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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
62,475 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
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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
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in Financial Tools & Services (4) ally - Bank Advertiser
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5% APY
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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 Jul 2016
L2: Beginner
> bubble2 81 Posts
captaincaptive
08-08-2023 at 10:09 AM.
08-08-2023 at 10:09 AM.
You can find much better CD deals at raisin.com.
Reply
Joined Jul 2008
You can call me "Al"
> bubble2 18,308 Posts
38,677 Reputation
Original Poster
MsGal
08-08-2023 at 11:28 AM.
08-08-2023 at 11:28 AM.
Quote from captaincaptive :
You can find much better CD deals at raisin.com.
Have you used any of those institutions? I've never even heard of most of them.
Reply
Joined Oct 2008
L10: Grand Master
> bubble2 8,839 Posts
644 Reputation
DontTaxBeer
08-08-2023 at 07:22 PM.
08-08-2023 at 07:22 PM.
not a slick deal. citizens bank has 5.5% CD. Ally is the last to increase their interest rates, and at less than the competition. pass.
Reply
Joined Aug 2014
L3: Novice
> bubble2 143 Posts
19 Reputation
silvermember
08-08-2023 at 09:38 PM.
08-08-2023 at 09:38 PM.
Quote from Siwy12 :
if you look at historical charts - stock markets typically crash AFTER the Fed starts lowering rates back down... lowering rates is an admission that economy is in bad shape...
Another way to look at it is that the feds see the sign of a recession and then lowers rates, which causes the market to react.
Reply
Joined Nov 2010
"Buy Low-Live High"
> bubble2 3,348 Posts
596 Reputation
bchill
08-09-2023 at 01:37 PM.
08-09-2023 at 01:37 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.
This guy is correct. He just saved you from getting charged fees by a low IQ advisor. T Bills or ETF's are good options. Easy stuff here.
Reply
Joined Mar 2019
New User
> bubble2 19 Posts
10 Reputation
Manirahu
08-28-2023 at 04:01 AM.
08-28-2023 at 04:01 AM.
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.
I read somewhere that we can buy I Bonds only using Tax refund Money. Do you know we can buy I Bonds like T Bills ?
Reply
Joined Dec 2007
L8: Grand Teacher
> bubble2 3,621 Posts
600 Reputation
iahawks550
08-28-2023 at 04:14 AM.
08-28-2023 at 04:14 AM.
Quote from Manirahu :
I read somewhere that we can buy I Bonds only using Tax refund Money. Do you know we can buy I Bonds like T Bills ?
You have read the wrong stuff. I-bonds can be purchased with non-tax return money. I-bonds and T-bills are separate vessels. You can buy T bills and I bonds on US Treasury site
Reply

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Joined Dec 2007
L3: Novice
> bubble2 176 Posts
99 Reputation
namchucks
09-14-2023 at 08:23 PM.
09-14-2023 at 08:23 PM.
Quote from MaroonEducation852 :
Through work, I had a financial advisor who managed one of me retirement accounts. Every month I would receive a statement of what he bought and sold and at the end of the year, the firm always sent me a nice box of chocolates. After a number of years, I switched jobs and looked closely at the numbers. During all that time, I had made almost nothing on the invested money while he was being paid a fee every time he moved the money around. Literally 10 years resulted in minimal profit. I asked him not to manage my money anymore and simply moved it to an index fund. Over the last few years made 4x what he brought in over 10 years and that includes the crappy market during covid that we endured. I'm sure there are good Advisors out there but there are also plenty of them who just use your money to create their own paycheck.

