Ally Bank offers an unadvertised bonus of 0.25% APY for customers who renew their Certificate of Deposits, or
As of writing this, many have reported that when their CD with Ally is close to the end of its term, Ally offers them
a 0.25% APY bonus rate on top of the current rate for the CD.
A quick chat with Ally’s customer support verified that all CD terms – even the 3 month CD qualifies for the
Those loyal Ally Bank customers who have been offered this additional rate find this unpublicized bonus rate as a
great incentive to renew existing certificates and to stay with Ally for another term. Plus, getting the additional 0.25%
APY bonus rate is extremely easy and customer-friendly.
Getting hold of this offer is as simple as this: Upon maturity of a customer’s existing certificate, Ally will
give the customer the option to renew the certificate at the current rate plus the 0.25% APY bonus rate. Deciding to
renew the certificate will automatically entitle the customer to the offered bonus.
Here is a clear example to better illustrate Ally Bank’s offer: if you had a 1 year CD with Ally (which
currently pays 1.29% APY), Ally may give you the option to renew that CD upon its maturity at a rate of 1.29% APY + 0.25%
APY for a total of 1.54% APY.
Now, how about if you would like to change either the term or the monetary amount attached to your Certificate of Deposit, can you still get the loyalty bonus? Yes, just
make sure you make those changes within ten days from your CD’s
maturity. Effecting any change within ten days ensures that you still get the 0.25% APY bonus rate on top of the current
Just remember one small but important point. The 0.25% APY loyalty bonus is only added after Ally Bank’s ten-day
rate guarantee finishes. However, the interest is backdated to the Certificate of Deposit’s maturity date.
Imagine earning a 1.29% APY in your first year and, upon the hassle-free renewal of your CD, earning 1.54% APY in your
This means you could be earning nearly the same rate as Ally's 2 year CD (1.57% APY) by renewing a 1 year CD!
You can learn more about Ally Bank by visiting their site: Ally.com