APY GUY: Maximize Your Savings & Earnings

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Capital One CD Rates – Now up to 5.25% APY!

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Fact Checked :
Updated

Capital One offers a number of online certificates of deposit as part of their 360 product suite. The terms come with standard lengths ranging from 6 months to 5 years and offer above average APYs (annual percentage yields).

Capital One’s CDs are also available to a wide range of people as they have no minimum deposit requirements or any fees to worry about.

To see if Capital One’s CD rates are right for you, continue reading our review below.

Capital One 360 CD Rates + Account Details

image credit: capitalone.com

Capital One 360 CDs are federally insured by the FDIC up to the applicable limits. As mentioned, there are no minimum deposit requirements but you will need to deposit something in the account to open it. There is also a maximum deposit allowance of $1,000,000.

360 CD Rates

TermAPY
6 months4.30%
9 months4.30%
12 months5.00%
18 months5.25%
24 months4.40%
30 months4.30%
36 months4.30%
48 months4.20%
60 months4.10%
APY = Annual Percentage Yield

Capital One’s CD rates were surveyed September 11, 2023.

To give these yields some context, the average yield on a 12 month CD and a 60 month CD sit at just 1.76% and 1.41% APY, respectively, according to recent FDIC data.

That said, top yields from online banks and nationally available credit unions are now hovering around 5.50% and 4.50% APY for the same respective terms.

How Capital One’s CD Rates Compare

Take a look at the tables below to see how Capital One’s best CD rate compares to the best CD rates offered by other big banks and major credit unions.

Capital One CD Rates vs Big Banks

BankBest CD Rate (APY)
U.S. Bank4.95%
Citibank4.90%
Wells Fargo5.26%
Bank of America4.75%
Chase Bank5.00%
Capital One5.25%
Rates surveyed September 11, 2023.

Capital One CD Rates vs Credit Unions

Credit UnionBest CD Rate (APY)
NASA Federal Credit Union5.55%
Connexus Credit Union5.76%
Green State Credit Union5.45%
Navy Federal Credit Union4.95%
Langley Federal Credit Union5.30%
Capital One5.25%
Rates surveyed September 11, 2023.

How Much Can You Earn with a Capital One CD?

The total amount of money you can make from a Capital One CD is going to depend on your deposit size, the term you select and the going APY (annual percentage yield). Below is a table showing hypothetical earnings from a few Capital One CDs based on a $25,000 deposit.

CD TermAPYEarnings
6 months4.30%$531.84
18 months5.25%$1,994.37
24 months4.40%$2,248.40
60 months4.10%$5,562.84
Earnings = Sum of all interest payments through maturity.

Compounding and Crediting Interest

Interest is compounded monthly on all Capital One 360 CDs and credited to your account either monthly, yearly or upon maturity. You can have these funds deposited into a separate account or returned to the CD for further compounding.

Grace Period

Capital One 360 CDs come with a standard 10 day grace period. You’ll also want to note that Capital One CDs automatically renew, so if you plan on adding or withdrawing funds to your CD this 10-day period is the only time you can do so penalty free.

Early Withdrawal Penalties

If you withdraw funds from a CD you opened with a term of 12 months or less, you’ll have to pay three months’ interest as a penalty.

If you withdraw funds from a CD you opened with a term of greater than 12 months, you’ll have to pay six months’ interest.

Please note that it is possible to incur a penalty that dips into your principal if the withdrawal happens early enough.

How to Open a Capital One 360 CD?

To open a Capital One CD, start here and click on the blue “Open Account” button.

The first step is to select whether or not you already have a Capital One login. If you’ve opened a checking, savings or even credit card with them (either online or in a branch) then you likely have a login already. If you do, this should expedite the process.

If this is your first Capital One account, then you’ll need the following information to complete the CD application process (list below). This process should take about 5 minutes to complete online.

  • Verifiable Email Address
  • Full Legal Name
  • Current Home Address
  • Phone Number
  • Employment Status (and job title)
  • Social Security Number
  • Date of Birth

Capital One will then use your personal data to confirm your identity. If you are looking to open a joint account, you must first go through this process individually then you can add another account holder online.

Once your identity is confirmed and the account is opened, you will be provided with your account number and the routing number. At this time you may fund your CD.

Funding a Capital One CD

If you don’t have an existing Capital One account, you will need to set up an electronic transfer from your current bank or credit union to fund your Capital One CD.

