Unbeatable 5 year CD Deal by Allied Bank
One of the best ways for people to earn more interest on their money in the bank was by opting for the Rewards Checking account that offers anywhere between 2 percent to 5 percent interest. However, Ally Bank now offers an excellent 5 year certificate deposit deal that helps you earn the same, if not more interest as the checking account.
The 5 year CD rate being offered by the bank on a 5 year deposit hovers between 2.6 percent and 3 percent. Unlike the checking account rates, you can be sure that the rates on your CD will last the entire term. If you want to withdraw the money before the term period is up, you can do so; however, you will need to pay a penalty. Despite this, the net annual rate you will be able to earn even when you foreclose the CD is better than what more other banks are offering. The interest you earn varies depending on when you withdraw the money without waiting for the term period to end.
- If closed after 12 months – 2.24%
- If closed after 24 months – 2.46%
- If closed after 36 months – 2.54%
- If closed after 48 months – 2.58%
- If withdrawn after term maturity at 60 months – 2.69%
