Many investors are choosing to purchase short term CDs over longer terms. It's hard to justify locking your money into a long term CD when CD rates are low. Ally Bank has a great solution that gives you the best of both worlds - a decent CD rate to start and the opportunity to raise your CD rate later.
The Raise Your Rate CD from Ally Bank is currently crediting 2.02% APY for 2 years. Lock in a great rate now, plus have the option of a one-time rate increase if the rate goes up.
Raise Your Rate CD Features
- Open an account with $0
- No monthly fees
- Ally’s Ten Day Best Rate Guarantee - automatically get the best rate offered by Ally within the first 10 days of opening the account
- Daily compound interest for maximum earnings
- Ability to withdraw and receive earned interest as income - just let Ally know within ten days after your CD matures
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