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Ally Bank: 9-Month High Yield Certificate of Deposit Account (CD) Expired
5% APY
(w/ No Minimum Deposits)
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
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
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
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
in
Financial Tools & Services
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ally - Bank Advertiser
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From the email:
"Update:
Your Savings Account rate is increasing from 4.00% to 4.25% Annual Percentage Yield (APY) on all balance tiers. Your new APY goes into effect on 08/01/2023, and will appear in your account on 08/02/2023."
Does SGOV make monthly distributions and are they both federal and state tax free or just state? Thanks!
High yield CD (w/ early withdrawal penalty)
- 15 months 5.5%
No penalty CD
- 9 months 5.25%
You're only talking about a difference of $250-500 return on a $100k balance in 1 year, so squabbling over a quarter or half percent may not be a big deal to most people for these short term investments.
Thanks again!
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"Update:
Your Savings Account rate is increasing from 4.00% to 4.25% Annual Percentage Yield (APY) on all balance tiers. Your new APY goes into effect on 08/01/2023, and will appear in your account on 08/02/2023."
I can't imagine a situation where this "deal" would be a good idea for someone. Even if you live in a state with no income tax, you still get paid less with Ally.
Does that mean, starting on day 11, you have to pay Ally a ransom to get your matured deposit back?
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