Ally certificate of deposit review

Would you like to read a comprehensive review of the Ally certificate of deposit? Responsible Economy has conducted an in-depth analysis of all its features, including the interest rate, terms, fees, and everything you need to know. Additionally, you’ll have access to a comparison of the best certificates of deposit in the United States for 2023, along with an explanatory video. Welcome!

Explicative video

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Features

In this section, we present all the characteristics of the Ally Certificate of Deposit:

Interest rate

The Ally Certificate of Deposit offers varying interest rates depending on the chosen term. The maximum interest rate available is an attractive 4.80% APY, which can be obtained with a term of 18 months. Each term option comes with its own distinct interest rate:

Terms	Yields
3 months	2.50% APY
6 months	3.50% APY
9 months	4.15% APY
12 months	4.50% APY
18 months	4.80% APY
36 months	4.25% APY
60 months	4.25% APY

Indeed, Ally offers a competitive certificate of deposit with an attractive maximum interest rate of 4.80% APY. This rate can make the Ally Certificate of Deposit a compelling choice for potential investors looking to maximize their returns. With such a competitive interest rate, Ally proves to be a strong contender in the certificate of deposit market.

Fees

When evaluating your options, it’s essential to take into account the annual or monthly maintenance fees. The good news is that Ally certificate of deposit has no maintenance fees whatsoever, and it’s completely free to open. This makes it a highly attractive choice for investors looking for a cost-effective and hassle-free investment opportunity.

Minimum deposit

There’s no need for a minimum initial deposit, which undoubtedly gives this certificate of deposit a significant advantage over others.

Best certificate of deposit in 2023

We have compiled a ranking of the best certificates of deposit that can be opened in the United States in 2023

Certificates of deposit calculator

We have developed a deposit calculator so that you can easily see how much money you can earn:

Ally certificate of deposit calculator

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Pros and cons

After thoroughly reviewing the features of the Ally certificate of deposit and comparing it with the best CDs in the United States, we have compiled a table summarizing all the advantages and disadvantages:

Pros	Cons
No fees
4.80% APY

Requirements

To open this certificate of deposit, you must meet the following requirements:

• Reside in the United States.
• Be at least 18 years old.
• Possess a valid Social Security Number.
• Have an American bank account number.

Conclusion

After conducting our comprehensive review, we have concluded that Ally offers one of the best certificates of deposit in the market. The key factors contributing to this assessment are the maximum interest rate of 4.80% APY, which is quite competitive, and the absence of any fees associated with the account. Additionally, the fact that no minimum initial deposit is required makes Ally’s certificate of deposit an even more attractive option for potential investors. Overall, with its combination of high interest rates, fee-free structure, and no minimum deposit requirement, Ally stands out as a top choice for individuals seeking a rewarding and accessible investment opportunity.

Frequent questions

Now we answer all the questions you may have about the Ally certificate of deposit:

More information about Ally

Here is a table with information of interest about Ally

Information	Description
Website	https://www.ally.com/
Twitter	https://twitter.com/Ally
Facebook	https://www.facebook.com/ally
YouTube	https://www.youtube.com/c/ally

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Updated the day 1 September, 2023 by Alfredo Barandiarán