Ally Bank 5-Year CD Rate Continues To Fall

Ally Bank yet again cut the rate of its 5-year CD. It's now 2.14% APY (down from 2.17%).

My Money Blog has a useful review of Ally Bank's 5-year CD and its history.

We also have its rate history in our Ally Bank hub page. Here's its sad recent history:

• 9/3/2011    2.14%
• 8/31/2011  2.17%
• 8/20/2011  2.20%
• 7/26/2011  2.32%
• 7/7/2011    2.33%

With these latest rate cuts, Discover Bank's 10-year CD is looking better