This cut comes only after one week since the last rate cut. CD rates also went down. The 12-month CD rate is now 1.60% APY (was 1.64%)
Refer to my Ally review
for more details and for rates histories.
Ally Bank still offers 3.15% APY on a 5-year CD. The nice feature of Ally's CDs is a very small early withdrawal penalty of only 60 days of interest. Refer to my Ally CD review
for more details.