Ally Bank

IRA Raise Your Rate Certificate of Deposit (CD)

Make your money work harder. Give it a raise.

Available Terms

Annual Percentage Yield

No minimum deposit to open

It's your future. Save big for it.

Stash your cash for retirement with the best online bank.

If our rate goes up, you can raise yours.

There’s no minimum deposit required to open your account, and you’ll always start with a great rate. Plus, you’ll have the opportunity to raise it once for the 2-Year term or twice for the 4-Year term, if our rate goes up for your term and opening balance amount. Interest is compounded daily.

Get our best rate—guaranteed.

Fund within 90 days and get the best rate we offer for your term and balance, on either the day you open or the day you fund. Plus, enjoy the Ally Ten Day Best Rate Guarantee when you renew.

Manage your IRA online.

Keep your retirement savings right where you can see it. Log in anytime to manage your account. Plus, we don’t charge any monthly maintenance fees.

Why choose this type of retirement account?

If you don’t want your retirement funds riding the waves of the market, an Ally Bank IRA is a great option. You’ll still get the tax benefits of an IRA and it’s FDIC insured

Features offered with every Ally Bank IRA CD.

Digital banking tools.

It’s easy to bank anytime, anywhere with the Ally Mobile app.

Your money, FDIC-insured.

Deposits are insured by the FDIC up to the maximum allowed by law.

Learn more

No monthly maintenance fees.

Don’t expect any sneaky monthly maintenance fees with us.

You have options.

Available for Roth, SEP and Traditional IRAs.

Find the IRA for you

Boost your CD strategy with a ladder.

Mix CDs of varying term lengths and rates for long-term returns and more frequent access to your money.

Take A Closer Look

Get more for your money.

Compare the cost of banking somewhere else.

Opening Deposit

What you should know.

Our Annual Percentage Yields (APYs) are accurate as of XX/XX/XX . The APYs for other banks are provided by mybanktracker.com and are accurate as of XX/XX/XX . The APYs in this table are for the state of California.

The APY we pay is based on your opening deposit amount. Advertised APYs are subject to change.

No hidden fees, no surprises.

You shouldn't be nickel and dimed for using your own money.

We don’t charge any maintenance fees for your Ally Bank CD.

When your CD matures, you can withdraw your money at no charge during a 10-day grace period.

Early withdrawals

Withdrawals before the maturity date are subject to penalties. Partial withdrawals aren’t allowed. Are there exceptions?

Additionally, your withdrawal may be subject to an additional Internal Revenue Service (IRS) tax. Check with a tax professional before making withdrawals from your IRA plan.

Early withdrawal penalties will depend on your CD term.

2-year term

60 days of interest
4-year term

120 days of interest

Get to know every aspect of this account before you sign up.

Check out our Straight Talk Product Guide (PDF).

Bank better, starting now.

Get your account up and running in minutes.

Tell us about yourself.

We’ll need some personal info, like your address and Social Security number.

Add money to your account.

The faster you fund, the sooner you’ll earn interest. No minimum deposit required.

Enjoy our award-winning experience.

Start exploring (and enjoying) everything we have to offer.

Open New Account

FAQs

We have answers.

You'll receive the highest rate and annual percentage yield (APY) offered for the balance tier and term of your IRA CD on either the day you open it or the day you fund it.

Our IRA Raise Your Rate CD also gives you the option to raise your rate once over the 2-year term and twice over the 4-year term if our rate goes up for your term and balance tier.

Keep in mind, for IRA CDs, our Ten Day Best Rate Guarantee only applies at renewal, starting on your maturity date. This guarantee doesn't apply to interest rate increases for the IRA Raise Your Rate CD
No. Once you open and fund your CD, you can't add funds again until your CD matures, but you can schedule a transfer up to one year before the maturity date. When your CD matures, you'll have a 10-day grace period -- starting on your maturity date — to transfer funds or make other changes.

To add funds to your CD online: Log in and choose Manage CDs.

To add funds to your CD from the Ally Mobile App: Log in, choose after the Current Balance, select Manage CDs and then choose Make Changes.

If you schedule a transfer prior to maturity, we'll usually initiate that transfer on your maturity date. You can transfer money from another Ally Bank account, Ally Invest account or a verified account you have at another institution.
You don't have to do anything to get the loyalty reward.

It's automatically added when your CD, including IRA CDs, renew. Want to change terms? No problem. Your loyalty reward will be added to any term you choose for your CD, including IRA CD, at renewal. Check back 30 days before your CD matures to see what the reward is at that time.

To change terms or add funds online: Log in, choose Manage CDs. From there, you can make changes or add funds to your balance.

To change terms or add funds from the Ally Mobile App: Log in, choose after the Current Balance, select Manage CDs and then choose Make Changes.
We offer IRA CD options to meet your needs.

IRA High Yield CD – terms range from 3 to 60 months.

IRA Raise Your Rate CD – 2- and 4-year terms available. You have the option to raise your rate once over the 2-year term and twice over 4-year term if our rate goes up for your term and balance tier.

Still have questions? Visit our Help Center .