GMAC CD Rates
Interest is compounded daily which gives you a better return than a CD that has interest compounded monthly, quarterly or annually. You can use Monitor Bank Rates’ CD Calculator to figure out what the return would be when interest is compounded daily.
You can open a CD online or by calling GMAC Bank Customer Care at 1-866-246-BANK (1-866-246-2265).
Requirements to open a CD account
GMAC penalty for early withdrawal of a certificate of deposit
The penalty is equal to 90 days of interest that has been or would be earned on a certificate with a term of less than or equal to one year. For certificate of deposits over 1 year the penalty is equal to 180 days of interest that has been or would be earned on a certificate with a term of more than one year.