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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
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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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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.
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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 2003
Worlds Most Modest Man
> bubble2 19,434 Posts
3,117 Reputation
beowulf7
10-10-2023 at 02:36 PM.
10-10-2023 at 02:36 PM.
Quote from bargaindeal :
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
Attachment 14332339
Dont' worry about those details in the description. Just sort the column that shows "Yield to Worst" so that the highest rate is listed first (on top). See if the time frame matches what you want then buy it. Or go to the next one if you want longer or shorter, and so on.
Reply
Joined Jul 2009
L5: Journeyman
> bubble2 980 Posts
211 Reputation
bargaindeal
10-12-2023 at 11:03 PM.
10-12-2023 at 11:03 PM.
Quote from beowulf7 :
Dont' worry about those details in the description. Just sort the column that shows "Yield to Worst" so that the highest rate is listed first (on top). See if the time frame matches what you want then buy it. Or go to the next one if you want longer or shorter, and so on.
thx for the reply. so I bought something on Etrade w/ 1k to try it on 10/09, and says settlement date on 10/12. But on 10/10 morning I got a notification that it was bought and says I got 26.xx for it. This was for a 6 months. but now that I checked it, it says this. what does this mean? TIA
Click image for larger version Name: Screen Shot 2023-10-12 at 10.01.39 PM.png Views: 8 Size: 48.7 KB ID: 14362951
Reply
Joined Nov 2011
L3: Novice
> bubble2 233 Posts
18 Reputation
mikemir121
10-18-2023 at 06:05 AM.
10-18-2023 at 06:05 AM.
Before opening another bank account, I counted I have five savings accounts. Over the years, I have opened them for one reason or another. Is that too many open babks affecting my credit score or let's say getting a mortgage?
Reply
Joined Nov 2014
L3: Novice
> bubble2 176 Posts
18 Reputation
SteveV5660
10-18-2023 at 06:48 AM.
10-18-2023 at 06:48 AM.
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.
This or go straight to Treasury Direct and buy the treasury directly ( a little annoying at first to learn, but easy after that). Not as immediately liquid as an ETF like SGOV, but I got 13 week treasuries for @ 5.5% .

Also, I don't think the SGOV is fully tax exempt as the above statement (not sure, thought I read a small difference). The direct treasuries are fully tax exempt.
Reply
Joined Jul 2009
L5: Journeyman
> bubble2 980 Posts
211 Reputation
bargaindeal
10-18-2023 at 05:26 PM.
10-18-2023 at 05:26 PM.
Quote from SteveV5660 :
This or go straight to Treasury Direct and buy the treasury directly ( a little annoying at first to learn, but easy after that). Not as immediately liquid as an ETF like SGOV, but I got 13 week treasuries for @ 5.5% .

Also, I don't think the SGOV is fully tax exempt as the above statement (not sure, thought I read a small difference). The direct treasuries are fully tax exempt.
Hey steve, did you have to go through a authorization? I sent it in but the rep says it will take at least 20 weeks. So i cant do anything at the moment. Any tips?
Reply
Joined Apr 2013
L3: Novice
> bubble2 229 Posts
52 Reputation
Formul8or
10-18-2023 at 05:31 PM.
10-18-2023 at 05:31 PM.
Quote from MsGal :
We've been with them for 11 years and never had a single issue. Their customer service is excellent and they are available 24/7.

Must not have had stocks with them in 2020 when their entire investing platform went down for days. I got everything pulled out from them after they couldn't handle that
Reply
Joined Nov 2014
L3: Novice
> bubble2 176 Posts
18 Reputation
SteveV5660
10-19-2023 at 05:46 AM.
10-19-2023 at 05:46 AM.
Quote from bargaindeal :
Hey steve, did you have to go through a authorization? I sent it in but the rep says it will take at least 20 weeks. So i cant do anything at the moment. Any tips?
No, nothing like that at all. It went pretty easily. I opened my account a couple years ago and don't remember if it took a few days to get my bank connected but that would be about it.
Reply

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Joined Jul 2009
L5: Journeyman
> bubble2 980 Posts
211 Reputation
bargaindeal
10-25-2023 at 05:36 PM.
10-25-2023 at 05:36 PM.
Quote from bargaindeal :
thx for the reply. so I bought something on Etrade w/ 1k to try it on 10/09, and says settlement date on 10/12. But on 10/10 morning I got a notification that it was bought and says I got 26.xx for it. This was for a 6 months. but now that I checked it, it says this. what does this mean? TIA
Attachment 14362951
Does anybody use Etrade to trade t-bills? Is this what it suppose to say? the gain will fluctuate but at the end of the term, in my case 6 months, I will get the $1000? I'm still a newbie at this. From the cost basis, I subract 97.31 from 100, and get 2.69. muliply by 2 to get annual rate of 5.38. is this correct?
Reply
Joined Feb 2018
L2: Beginner
> bubble2 80 Posts
10 Reputation
CheapCharlie2018
03-09-2024 at 07:51 AM.
03-09-2024 at 07:51 AM.
Quote from thegman230 :
Isn't ally bank horrible with problems?

Yes!!! They can freeze your whole accounts and you can't do anything about it for weeks! Make sure you have different bank for backup to pay bills and needs.
Reply
Joined May 2015
L3: Novice
> bubble2 159 Posts
30 Reputation
Cam1596
03-10-2024 at 08:14 PM.
03-10-2024 at 08:14 PM.
Ally is a terrible bank lol
2
Reply
Joined Feb 2024
New User
> bubble2 1 Posts
10 Reputation
NavyShape9382
03-10-2024 at 08:15 PM.
03-10-2024 at 08:15 PM.
Quote from Cam1596 :
Ally is a terrible bank lol

Agreed
2
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