This will require the following financial information to complete:

  • Your current bank or credit union’s routing number
  • You current bank account number (where funds will be withdrawn from)

Capital One 360 CD Reviews and Customer Sentiment

The Capital One 360 product suite receives high marks across the board from third party review sites. Their savings products in particular – both the variable rate online savings account and the fixed rate online CDs – receive above average marks for consistently higher than average yields and flexible terms. Most notably the lack of minimum deposit or balance requirements to earn the advertised interest.

You can manage your money easily either online or through one of their native apps. Their IOS and Android apps both receive high marks (especially as far as banking apps go). Their IOS app currently has 4.9 stars out of 5, while their Android app has 4.6 stars out of 5.

Capital One Certificate of Deposit FAQs

Still have questions about Capital One’s CD rates? See what other consumers are asking around the web as well as our responses below.

Are Capital One’s CDs Callable?

No. Capital One’s certificates of deposit are not callable. They will never close out your CD prior to its maturity.

Are Capital One’s CDs FDIC Insured?

Yes. Capital One’s CDs are federally insured by the FDIC up to $250,000 per depositor.

Does Capital One Allow Joint CD Accounts?

Yes. Capital One allows joint CD ownership of 2 or more individuals.

Is There a Maximum Deposit for Capital One CDs?

Yes. Capital One CDs may not exceed $1,000,000.

Does Capital One Have a Money Market Account?

No. Capital One does not offer a money market account at this time.

What is Capital One’s Routing Number?

Capital One’s routing number is 031176110.

What is Capital One’s Phone Number?

Capital One’s phone number is (877) 383-4802.

Apple Bank CD Rates – Now up to 4.50% APY!

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Fact Checked :
Updated

Apple Bank serves the New York Metropolitan area, but has a storied history being founded in 1863 in Harlem in the aftermath of the Civil War.

Harlem was a primarily Dutch suburban village, not yet a part of New York City and the country was undergoing fundamental change. One element of this change was through financial reforms that brought about the formation of many regional banks.

Apple Bank was one of the few banking institutions that stood the test of time through the depression era, the 2008 financial collapse and up to present day.

Today, their coverage still remains in New York City and you must visit a local branch and speak with a banker to open one of their deposit products.

If you can manage that, you’ll find the APY (annual percentage yields) provided on some of their CDs are fairly competitive when compared to the national average(s), but don’t stack up as well against the best rates from FDIC-insured online banks.

For a full review of Apple Bank’s certificate of deposit suite, continue reading below.

Apple Bank CD Rates + Account Details

image credit: applebank.com

Apple Bank currently offers CDs with six terms ranging from 6 months to 3 years. Apple Bank is member FDIC and consumer deposits are federally insured up to the applicable limits. They also offer CDARS (certificate of deposit account registry service) which can offer FDIC insurance into the millions of dollars [learn more here]. We should note though that these accounts simply leverage the FDIC insurance of other institutions. Therefore they may come with different terms and conditions than what Apple Bank provides. You can speak with your Apple Bank representative for more information on how these products work and which banks they’ve partnered with.

Standard FDIC insurance covers consumer deposits up to $250,000 and $500,000 on joint accounts.

All Apple Bank CDs come with a minimum deposit requirement of $1,000.

CD Rates

CD TermAPY
3 months3.50%
6 months3.50%
7 months4.50%
9 months3.75%
1 year4.00%
18 months3.50%
2 years3.50%
3 years3.50%
4 years3.50%
5 years3.50%
APY = Annual Percentage Yield

The CD rates above were surveyed on September 8, 2023 and apply to IRA CDs as well.

To put the offers above in perspective, the current national average on a 12 month CD and a 5 year CD sit at just 1.76% and 1.41% APY, respectively according to FDIC data. However, the best CD rates from online banks are near 5.50% and 4.50% APY for the same respective terms.

Compounding and Crediting Interest

All Apple Bank CDs feature daily compounding interest that is credited to your account either monthly or quarterly.

By default interest payments will go back into the CD for further compounding but you may arrange to have this transferred to an Apple Bank checking, savings or money market account. This is ideal for those who plan on using interest payments for living expenses.

Early Withdrawal Penalties & Grace Period

If there’s a chance you may need some of your funds prior to the maturity of your CD, you may want to shop around for other banks or credit unions or go with a variable rate savings product that allows for fee-free withdrawals. CDs are designed to provide a fixed rate for a fixed period of time.

If you do need access to your funds prior to maturity, here is what you will pay with Apple Bank.