Ouch. Sorry for your loss
Reply
Joined Jan 2009
L3: Novice
> bubble2 160 Posts
24 Reputation
flytahoe
09-23-2023 at 07:32 PM.
09-23-2023 at 07:32 PM.
Fidelity has brokered CD's going for 5.7% (one year). The bank is JP Morgan Chase but that doesn't really matter as they are all insured. I have an account and it takes me one minute to click on the fixed income section and buy the CD. No paperwork to fill out of course if you already have a Fidelity account.
Reply
Joined Dec 2007
L5: Journeyman
> bubble2 992 Posts
327 Reputation
if200
09-25-2023 at 12:13 PM.
09-25-2023 at 12:13 PM.
Quote from flytahoe :
Fidelity has brokered CD's going for 5.7% (one year). The bank is JP Morgan Chase but that doesn't really matter as they are all insured. I have an account and it takes me one minute to click on the fixed income section and buy the CD. No paperwork to fill out of course if you already have a Fidelity account.
Hi, I don't have fidelity but see this one year callable CD on my brokerage CD page.
Is this the same one? The one I see is callable. Almost opened a fidelity account and wonder if they sell different products there that are only for Fidelity. Thanks!
.
JPMORGAN CHASE BANK (OH)
1 YEAR, Callable, Next Call 03-29-2024 @ 100.000
CUSIP: 46656MQE4

Quite a few non callable CDs from big banks at 5.5% from 6 months to 18 months. 5.350 for 2 years and so on.

Monday auction for 1 year Treasuries should be close to 5.5% which is way better for people in high state and local tax areas unless you are buying in a retirement account where everything ends up being taxed at the same rate.
Reply
Joined Sep 2003
Worlds Most Modest Man
> bubble2 19,432 Posts
3,117 Reputation
beowulf7
09-25-2023 at 04:32 PM.
09-25-2023 at 04:32 PM.
Quote from flytahoe :
Fidelity has brokered CD's going for 5.7% (one year). The bank is JP Morgan Chase but that doesn't really matter as they are all insured. I have an account and it takes me one minute to click on the fixed income section and buy the CD. No paperwork to fill out of course if you already have a Fidelity account.
That's the only CD from Fidelity's list that is callable. The others listed (granted, at a lower interest rate) are not callable.
Reply
Joined Dec 2007
L5: Journeyman
> bubble2 992 Posts
327 Reputation
if200
09-26-2023 at 09:30 AM.
09-26-2023 at 09:30 AM.
Quote from beowulf7 :
That's the only CD from Fidelity's list that is callable. The others listed (granted, at a lower interest rate) are not callable.
Thanks for the reply
Reply
Joined Jul 2009
L5: Journeyman
> bubble2 980 Posts
211 Reputation
bargaindeal
10-09-2023 at 10:53 PM.
10-09-2023 at 10:53 PM.
Quote from beowulf7 :
That's the only CD from Fidelity's list that is callable. The others listed (granted, at a lower interest rate) are not callable.
what does callable mean? I am seeing this on fidelity. Is this the only one, it says settlement daye 1/16/23

Click image for larger version Name: Screen Shot 2023-10-09 at 9.50.54 PM.png Views: 10 Size: 344.1 KB ID: 14332273
Reply
Joined Jul 2009
L5: Journeyman
> bubble2 980 Posts
211 Reputation
bargaindeal
10-09-2023 at 11:05 PM.
10-09-2023 at 11:05 PM.
Quote from beowulf7 :
That's the only CD from Fidelity's list that is callable. The others listed (granted, at a lower interest rate) are not callable.
also, do you mind explaining what this two differs? I don't understand the coupon column but both have similar yields, I'm not sure why the bottom one says NOTE, but only expires in 6 months. The filter is for 6 months treasuries. TIA
Click image for larger version Name: Screen Shot 2023-10-09 at 10.04.06 PM.png Views: 4 Size: 114.9 KB ID: 14332339
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Joined Sep 2003
Worlds Most Modest Man
> bubble2 19,432 Posts
3,117 Reputation
beowulf7
10-10-2023 at 02:35 PM.
10-10-2023 at 02:35 PM.
Quote from bargaindeal :
what does callable mean? I am seeing this on fidelity. Is this the only one, it says settlement daye 1/16/23

Attachment 14332273
Callable means the issuer can cancel your CD whenever they want and pay you whatever was earned up to that point. For example, if a 12-mo. callable CD is paying 6% (I know that's high, but using as an example for easy math), then your $10k investment should get you $600 in 1 yr. Let's say they call your CD after 6 months. They're basically returning the $10k to you and the $300 earned up to that point.
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