High Yield CD Returns to Ally Bank (1.89% APY)

Submitted by theStockMasters... on Tue, 12/08/2009 - 21:12

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High Yield CD News

Its been a while since we've seen a CD that's worth your attention. But the good folks at Ally Bank that are backed by the U.S. Government and what's left of GMAC are the Wal-Mart of high yield CDs. If you can't beat em, join em.
Currently the government owns nearly 35% of GMAC under the terms of a $12.5 billion bailout of the Detroit-based company.

Here's the details of the Ally Bank Offer - Click to go to Ally's site

Term	Rate	APY	Earnings
3 months	1.04%	1.05%	$130.17
6 months	1.44%	1.45%	$361.29
9 months	1.39%	1.40%	$523.97
12 months	1.87%	1.89%	$943.77
18 months	1.87%	1.89%	$1,422.32
2 years	2.17%	2.19%	$2,217.71
3 years	2.52%	2.55%	$3,926.41
4 years	2.71%	2.75%	$5,724.45
5 years	3.05%	3.10%	$8,236.75

Rate and APY as of 12/8/2009.

Fun reading on Ally Bank - Rivals Mad At Ally Bank, Government by NPR (click to read) >>.

The Stockmasters care the most about the 3 month and 4 month CD offers, and consider some of the 6 month, 9 month, and 1 Year options if the rates are good.

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