Apple Bank Early Withdrawal Penalties

CD TermPenalty
1 year or less$50 + 1% of amount withdrawn
1 year or more$50 + 3% of amount withdrawn

Many banks and credit unions have early withdrawal penalties on their CDs, however, Apple Bank’s are quite aggressive. Fees usually chip away at interest earnings, but don’t always eat into the principal quite like Apple Bank’s fee structure could.

If you’re intending to open an IRA CD however, you may be able to avoid some or all of an early withdrawal fee depending on your individual circumstance.

For example, if you turn 70.5 years of age this calendar year, you’re allowed to withdraw up to 20% of the principal from an IRA CD penalty-free. You’ll want to reach out to a certified advisor or tax professional to understand the tax implications.

Grace Period

Apple Bank also has a limited grace period when compared to other banks and credit unions.

The grace period is the time after your CD matures in which you can add or withdraw funds without incurring any fees.

Most banks have a grace period of 10 days. Apple Bank, however, has a grace period of just 5 days.

If nothing is done during this time, Apple Bank will renew your CD with the same terms at the going APY.

They will send you a notice of your grace period prior to its start, but we would recommend setting your own notifications as well if you intend to withdraw or add funds after your CD matures.

How Much Can You Earn With an Apple Bank CD?

The amount of money you can make with an Apple Bank CD depends on the term you select, its APY and your deposit size. Below is a table showing total earnings via interest payments from a handful of Apple Bank’s CDs. It assumes a deposit size of $10,000.

CD TermAPYEarnings
3 months3.50%$86.37
7 months4.50%$260.09
18 months3.50%$529.57
5 years3.50%$1,876.86
Earnings = Sum of all interest payments made through maturity.

How do Apple Bank’s CD Rates Compare?

Want to see how Apple Bank’s best CD rates hold up against the best CD rates offered from other major banks? Take a look at the table below.

BankBest CD Rate (APY)
Apple Bank4.50%
Bank of America4.75%
Fifth Third Bank5.00%
Huntington Bank5.39%
TD Bank5.50%
CD rates surveyed September 8, 2023.

Fidelity CD Rates – Now up to 5.40% APY!

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Fact Checked :
Updated

Fidelity is a multi-national financial services corporation based out of Boston, Massachusetts. They are one of the top 10 AMC (asset management companies) in the world administering $11.7 trillion in total assets.

Fidelity offers a wide range of services, products and tools to suit investors of varying experience levels and risk tolerances.

In this review we will focus on the brokered CDs offered through Fidelity. These can be found under their fixed income and bonds category.

It is important to note that Fidelity is not a bank, but a brokerage firm. Therefore Fidelity does not issue any certificates of deposit themselves, but rather “brokers” or resells them to their clients. The deposits are still obligations of the issuing bank, and thus come with FDIC-insurance up to $250,000 per depositor. That said, because Fidelity is a brokerage service, you can hold multiple CDs in your brokerage account with them, effectively expanding your FDIC coverage past the $250,000 limit. This is also true for their cash management account which allows for FDIC coverage up to $1.25 million.

You can open new issue CDs and/or secondary market CDs through Fidelity. New issue CDs are typically sold at par and clients do not pay a trading fee to purchase them. Purchases (and sales) of secondary CDs incur a trading fee of $1 per CD (1 CD = $1,000 par value). Download Fidelity’s CD disclosure document for a full understanding of their terms and conditions.

Fidelity CD Rates + Account Details

image credit: fidelity.com

Fidelity offers ten standard term New Issue CDs ranging from 3 months to 5 years that come with a minimum deposit requirement of $1,000.

CD Rates

TermAPY
3 months5.35%
6 months5.40%
9 months5.40%
1 year5.35%
18 month5.30%
2 years5.15%
3 years4.90%
4 years4.75%
5 years4.65%
APY = Annual Percentage Yield

[The CD rates displayed above were surveyed on September 6, 2023.]

To give Fidelity’s new issue certificate of deposit rates (shown in the table above) some context, the current national average for 12 month and 5 year CDs sit at just 1.76% and 1.41% APY, respectively, according to FDIC data, while the top rates from online banks are hovering around 5.50% and 4.50% APY for the same respective terms.

How do Fidelity’s CD Rates Compare?

Take a look at the table below to compare Fidelity’s best CD rates with the top CD rates offered by other major brokerages.

BrokerageCD TermBest CD Rate (APY)
Charles Schwab10-18 months5.70%
Edward Jones6 months5.40%
Morgan Stanley6 months5.37%
Vanguard13-18 months5.70%
Fidelity6 and 9 months5.40%
These CD rates were surveyed on September 6, 2023.

