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Ally No Penalty CD

1,010 Views | 3 Replies | Last: 6 yr ago by fourth deck
ktownag08
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AG
Anyone ever use the Ally No Penalty CD? It's at 1.5% right now. Seems like a good option for an Emergency Fund. Worst case if you pull the money out of the CD you can just put it into their savings product. Seems like there has to be a catch somewhere? USAA savings rates are awful.

Side Note: If you have Navy Federal Credit Union, they're offering a 5 month CD up to 10k at 3%. Pretty darn good in today's market.
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Martin Q. Blank
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What happens to the interest?
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fourth deck
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AG
1.5% is very good for a standing CD rate if it doesn't have some gaudy minimum requirement. In my short time with Navy Federal it looks like they run good specials sporadically. Last year I parked a good chunk of cash at 2.5% for 30 months. I think they got more influx than anticipated because the offer was closed suddenly.
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