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Ally Bank: 9-Month High Yield Certificate of Deposit Account (CD) Expired

5% APY
(w/ No Minimum Deposits)
+38 Deal Score
62,557 Views
Ally is offering their Ally Bank: 9-Month High Yield Certificate of Deposit (CD) at a 5% Annual Percentage Yield on All Balance Tiers (No Minimum Deposit) when you open an account and deposit funds.

Thanks to community member MsGal for finding this deal

Note, ensure that you have select the '9-Month' term to receive your 5% annual percentage yield on your balance tiers/account
  • FDIC-Insured Deposited (allowed by law)
  • Flexibility/Security/Open Name of a Trust
  • No Monthly Maintenance Fees
  • Digital Banking Tools Anywhere/Anytime
  • No Minimum Deposit Required
  • 0.05% Loyalty Reward w/ New or Renew CD
  • Manage your CD Online

Original Post

Written by
Edited July 30, 2023 at 03:34 PM by
Ally Bank [ally.com] is offering a 9 Month High Yield Certificate of Deposit at 5% APY with no minimum deposit.



About this deal:
No minimum deposit to open
Interest compounded daily
Deposits are insured by the FDIC up to the maximum allowed by law
Early withdrawal penalty applies
APY is fixed for the term of the CD and is subject to change upon renewal
Manage all aspects of your CD account online, including making early withdrawals, all without having to pick up the phone
If you purchase something through a post on our site, Slickdeals may get a small share of the sale.
Deal
Score
+38
62,557 Views
5% APY

174 Comments

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Featured Comments

Or you can buy a short-term treasury ETF like SGOV instead, get 5.3% of yield, interest is exempt from state income tax, and way more liquid.
Do not do what this guy says. Get a financial advisor if you're considering it. Do not get you financial advice from SD. Good luck.
I've never had any issues. I've had a checking, savings, and invest account with them for 6 years now.

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Joined Sep 2011
L4: Apprentice
> bubble2 486 Posts
50 Reputation
Jeff630
07-31-2023 at 06:30 PM.
07-31-2023 at 06:30 PM.
Quote from dealkk :
I have horrible experience with ally. I personally will not bank with them. Just personal experience.

I have 500k in investment and banking with them and never had problem.
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Joined Sep 2005
L9: Master
> bubble2 4,811 Posts
215 Reputation
ugabuga
07-31-2023 at 07:02 PM.
07-31-2023 at 07:02 PM.
Quote from 02nz :
TreasuryDirect is a perfectly fine alternative, I use it myself for Series I bonds. It's just that some find the website really clunky, and if you already have a brokerage account somewhere, buying an ETF like SGOV is as easy as it gets.

Sgov at fidelity?
Reply
Joined Oct 2017
L7: Teacher
> bubble2 2,818 Posts
867 Reputation
02nz
07-31-2023 at 07:21 PM.
07-31-2023 at 07:21 PM.
Quote from ugabuga :
Sgov at fidelity?

You can buy it at virtually any brokerage.
Reply
Joined May 2020
L3: Novice
> bubble2 111 Posts
70 Reputation
DonRab
07-31-2023 at 07:31 PM.
07-31-2023 at 07:31 PM.
I've never had any issues with Ally. They also have an HYSA at 4.25%.
1
Reply
Joined Mar 2010
L2: Beginner
> bubble2 60 Posts
10 Reputation
wizzerdo
07-31-2023 at 07:36 PM.
07-31-2023 at 07:36 PM.
Quote from mykohsu :
It seems to be 4% right now?
Just got an email today that's its moving to 4.25%
Reply
Joined Jul 2008
You can call me "Al"
> bubble2 18,308 Posts
38,677 Reputation
Original Poster
MsGal
07-31-2023 at 07:58 PM.
07-31-2023 at 07:58 PM.
Quote from mykohsu :
It seems to be 4% right now?
Quote from wizzerdo :
Just got an email today that's its moving to 4.25%

Their Money Market pays 4.40% and operates just like a savings account. I have never really understood what the difference is. Dontknow
Reply

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Joined Mar 2004
L10: Grand Master
> bubble2 7,834 Posts
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eb50
07-31-2023 at 08:39 PM.
07-31-2023 at 08:39 PM.
Citizens access savings is 4.5% with full liquidity
Reply
Joined Oct 2007
L6: Expert
> bubble2 1,052 Posts
208 Reputation
MikeyMike01
08-01-2023 at 04:09 AM.
08-01-2023 at 04:09 AM.
Quote from dflores88 :
Do not do what this guy says. Get a financial advisor if you're considering it. Do not get you financial advice from SD. Good luck.

Financial advisers are salespeople that charge exorbitant fees and lose their clients money. No one on this site needs a financial advisor.
Reply
Joined Sep 2018
L6: Expert
> bubble2 1,917 Posts
117 Reputation
slimdunkin117
08-01-2023 at 05:42 AM.
08-01-2023 at 05:42 AM.
Quote from jmequon :
This bank is awful. Not worth the higher rate of return
I've been using them since around 2010..
never any issues. Over a million stored with them
Reply
Joined Sep 2011
L6: Expert
> bubble2 1,074 Posts
173 Reputation
BeerNomad
08-01-2023 at 05:46 AM.
08-01-2023 at 05:46 AM.
I'm just about to sell my iBonds. Was looking for what to do next. Sounds like T-Bills or something like this.
Reply
Joined Dec 2005
Cheapskate
> bubble2 856 Posts
260 Reputation
Aslander
08-01-2023 at 05:47 AM.
08-01-2023 at 05:47 AM.
Yeah I've been with them since 2010 as my private checking and savings and have been very happy with them.

Good website and good customer service. Consistently good rates too.

Treasuries will yield more, so that's where most of my cash is that isn't in equities.
Reply
Joined Dec 2005
Cheapskate
> bubble2 856 Posts
260 Reputation
Aslander
08-01-2023 at 05:50 AM.
08-01-2023 at 05:50 AM.
U.S. Treasurys

US 1-MO

5.369%

US 2-MO

5.409%

US 3-MO

5.441%

US 4-MO

5.476%

US 6-MO

5.51%

US 1-YR

5.394%
Reply
Joined Oct 2011
L3: Novice
> bubble2 212 Posts
32 Reputation
jwcalla
08-01-2023 at 06:21 AM.
08-01-2023 at 06:21 AM.
I'm just doing T-bills now and don't bother with CDs anymore. Even short-term (4-week) T-bills will give a higher rate of return than most high-yield savings accounts, let alone CDs... and there's a tax advantage since I live in a high income tax state. And they're stupid-easy to buy, which is perfect for me.
Reply

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Joined Apr 2008
L4: Apprentice
> bubble2 409 Posts
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umonster
08-01-2023 at 08:01 AM.
08-01-2023 at 08:01 AM.
Quote from ugabuga :
Sgov at fidelity?
You can straight up by t-bills on fidelity also, and it's a much, much better experience than TreasuryDirect. The other advantage is you can sell your t-bills on the secondary market if, for some reason, you don't want to wait for the bill to mature. You can't do that on treasurydirect
Reply
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