The table below compares Fidelity’s CD rates with some of the best CD rates offered by popular online banks.

BankCD TermBest CD Rate (APY)
Ally Bank9, 14 and 18 months5.00%
Capital One15 months5.15%
Synchrony Bank16 months5.25%
Fidelity6 and 9 months5.40%
These CD rates were surveyed on September 6, 2023.

How Much Can You Earn with a Fidelity CD?

The amount of money you can earn with a Fidelity CD is going to depend on your deposit size and the CD you choose. The table below shows how much you’d earn in total interest payments with a $50,000 deposit on a handful of Fidelity’s CDs.

CD TermAPYTotal Earnings
6 months5.40%$1,332.25
12 months5.35%$2,675.00
2 years5.15%$5,282.61
5 years4.65%$12,757.58
Total Earnings = The sum of all interest payments through maturity.

How is Interest Calculated?

Interest on new issue Fidelity CDs do not compound. This is true with most brokered CDs as they require an immediate distribution of interest.

Interest payments will go into your Fidelity brokerage account as opposed to going back into the CD for further compounding.

Fidelity CDs that are purchased on the secondary market may be based on other interest rate calculations. You will need to contact the issuing bank or credit union with questions concerning the interest rate calculation on a secondary market CD.

Fidelity Auto Roll Program

Fidelity also has an “Auto Roll Program” that comes with some helpful features. The most notable being the ability to make early withdrawals on your CD without incurring steep fees. This is in contrast to bank or credit union CDs which generally take a portion of your interest as a fine.

The second stand-out feature of the Auto Roll Program is that it allows you to sell part of your CD (or add to it) prior to its maturity date.

You can also keep track of your earnings, set up alerts and auto-renew your CDs based on your chosen asset allocation.

If you would not like to be a part of the Auto Roll Program, you may cancel at any time.

Fidelity Brokered CDs: Pros and Cons

Brokered CDs offered through Fidelity come with many benefits and few downsides for those looking for FDIC insured accounts with high yields.

✅ For starters, the current rates offered (shown above) are more competitive than those found at top online banks and credit unions.

✅ The second major benefit is liquidity. If you need your funds prior to maturity you can simply sell it during any trading day on the open market. Keep in mind though that the market prices will fluctuate based on rates. This means it’s also possible to sell your deposit for less (or more) than you purchased it for.

For example, if you open a 5 year deposit and need the funds after year 2, during which time interest rates have risen considerably, you may have a tough time selling your deposit for your full purchase price because consumers can get better rates through new issue CDs.

Conversely, if you purchase a 5 year deposit and rates drop significantly (which they have) then you may find investors willing to offer a premium on your CD in the secondary market.

🛑 While new CDs don’t come with any fees, CDs purchased on the secondary market will be subject to a trading fee similar to buying or selling a stock.

🛑 You must have a taxable brokerage account or an Individual Retirement Account (IRA) with Fidelity to hold your CDs. This is also where your Fidelity CD’s interest payments will be deposited.

🛑 CDs may be callable, meaning the issuer may redeem the CD on a set date prior to maturity. Interest and principal will be paid in full or partially depending on whether the entire CD is called or just a portion of it. You’ll need to check with the issuer for the call schedule to see the exact call date(s).

Fidelity Brokered CDs FAQs

Still have questions about the brokered CDs offered through Fidelity? See what other consumers are asking around the web as well as our responses below.

Are Fidelity CDs FDIC Insured?

Yes. Fidelity only brokers CDs from FDIC-insured banks. Fidelity clients are covered by the FDIC up to $250,000 per depositor.

Is it Safe to Buy a CD on Fidelity?

Yes. Fidelity is one of the top 3 largest brokerages in the U.S. Plus, they only purchase CDs from federally insured institutions that they then resell to their clients.

How are Fidelity’s CD Rates so High?

Like many brokerages, Fidelity is able to offer more competitive CD rates to their clients because they buy CDs in bulk from a number of different institutions. This gives them more leverage to secure higher rates as opposed to one individual going to their own bank or credit union for a CD.

Can You Build a CD Ladder with Fidelity CDs?

Yes. Not only can you build CD ladders with Fidelity, but they also have a modeling tool that can help you construct them. You can build 1 year, 2 year and 5 year CD ladders or build customizable ones. Learn more about CD ladders with Fidelity here.

Does Fidelity Offer a Money Market Account?

