Bitcoin tops 41,000. Check current cryptocurrency prices here:

Ally Bank CD Interest Rates: 12 Month CD Rates at 1.00%

In years past Ally Bank CD rates were considerably higher than rates are now but that isn't unusual. All banks have lowered CD rates since the financial crisis and recession. Current CD rates at Ally Bank are still some of the best CD rates available right now and well above the national average rates.

Ally Bank 1 year bank CD rates are currently at 1.00 percent with an APY of 1.01 percent. That rate is one of the highest CD rates around. Ally's 12 month CD rate is above Bankrate's current national average of 0.75 percent. Ally's 12 month CD interest rate is also well above the FDIC's national average of 0.27 percent.

In addition to offering their regular high yield certificates of deposit Ally is also offering an 11 month No Penalty certificate of deposit and two Raise Your Rate certificates of deposit. These certifiates of deposit are also some of the top CD bank rates available today.

The current No Penalty CD rate is 0.92 percent with an APY of 0.92 percent. As you can figure out from the name of this CD account you can withdraw your money from the account at anytime (after the first 6 days of funding the CD) without incurring a penalty. You can read customer reviews about this CD account on Ally's website: No Penalty CD Reviews

Ally Bank's Raise Your Rate certificates of deposit are available in terms of 2 years and 4 years. Current Raise Your Rate CD rates on 2 year certificates of deposit are at 1.13 percent with an APY of 1.14 percent. 4 year CD rates are at 1.48 percent with an APY of 1.49 percent.

With the 2 year certificate of deposit you can have the CD rate increased at any time during the 2 year term if Ally increases the rate they pay on the CD account. The 4 year certificate of deposit gives you the ability to raise the CD rate twice during the 4 year term if Ally increases the rate.

Ally Bank CD Rates

High Yield CD Rates and APY

  • 3 Month CD Rates 0.44% APY 0.44%

  • 6 Month CD Rates 0.75% APY 0.75%

  • 9 Month CD Rates 0.74% APY 0.74%

  • 12 Month CD Rates 1.00% APY 1.01%

  • 18 Month CD Rates 0.94% APY 0.94%

  • 3 Year CD Rates 1.33% APY 1.34%

  • 5 Year CD Rates 1.73% APY 1.74%

Looking at the CD interest rates listed above the best rate deal is on 6 month and 12 month certificates of deposit. I wouldn't invest in 9 month or 18 month terms since those rates are low than shorter term rates.

Opening a certificate of deposit account at Ally Bank is quick and easy. You can open an account online in minutes and fund the account by doing an electronic transfer when you have a linked account setup with the Ally account.

To see how Ally Bank's CD rates compare with other banks you can use our CD rates table. We list CD rates at banks for many different certificate of deposit terms.
Author: Jason P. Jones
August 24th, 2012