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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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because he has no clue.
I am also interested in doing this.
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https://www.ishares.com/us/produc...y-bond-etf and look for 30-day SEC yield.
My parents bought a High Yield 18 mos. $250k CD back in May. The interest rate is 4.80%.
Current balance: $252,744.48
Current redemption amount: $250,817.63
They are wondering if they would do better to cash out of it now, pay the penalty, and buy the 9 month at 5%? At the end of the 9 months, if the rate is still 5% (or higher) and they don't need the money, they would roll it over. They are in their late 70's and the idea of having the money tied up for fewer months appeals to them but only if the math makes sense.
Thoughts?
My parents bought a High Yield 18 mos. $250k CD back in May. The interest rate is 4.80%.
Current balance: $252,744.48
Current redemption amount: $250,817.63
They are wondering if they would do better to cash out of it now, pay the penalty, and buy the 9 month at 5%? At the end of the 9 months, if the rate is still 5% (or higher) and they don't need the money, they would roll it over. They are in their late 70's and the idea of having the money tied up for fewer months appeals to them but only if the math makes sense.
Thoughts?
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