Fidelity does not offer a standard FDIC insured money market account. They do, however, have 3 major money market funds (not FDIC insured) that invest in low risk securities. These are the Fidelity Government Money Market Fund (SPAXX), the Prime Fidelity Money Market Fund (SPRXX) and Fidelity Municipal Money Market Fund (FTEXX).

They also have a cash management account that leverages FDIC insurance from multiple banks to provide up to $1.25m in coverage. The APY (annual percentage yield) on this account sits at 2.72% per the time of this writing.

BMO CD Rates – Now up to 5.10% APY!

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Fact Checked :
Updated

BMO Bank, based out of Chicago, Illinois, offers consumers 10 regular term CDs (certificates of deposit) with durations ranging from 3 months to 5 years.

They also have 5 “CD Specials” with oddball terms of 13, 25, 35, 45, and 59 months. These CDs come with higher rates and APYs (annual percentage yields) than their standard term CDs and are quite competitive when compared to the national average for each term.

Although BMO Bank has branch locations in just 9 states (Arizona, California, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota, and Wisconsin) their CDs can be opened online by consumers in all 50 states or within a branch for local residents. The same yields and terms apply whether you’re opening the account in-person at a branch or at your home.

BMO is member FDIC and all deposit accounts are federally insured up to the applicable limits.

📌 Please Note: BMO Bank’s CD rates may vary by region but do not per the time of this writing. All of the locations we surveyed (Los Angeles, CA, Seattle, WA, St. Louis, MO, Miami, FL and NYC, NY) provided the same yields and terms. If you’re opening a BMO CD online, you’ll first need to enter your zip code to see the current rates in your area.

BMO Bank CD Rates + Account Details

image credit: bmo.com

As noted, BMO Bank’s most competitive CD rates come with their Special CD accounts. There are 5 terms to choose from and they require a minimum deposit of $1,000 to open. This is down from a $5,000 minimum earlier in 2023.

CD Rates (CD Specials)

TermAPY
13 months5.10%
25 months4.75%
35 months4.50%
45 months4.50%
59 months4.50%
APY = Annual Percentage Yield

To put these offers in perspective, the current national average for a 12 month CD and a 60 month CD sit at just 1.76% and 1.41%, respectively, according to recent FDIC data.

That said, top yields from online banks are now hovering around 5.50% and 4.50% APY for the same respective terms.

How Do BMO Bank CD Rates Compare?

The table below shows the best CD rate offered at BMO Bank compared to some of the best CD rates offered by other FDIC-insured banks.

BankBest CD Rate (APY)
Merrick Bank5.60%
Needham Bank5.40%
TD Bank5.50%
Valley Bank5.60%
BMO Bank5.10%
CD rates surveyed on September 6, 2023.

How Much Can You Make with a BMO Bank CD?

The amount of money you can earn with a CD from BMO Bank is going to depend on your deposit size, the term you choose and its going APY. It may also depend on your location, but does not per the time of this writing. Take a look at the table below. It shows potential earnings on BMO Bank’s CD Specials assuming a deposit size of $50,000.

CD TermAPYEarnings
13 months5.10%$2,768.28
25 months4.75%$5,075.39
35 months4.50%$6,849.40
45 months4.50%$8,973.39
59 months4.50%$12,080.96
Earnings = Sum of all interest payments through maturity.

Standard CD Rates

All of BMO Bank’s standard CDs are providing negligible yields at this time for all locations. These accounts also require a minimum deposit of $1,000 to open.

TermAPY
3 months0.05%
6 months0.05%
9 months0.05%
12 months0.05%
18 months0.05%
24 months0.05%
30 months0.05%
36 months0.10%
48 months0.15%
60 months0.25%
APY = Annual Percentage Yield

Add-On CDs

From time to time BMO Bank offers Add-On CDs. They discontinued this offer earlier in 2023, but may bring it back again.

With Add-On CDs, additional deposits may be made into your BMO Bank CD during the term of the CD and during the grace period.

These additional deposits may be transferred through another BMO deposit account, mobile banking, telephone banking, a transfer request at a branch, and when you sign into your online banking account. There is a maximum deposit limit of $100,000 (excluding interest).

Grace Period

BMO Bank has a 10 calendar day grace period after maturity for both CD specials and standard term CDs. During this time you may add or withdraw any or all funds without facing a penalty. If you need to withdraw funds prior to your CD’s maturity, you will face early withdrawal fees.

If nothing is done during this 10 day grace period, your CD will renew into a new deposit with the going rate and APY at that time.

