New Publicity of Ally Bank's Hot CD Deal

The NYT Bucks Blog just caught on to Ally Bank's 60-day early withdrawal penalty for all CD terms. I did my first review on this hot deal in January. Fortunately, Ally Bank's 5-year CD rate hasn't fallen much since then. However, with more publicity like this, the rate may go down.

Please see this blog post on this issue. I've received assurance from Ally that they would not increase the penalty on existing CDs. I was told that you should be able to get confirmation on this from Ally customer service reps. You might want to use Ally Bank's online chat service, and keep a copy of the chat transcripts for your records.