Ally Bank CD Rates: Ally Bank, formerly, GMAC bank is offering a 9 month CD rate of 2.47 percent that currently has an annual percentage yield of 2.50 percent. Ally Bank’s traditional 9 month CD rate is just a little higher at 2.57 percent with an annual percentage yield of 2.60%

The no risk certificate of deposit and the traditional certifcate of deposit have some of the best CD rates around for a 9 month CD. In fact, the 2.50% APY and 2.60% APY are higher than most 12 month CD rates. Those rates also beat the average rate on a 5 year CD which is currently 2.48 percent this past week.

This certificate of deposit is it’s a no risk CD. Meaning you can withdrawal your money without incurring an early withdrawal penalty. Though you have to withdrawal your funds within the first six days of funding your account. Other features include interest that is compounded daily and the CD account can be opened with no money deposited. Though what is the point of opening an account without depositing funds into it?