Ally Bank lists three CDs: High Yield, Raise Your Rate and No Penalty. None has a minimum deposit. Ally’s pages list APYs accurate as of October 23, 2026: a 2.9% headline rate on the High Yield CD, 2.90% on the No Penalty CD and 3.00% on the Raise Your Rate CD. The High Yield CD’s comparison table listed Ally APYs from 2.90% to 4.50% depending on the term and deposit selected. Ally’s page text does not say which term earns which rate, so this page does not list a term-by-term table. Choose your term on ally.com for the exact APY.
Rates change, and Ally says the APY is fixed for the term of the CD but subject to change upon renewal. The Federal Reserve raised its target range to 3-3/4 to 4 percent on September 16, 2026, so check Ally’s current rate before you open a CD.
The three Ally CDs
| CD | Rate shown (as of Oct. 23, 2026) | Minimum | Early withdrawal |
|---|---|---|---|
| High Yield CD | 2.9% headline; comparison table 2.90% to 4.50% by term and deposit | None | 30 to 150 days of interest, by term |
| Raise Your Rate CD | 3.00% | None | 60 days of interest (2-year), 120 days (4-year) |
| No Penalty CD | 2.90% | None | None after the first six days |
Ally’s Raise Your Rate CD lets you raise your rate once over the 2-year term or twice over the 4-year term if Ally’s rate for your term and balance tier goes up.
How much can you earn?
Interest depends on the term and APY you get. As an illustration of the arithmetic, $10,000 held for one year at 2.90% APY earns about $290, and at 4.50% APY about $450. Those are bounds from the range Ally’s page displayed, not a quote for a particular term.
Ally’s No Penalty CD
Ally’s No Penalty CD is an 11-month CD. You can withdraw all your money any time after the first six days following the date you funded the account, and keep the interest earned, with no penalty. The APY is fixed for the term but subject to change upon renewal.
When the no-penalty CD makes sense:
- You are not certain you will need the funds before 11 months but want the option
- You are waiting for a large purchase such as a down payment or tuition
- You are waiting to see whether rates improve before locking into a longer term
Early withdrawal penalties
Ally says withdrawals before the maturity date are subject to penalties and partial withdrawals are not allowed. For its High Yield CDs, the penalty is a number of days’ loss of interest:
| CD term | Early withdrawal penalty |
|---|---|
| Less than 3 months | 30 days of interest |
| 3 to 24 months | 60 days of interest |
| 25 to 36 months | 90 days of interest |
| 37 to 48 months | 120 days of interest |
| 49 months or longer | 150 days of interest |
The 11-month No Penalty CD has no penalty after the first six days.
Ally vs. Marcus
| Ally | Marcus by Goldman Sachs | |
|---|---|---|
| 12-month APY | Varies by term and deposit; see ally.com | 4.40% (October 15, 2026) |
| Minimum deposit | None | $500 |
| No-penalty CD | Yes (11 months) | Yes (see Marcus’s No-Penalty CD page) |
| FDIC insured | Yes | Yes |
Note on Discover: Discover Bank’s consumer banking business, including its CD products, was acquired by and merged into Capital One in 2025. Discover is no longer a standalone CD option.
Ally CD renewal
Ally CDs renew automatically at maturity. When your CD matures, you can withdraw your money at no charge during a 10-day grace period. Ally says the APY on a renewing CD is subject to change, so set a reminder before maturity to review your options. Ally says it is currently giving a 0.05% Loyalty Reward when you renew a CD to any CD with it, and to check back 30 days before maturity to see the reward at that time.
Who might consider an Ally Bank CD
- New savers, because there is no minimum deposit
- Savers who want flexibility, because of the No Penalty CD
- CD ladder builders, because of the range of terms with no minimums
Ally is online-only, so it is less suited to savers who want to deposit in person.
Related Articles
- Best CD Rates of 2026
- 1-Year CD Rates 2026
- No-Penalty CD Rates 2026
- Ally Bank vs. Marcus — Which Is Better?
- CD Laddering Strategy 2026
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