Early Withdrawal Penalties

Early withdrawal penalties are fairly straight forward and will not affect your principal, just interest accrued. They are as follows:

CD TermFee
3 months – 364 days90 days’ interest
365 days or more180 days’ interest

How to Open and Fund a BMO CD

Whether you plan to open a BMO CD online or in a branch, you’re going to need a few pieces of personal and financial information ready to verify your identity and fund your deposit.

To complete the application process, you’ll need the following:

  • Legal Name
  • Verifiable Email Address and Phone Number
  • Home Address
  • Date of Birth
  • Social Security Number or Tax ID
  • Driver’s License or State Issued ID
  • Employment Status

Once your identity has been verified and your application has been approved, you’ll be able to fund the CD. If you’re funding the BMO CD from an external bank account, you’ll need the following:

  • Current bank or credit union’s routing number.
  • Current bank account number where funds will be withdrawn from.

Ally Bank CD Rates – Now up to 5.00% APY!

Written by:
Fact Checked :
Updated

Ally Bank is an acclaimed digital bank that offers a suite of competitive FDIC-insured online deposit accounts including CDs (certificate of deposits), savings accounts, interest checking and money market accounts.

In this review we will just focus on Ally Bank’s fixed-rate CDs. They have seven standard term CDs ranging from 3 months to 5 years that can be opened as standard CDs or IRA CDs. They also have two promotional CDs – the “Raise Your Rate CD” and the “No Penalty CD.”

The Raise Your Rate CD is beneficial in an ascending interest rate environment. This product gives you the opportunity to increase your rate once over a 2-year term or twice over a 4-year term if the rate for your term and balance tier goes up while your CD is active.

The No Penalty CD, as the name implies, allows you to withdraw any amount at any time after the first six days of funding the account. You can keep the interest earned with no penalties.

For those that may not remember, Ally Bank is the rebrand of GMAC – the financial arm of General Motors. Following the financial collapse of 2008, GMAC fully rebranded to Ally Bank in 2009. Since then they’ve been recognized for numerous awards for online banking innovation, customer service, and their commitment to giving back to local communities.

To see if Ally Bank’s CD rates are right for you, continue reading our review below.

Ally Bank CD Rates + Account Details

image credit: ally.com

Ally Bank CDs are FDIC insured up to $250,000 per depositor or $500,000 for joint accounts. There is no minimum deposit requirement to open an Ally Bank CD.

CD Rates

TermAPY
3 months2.50%
6 months3.50%
9 months5.00%
12 months4.85%
14 month select5.00%
18 months5.00%
3 years4.25%
5 years4.10%
APY = Annual Percentage Yield

Ally Bank’s CD rates were surveyed on July 24, 2023.

To give the yields above some context, the current national average for 12 month CDs and 5 year CDs sits at just 1.76% and 1.41% APY (annual percentage yield), respectively, according to FDIC data.

The top yields from online banks like Ally and credit unions with nationwide acceptance are now inching over the 5.50% APY and 4.50% APY mark for the same respective terms.

The 14 month Select CD is another promotional deposit that is available October 17, 2023. This will automatically renew into a 12 month CD upon maturity. Read more here.

Ally had a 20 Month Select CD that expired on August 15, 2023. They may offer this term again with a new rate, but haven’t yet as of the time of this writing.

Ally Ten Day Best Rate Guarantee

All of Ally Bank’s CDs come with a “ten day best rate guarantee.” This means that if you fund your account within 10 days of opening it and rates go up during this time, you will get Ally’s best rate for that term and your balance tier during that time. This also applies with CD renewals.

Compounding Interest

Interest is compounded daily which gives your overall APY a boost over bank deposits that compound less frequently like monthly or quarterly.

Tiered rates by deposit amount do exist in more favorable savings rate environments; however, Ally Bank CDs pay the same APY for each term regardless of your deposit amount currently.

Early Withdrawal Penalties

Early withdrawal penalties at Ally Bank vary by CD term. They are as follows:

  • CD terms of 24 months or less will incur an early withdrawal penalty of 60 days’ interest.
  • CD terms of 25 – 36 months will incur an early withdrawal penalty of 90 days’ interest.
  • CD terms of 37 – 48 months will incur an early withdrawal penalty of 120 days’ interest.
  • CD terms of 48 months or longer will incur an early withdrawal penalty of 150 days’ interest.

Grace Period

Ally Bank has a standard grace period of 10 days where you can withdraw, add or transfer funds without incurring a fee. If nothing is done during this period, the CD will renew under the same terms at the current APY.

