
261 Posts
Quote from WallStArb :
Don't bother with Treasury Direct - just use Fidelity or Schwab and you can buy for free and sell before maturity if needed. TD you are stuck and you can find better yields on Fidelity
Fidelty is acting as your custodian then? If they bankrupt your tbill will be liquidated to pay their important clients back first if they have legal custody of it like stocks.
1
Mar 12, 2023
541 Posts
Joined Jul 2011
Mar 12, 2023
stormer0115
Mar 12, 2023
541 Posts
Quote from explorerespect :
Is it safe to keep your money in banks after SVB downfall?
Yes, as long as the bank is a member of the FDIC and the cash you stash in that bank is under the FDIC insurance limit. You can find out if your bank is a member and more info on the insurance limit on their website: https://www.fdic.gov/
Last edited by stormer0115 March 11, 2023 at 10:34 PM.
Mar 12, 2023
261 Posts
Joined Aug 2020
Mar 12, 2023
CrimsonShoe959
Mar 12, 2023
261 Posts
Quote from namlook :
The safe is the first place people will attack. Better to keep it buried in clean cat litter boxes with some dummy poop on top so it looks like it's been pooped in. No one will dig through cat litter looking for valuables.
Fire ignores the cat poop for some reason.
1

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Mar 12, 2023
151 Posts
Joined Jul 2005
Mar 12, 2023
mofofofo
Mar 12, 2023
151 Posts
anyone know if FDIC-insured means just the cash in your account? what if you have a mixture of cash, stocks, bonds, CDs?
1

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