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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
62,626 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
62,626 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 Jun 2008
L9: Master
> bubble2 4,735 Posts
861 Reputation
AndrewinMD
08-02-2023 at 12:57 PM.
08-02-2023 at 12:57 PM.
Quote from MsGal :
Same, just for I bonds. And yeah, the website is pretty clunky. I remember when I was buying the I bonds and thinking "THIS is the best the government can do????" lol
I work for the government (Dept of the Army), and yes, that's the best the government can do. Government IT is abysmal, across the board. We use one system that seriously looks like it was developed on Win 3.1. I wish I was exaggerating.
Reply
Joined Dec 2022
L5: Journeyman
> bubble2 589 Posts
106 Reputation
BlueDesk9616
08-02-2023 at 01:12 PM.
08-02-2023 at 01:12 PM.
Quote from meetraffic :
Vanguard provides 5.45 https://investor.vanguard.com/inv...oducts/cds [vanguard.com].
I'm seeing 5.3% when you filter out callable CDs.

Also keep in mind that if you need to cash out early a brokered CD may gain or lose value (since its traded in an open market) whereas opening a 9-month CD directly with Ally is subject to a fixed 60 days interest early withdrawal penalty.
Reply
Last edited by BlueDesk9616 August 2, 2023 at 01:19 PM.
Joined Jul 2008
You can call me "Al"
> bubble2 18,308 Posts
38,677 Reputation
Original Poster
MsGal
08-02-2023 at 02:05 PM.
08-02-2023 at 02:05 PM.
Quote from AndrewinMD :
I work for the government (Dept of the Army), and yes, that's the best the government can do. Government IT is abysmal, across the board. We use one system that seriously looks like it was developed on Win 3.1. I wish I was exaggerating.

Oh, I know. My husband served 23 years in the Navy.
Reply
Joined Sep 2003
Worlds Most Modest Man
> bubble2 19,434 Posts
3,117 Reputation
beowulf7
08-02-2023 at 03:06 PM.
08-02-2023 at 03:06 PM.
I recommend checking this Fidelity website every so often to see what the going rates are for CDs, T-bills, and bonds for various term lengths:
https://fixedincome.fidelity.com/.../FILanding
Reply
Joined Aug 2011
L3: Novice
> bubble2 109 Posts
14 Reputation
gabe3
08-02-2023 at 03:27 PM.
08-02-2023 at 03:27 PM.
I'm using webull cash account thats paying 5% APY
1
Reply
Joined Mar 2009
L7: Teacher
> bubble2 2,152 Posts
213 Reputation
SlimeBoy
08-02-2023 at 03:58 PM.
08-02-2023 at 03:58 PM.
Quote from 02nz :
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.

Pass on that.

Try:

VMRXX
Vanguard Cash Reserves Federal Money Market Fund Admiral Shares
Reply
Joined Mar 2009
L7: Teacher
> bubble2 2,152 Posts
213 Reputation
SlimeBoy
08-02-2023 at 03:59 PM.
08-02-2023 at 03:59 PM.
Quote from AndrewinMD :
I work for the government (Dept of the Army), and yes, that's the best the government can do. Government IT is abysmal, across the board. We use one system that seriously looks like it was developed on Win 3.1. I wish I was exaggerating.

Screw those damn bonds. Anything related to Government is a pain in the ass to cash.
Reply

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Joined Mar 2009
L7: Teacher
> bubble2 2,152 Posts
213 Reputation
SlimeBoy
08-02-2023 at 04:00 PM.
08-02-2023 at 04:00 PM.
Quote from Siwy12 :
Why bother with banks if you can get tbills for 5.5%....

Capped at $25K and a pain to liquidate.
Reply
Joined Sep 2007
L5: Journeyman
> bubble2 594 Posts
58 Reputation
LmG7119
08-02-2023 at 06:40 PM.
08-02-2023 at 06:40 PM.
Quote from mykohsu :
It seems to be 4% right now?
5.31% https://www.blackrock.com/us/indi...d-etf-fund
Reply
Joined Sep 2007
L5: Journeyman
> bubble2 594 Posts
58 Reputation
LmG7119
08-02-2023 at 06:42 PM.
08-02-2023 at 06:42 PM.

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.
You do your own research. I keep 2nd level emergency cash in it.
Reply
Joined Sep 2007
L5: Journeyman
> bubble2 594 Posts
58 Reputation
LmG7119
08-02-2023 at 06:45 PM.
08-02-2023 at 06:45 PM.
If you really want to waste money, sure, get a financial adviser. Or just go on the bogleheads forum and learn the basics.
Quote from Cruceh :
Skeptism on sgov is fine whatever. He can get a money market account based on us treasuries instead. But then telling someone to get a financial advisor is even worse advise.
Reply
Joined Jan 2011
L3: Novice
> bubble2 154 Posts
37 Reputation
NopeImPie
08-02-2023 at 07:07 PM.
08-02-2023 at 07:07 PM.
I got 5% on a 3 month CD at a local credit union, no clue why this is a slick deal when it's most places with better terms
Reply
Joined Jun 2010
L2: Beginner
> bubble2 28 Posts
10 Reputation
miked1136
08-02-2023 at 08:40 PM.
08-02-2023 at 08:40 PM.
Quote from cheapchips :
HYSA just went up to 4.25% as well!

They are higher I get 5.30 with Wealthfront
Reply
Joined Aug 2004
L5: Journeyman
> bubble2 848 Posts
34 Reputation
dealkk
08-02-2023 at 09:05 PM.
08-02-2023 at 09:05 PM.
Quote from Jeff630 :
I have 500k in investment and banking with them and never had problem.

Good for you, i open account because of signed up bonus. I deposit some large check and somehow it is triggered and they think i am a scammer and treat me like a scammer. They lock up my account without any communication and i cant login. They keep saying under investigation and i cannot do jack for like months. Like i say just my personal experience. I will not bank with them again. Horrible bank for me.
Reply

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Joined Aug 2018
L2: Beginner
> bubble2 27 Posts
30 Reputation
Dictionary24
08-02-2023 at 09:47 PM.
08-02-2023 at 09:47 PM.
Quote from miked1136 :
They are higher I get 5.30 with Wealthfront
Is that rate only when you refer someone and for 3 months?
Reply
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