Ally Bank Loyalty Rewards for CD Account Holders

Ally Bank has a little-known loyalty program for those that continue to open and/or renew certificates of deposit with them. Currently, they are giving a 0.05% APY bump when you renew any CD with them. Be sure to check back 30 days before your CD matures to see what the reward is at that time.

Raise Your Rate CD Rates + Details

The Raise Your Rate CD offered by Ally Bank is going to be best suited for a climbing interest rate environment. Given the fact that CD rates are generally fixed throughout their duration, an opportunity to give your CD rate a bump when interest rates are on the rise, can be a huge benefit. And one that many other banks do not offer.

Raise Your Rate CD Rates

TermAPY
2 year3.75%
4 year3.75%
APY = Annual Percentage Yield

The 2 year Raise Your Rate CD will give you the opportunity to increase your rate once over the life of the deposit.

The 4 year Raise Your Rate CD will give you the opportunity to increase your rate twice over the life of the deposit.

No Penalty CD Rate + Details

The Ally Bank No Penalty CD comes with only one term at the moment. The term is 11 months. You can withdraw any or all of your money from this deposit at any time after six days from funding the account.

No Penalty CD Rate

TermAPY
11 months4.55%
APY = Annual Percentage Yield

As with Ally Bank’s other certificate of deposit products this APY is the same regardless of your deposit amount. In the past Ally Bank has rewarded larger deposits with higher yields; however, rates today are the same across the board for all amounts.

[You can read a review of Ally Bank’s money market account and its current APY here.]

How Much Can You Earn with an Ally Bank CD?

How much you earn with an Ally Bank CD depends on 3 variables. They are:

  1. the term you choose,
  2. its APY (annual percentage yield), and
  3. your deposit size.

Below is a chart showing the total amount of earnings you’d accumulate from interest payments through the life of a few of Ally Bank’s CDs. This assumes a deposit size of $100,000.

CD TermAPYTotal Interest Earned
9 month5.00%$3,727.04
14 month5.00%$5,857.31
18 month5.00%$7,592.98
5 year4.10%$22,251.35
APY = Annual Percentage Yield

How do Ally Bank’s CD Rates Compare?

To get a better idea of how Ally’s CD rates stack up against the competition take a look at the 2 tables below. The first table compares Ally Bank’s best CD rates with other top U.S. banks and the second compares Ally’s CD rates with other FDIC-insured online banks.

Ally vs Big Banks

BankBest CD Rate (APY)
Ally Bank5.00%
Chase5.00%
Bank of America4.75%
Citibank4.90%
Wells Fargo5.26%
CD rates surveyed September 5, 2023.

Ally vs other Online Banks

BankBest CD Rate (APY)
Ally Bank5.00%
Crescent Bank5.45%
CFG Bank5.50%
Bread Savings5.50%
Sallie Mae5.15%
CD rates surveyed September 5, 2023.

Ally Bank CD FAQs

Still have questions about Ally Bank’s certificates of deposit? See what other consumers are asking around the web plus our responses below.

Can You Get 6% APY on a CD With Ally?

No, you can not get 6.00% APY on a CD with Ally Bank at this time. You can, however, get 5.00% APY on several terms with Ally (9, 14 and 18 months).

Are Ally Bank’s CDs FDIC Insured?

Yes, Ally Bank is member FDIC (#57803) and all of their deposit accounts are federally insured up to $250,000 per depositor or $500,000 on joint accounts.

Are Ally’s CD Rates Higher than Capital One’s CD Rates?

CD rates are changing rapidly due to an increasing interest rate environment. Here is a head-to-head comparison of Capital One’s CD rates vs Ally Bank’s CD rates:

AllyCapital One
6 months3.50%3.90%
12 months4.85%4.85%
18 months5.00%5.15%
60 months4.10%4.10%
CD rates surveyed September 5, 2023.

Are Ally Bank’s CD rates going up?

Yes, Ally Bank’s CD rates have been trending up in 2023. That said, Ally has not lifted their CD rates since July of 2023 when a few of their terms hit the 5.00% APY mark for the first time in many years.

What is Ally Bank’s Routing Number?

Ally Bank’s routing number is 124003116.

What is Ally Bank’s Phone Number?

You can call Ally Bank and speak to a representative at (877) 247-2559.

How Do You Withdraw Funds at Maturity?

Once your CD is active you can login to Ally’s online banking portal and submit a transfer request up to 1 year prior to your CD’s maturity (or within your 10 day grace period). Ally will initiate the transfer on the CD’s maturity date if you schedule it ahead of time.

Are Ally Bank CDs Callable?

