Ally Bank No Penalty CD Reviews (Aug. 2020) | CD Accounts

Highlights
Minimum Deposit	$25,000
Deposit Term	11 months
APY (Annual Percentage Yield)	1.20%

Ally Bank No Penalty CD Review

Ally Bank No Penalty CD is offered by Ally Financial Inc., a bank founded in 2001 and based in Philadelphia, PA. Ally Bank No Penalty CD is available in 50 states (and Washington, DC).

Are cd accounts from Ally Financial Inc. federally insured?

Yes, your Ally Financial Inc. cd accounts are insured up to $250,000 per person by the Federal Deposit Insurance Corporation (FDIC #57803). The FDIC is an independent agency of the United States government that protects you against the loss of your insured deposits if an FDIC-insured bank or savings association fails. FDIC insurance is backed by the full faith and credit of the United States government.

What types of CDs does Ally Financial Inc. offer?

Liquid
Traditional

What APY does Ally Financial Inc. offer on its CDs?

Ally Bank No Penalty CD offers an APY of 1.20% (APY stands for annual percentage yield, rates may change). This is higher than the typical APY for online-only checking accounts, which is around 1% APY.

What types of terms does Ally Bank No Penalty CD offer?

Ally Financial Inc. offers CD terms of the following lengths:

Ally Bank No Penalty CD Rates & Terms
Description
APY (Annual Percentage Yield)	1.20%
APY Type	Fixed APY
Terms & Conditions URL	N/A
3-Month APY	N/A
6-Month APY	N/A
11-Month APY	1.20%
12-Month APY	N/A
2-Year APY	N/A
3-Year APY	N/A
4-Year APY	N/A
5-Year APY	N/A
7-Year APY	N/A

What is the minimum deposit to open a CD account with Ally Financial Inc.?

Ally Bank No Penalty CD requires a minimum initial deposit of $25,000 to open an account.

What types of early withdrawal penalties does Ally Bank No Penalty CD charge?

Financial institutions don't typically charge many fees on certificate of deposit accounts. However, some do charge a fee if you chooose to withdrawal your money before the CD term ends.

Ally Financial Inc. does not charge an early withdrawal fee.

Ally Bank No Penalty CD Fees
Description
Annual Fee	N/A
No Early Withdrawal Fee?	Yes
Transfer Fee	N/A
Rollover Fee	N/A
Early Withdrawal Fee Amount	N/A

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