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10 Reasons Ally Bank’s Raise Your Rate CDs Are Cool!
Posted By Ron On July 14, 2011 @ 1:00 AM In Banking | Comments Disabled
Having worked for a bank for several years after college, I’ve had a lot of experience with CDs but I never thought any bank would be willing to allow customers to raise the rate! After all, a CD’s rate is usually set in stone but not with Ally Bank .
With Ally’s Raise Your Rate CD , you can increase your interest rate once (for a 2 year CD) or twice (for a 4 year CD) if rates go up any time during your CD’s term. You can actually open your CD with Ally without funding it, but if you fund your CD within ten days of opening (including your open date) or when your Ally CD renews, you automatically get the best rate they offer during those ten days with the Ally Ten Day Best Rate Guarantee.
Ally grows your money faster by compounding interest daily. Many others compound monthly, quarterly, or even annually. What’s the big deal? The more often your investments are compounded, the more money you’ll make.
You can go ahead and get your CD account opened even if you don’t have the money to fund it yet. Then you can fund it when you wish.
Back when I was selling CD investments, a small monthly fee was commonplace. Ally doesn’t charge a fee.
When you invest  for a period of 24 months, you can arbitrarily raise your CD’s interest rate once over the term/
Investing for 48 months allows you to raise your rate twice!
Ally allows you to personalize alerts when it may be a favorable time to raise your rate.
If you fund your CD within 10 days of opening (or renewing your CD), you automatically get the best rate Ally offers during those 10 days starting with your open or maturity date.
Ally Bank  CDs are fully insured up to the maximum amount.
When your CD renews, you can set it up to automatically renew. That way you won’t have money sitting around not making anything.
Ally consistently has among the highest rates for their CDs anyway. Add to it the option of increasing your rate and you can personally make certain you have the highest rate going.
If you’ve considered moving money into a CD, take time to consider Ally’s Raise Your Rate CD !
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