bank rates

Ally Bank 2.80% APY 12-Month CD

12 month CD rates

Yields on 12-month certificates of deposits are still going down, but not as quickly as they were last winter.

The average interest rate for these CDs has fallen to just 1.20%, a full point lower than they were this time last summer.

But that average was declining by more than a tenth-of-a-point a month in January and February, and less than a tenth-of-a-point a month since then.

The best nationally-available 12-month CDs are paying almost exactly what they were five weeks ago.

Ally Bank, formerly GMAC Bank, is paying 2.80% APY with no minimum deposit.

Corus Bank in Chicago is paying 2.63% APY with a $10,000 minimum deposit is available from

Click here to compare those returns with what dozens of other banks are paying on their best 12-month CDs.

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Comments (5)
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5 Existing Comments
  1. BloggingBanks.com said:
    on June 4th at 09:19 am

    Wow, everyone is now touting Ally bank’s one year CD as the best CD rate nationwide. I wonder if all this publicity won’t backfire on ordinary savers at the bank.

  2. Sam said:
    on June 5th at 08:04 am

    Be careful with Ally bank – by the time your money will reach the CD account at Ally the rate will be slashed.

  3. BloggingBanks.com said:
    on June 5th at 08:36 am

    Well, if you already have opened CD’s there, it would take quicker for the money to arrive. And Ally bank does not cut its rates overnight – typically its fridays where rates are cut there..

  4. Irene Farkas-Conn said:
    on June 5th at 03:35 pm

    My firewall does not allow Ally Bank site to go through while I had no problem with the other banks.

  5. katherine said:
    on March 1st at 06:31 pm

    I am interested in opening a CD and will call to find out the rates Thank for showing a good rate for 12months