No, none of Ally Bank’s CDs are callable. Ally will never close out your CD for any reason.

American Heritage CD Rates – Now up to 5.00% APY!

Written by:
Fact Checked :
Updated

American Heritage Credit Union based out of Philadelphia, PA is offering some highly competitive CD (certificate of deposit) rates to their members currently featuring APYs (annual percentage yields) up to 5.00%.

American Heritage Credit Union is a member-owned financial cooperative and all deposit accounts are federally insured by the NCUA up to $250,000 per depositor.

They were founded in 1948 and are in the top 100 credit unions nationwide by assets and membership serving over 250,000 members with more than $4 billion in assets.

They offer 19 standard CDs with terms ranging from 3 months to 5 years. They also have a number of promotional CDs available as well.

If you don’t live near one of their 35 locations across Philadelphia, Bucks, Montgomery, Delaware and Camden Counties, you can still join the credit union by becoming a member of their partner organization Kids-N-Hope. Once you become a member you can open any of American Heritage Credit Union’s CDs online. Learn more below.

American Heritage Credit Union CD Rates + Account Details

image credit: americanheritagecu.org

American Heritage Credit Union CDs require a minimum deposit of $500 to open and can be opened as IRA CDs as well.

CD Rates

TermAPY
3 months3.00%
4 months3.00%
4 month (Special)4.00%
5 months3.00%
6 months4.00%
7 months4.00%
8 months4.50%
9 months4.25%
10 months4.25%
11 months5.00%
12 months5.00%
13 months4.75%
15 months5.00%
18 months4.75%
18 month (Legacy Club)4.85%
20 months4.75%
24 months4.50%
30 months4.25%
36 months4.25%
48 months4.00%
60 months4.00%
APY = Annual Percentage Yield

📍 Please note – The 4 month promotional CD requires new money to the credit union and has a maximum deposit limit of $2,000.

To put these CD rates above into perspective, the current national average for a 12 month CD and a 60 month CD sit at just 1.76% and 1.41% APY, respectively, according to FDIC data.

That said, the best CD rates available in the country are now hovering around 5.50% and 4.50% APY for the same respective terms.

How Do American Heritage Credit Union’s CD Rates Compare?

To get a better idea of how competitive American Heritage Credit Union’s CD rates are take a look at the table below. This compares the best CD rates AHCU has to offer along with the top CD rates offered at other popular NCUA-insured credit unions.

Credit UnionBest CD Rate (APY)
First Tech5.35%
Mountain America5.50%
State Employees5.60%
American Heritage5.00%
CD rates surveyed on September 5, 2023.

How Much Can You Make with a CD from American Heritage Credit Union?

The amount of money you can earn with an American Heritage Credit Union CD is going to depend on the CD term you select, its APY (annual percentage yield) and your deposit amount. Take a look at the table below showing potential earnings of a handful of AHCU CDs based on a deposit amount of $25,000.

CD TermAPYEarnings
12 months5.00%$1,250.00
15 months5.00%$1,572.15
30 months4.25%$2,741.51
60 months4.00%$5,416.32
Earnings = Sum of all interest payments through maturity.

Compounding and Crediting Interest

American Heritage Credit Union CDs feature daily compounding interest. By default the interest gets deposited to your CD for further compounding, however, for CDs with terms longer than 12 months members may choose to have this interest paid to them by check or transferred to another account of theirs. This is great for folks who use the interest as income, but just remember if you do this compounding interest does not apply.

Grace Period and Early Withdrawal Fees

American Heritage Credit Union CDs have a 7 calendar day grace period upon maturity in which you may add or withdraw any/all funds without incurring a penalty fee. If nothing is done during this period the CD will automatically renew.

If you need access to your CD’s funds prior to its maturity you will incur an early withdrawal fee. The fees are based on the term of the CD.

Early withdrawal fees are as follows:

CD TermFee
11 months or less90 days’ interest
12 – 35 months180 days’ interest
36 months or longer360 day’s interest

You can learn more about their CDs by reading their Truth in Savings disclosure.

Membership

The easiest way to join is if you live in the greater Philadelphia area and can go into one of their physical branches.

For those outside of that region just looking to take advantage of their competitive CD rates, you can easily join Kids-N-Hope with a one-time $5.00 donation.

Kids-N-Hope was formed by American Heritage Credit Union back in 1996. Doing this made AHCU the first credit union to create its own charitable organization.

The Kids-N-Hope foundation primarily provides financial support for the Music Therapy Program at the Children’s Hospital of Philadelphia, PA.