We haven’t looked at Ally Bank CD rates here at CD Interest Rates Info since Ally was still commonly called GMAC Bank and the new name hadn’t sunk in yet. It’s time once again to update you on Ally CD interest rates.

There are two basic CD type sat Ally Bank: Classic and No Penalty. The No Penalty comes in only one term, which is 9 months at 1.90% annual percentage yield (APY). This account allows the owner to close it at any time and withdraw funds during the term with no penalty.

The other Ally CD interest rates are found in the standard accounts. GMAC was always competitive and Ally CD rates continue that trend.

A 3 month term gives a 1.10% APY and a 6 month term gives 1.60% APY. 12 or 18 months has a 2.00% APY and 2 years a 2.25% APY. The CD rates at Ally Bank continue with 3 years giving 2.70% APY and 4 years 2.85% APY. Five years finishes it out with Ally CD interest rates at 3.25% APY.

All of these Ally Bank CD rates require no minimum deposit to open, have no fees attached (unless it’s a standard CD and you withdraw early). All interest compounds daily. These compare to teh current 1.75% and 1.70% APY variable rates on Ally savings and money market accounts right now.

All accounts at Ally are FDIC insured to the fullest extent of the law. If any of these Ally CD interest rates appeal to you, lock yours in quickly. Rates change often and the best Ally CD rates will change soon.