bank rates

Go Short With Ally Bank’s 5-Year CD

Here’s another long-term CD with such a small early withdrawal penalty that it’s a better bet than the top-paying short-term CDs.

Here's another example of a long-term CD that has such a small early withdrawal penalty it's a better bet than the top-paying short-term CDs.

It’s Ally Bank’s 5-year certificate of deposit.

The online bank of GMAC Financial combines an above-average interest rate with the most lenient early withdrawal penalty we know of — just two months worth of interest.

That allows savers to cash out after just a year or two, pay the penalty, and still out-earn the best 12- or 24-month CDs.

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  1. Stuart said:
    on March 19th at 07:50 pm

    Hey…thanks for the tip….every little bit helps