Ally Bank Offers Limited-Time 13-Month Select CD

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Deal Summary: 13-month CD, 1.25% APY, no minimum deposit

Availability: Internet Bank

Ally Bank is again offering a select CD which features a limited-time promotional rate and term (1.25% APY 13-month). This is a small improvement to Ally’s last select CD in October which had the same rate but a 15-month term. This is also the same rate as the 11-month No Penalty CD special that Ally was offering in December and early January. That No Penalty CD rate is back down to 0.87%. This new select CD is now the best deal at Ally for a term around one year.

APYMINMAXINSTITUTIONPRODUCTDETAILS
1.25%--Ally Bank13-Month Select CD
Accounts mentioned in this post. Rates as of February 19, 2017.

Below are the details of this new select CD:

  • 1.25% APY, 1.24% interest rate
  • 13-month Select CD available for a limited time.
  • No minimum opening deposit or maximum balance cap.
  • Early Withdrawal Penalty is 60 days of interest.
  • At maturity, the account rolls over into a 1-year term unless you provide alternate renewal instructions.

Availability

Headquartered in Midvale, Utah, Ally Bank is currently the 23rd largest bank in the country, with assets in excess of $114 billion and over 2.2 million customer accounts. Ally offers its services and product line to individuals 18 years or older, who have a valid Social Security number and a U.S. mailing address.

Applying for the 13-month select CD can be done using Ally Bank’s online application or by calling Ally (877-247-2559). You can fund your new account in a few different ways:

  • Transfer from an Ally or non-Ally account
  • Check (by mail or Ally eCheck Deposit)
  • Wire transfer

Bank Overview

Ally Bank (FDIC Certificate # 57803) has an overall health grade of "A+" at DepositAccounts.com, with a Texas ratio of 1.51% (excellent) based on September 30, 2016 data. In the past year, Ally has increased its deposits by $10.38 billion, an excellent annual growth rate of 16.23%. Please refer to our financial overview of Ally Bank for more details.

How the CD Compares

When compared to 90 similar length-of-term CDs offered by internet banks tracked by DepositAccounts.com, only six banks offer a higher rate than Ally’s 13-month select CD rate. The table below shows how Ally’s 13-month select CD compares to two of the top 1-year CDs from internet banks:

Interest RateCD Length of TermInternet Bank
1.36% APY1 Year Yield Pledge CD ($5k min)EverBank
1.35% APY1 Year CD ($2.5k min)Live Oak Bank
1.25% APY13-Month Select CD (no min)Ally Bank

The above rates are accurate as of 2/13/2017.

To look for the best CD rates, both nationwide and state specific, please refer to our CD rates table or our Rates Map page.

Comments
RJM
RJM   |     |   Comment #1
They watched me take out 6 figures last week for Penfeds 15 month 1.41%.

Had they done this a week or so sooner, I might have kept it at Ally at 1.30% (with the .05% renewal)

Too little, too late. Ally.
  |     |   Comment #2
Redoing the 11 month no-penalty at that rate would've been a lot nicer.
Kaight
Kaight   |     |   Comment #3
14 month CD bogey is 1.75%. JMHO

Get very far south of that and I commence yawning uncontrollably.
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Availability: Internet Bank

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