Author Topic: How I'm getting almost triple the 1 year CD % rate for 1 year! (Read 53606 times)

bubkiz · « **Reply #20 on:** January 29, 2012, 11:38:24 PM »

Quote from: Dan on January 26, 2012, 12:56:25 AM

Better deal, Ally only has a 60 day interest penalty.
The 5 year CD there earns 1.79% APY, but if you first open a 3 month CD and wait for it to mature and renew the CD (you can change it from 3 month to any other length in the process) you get a .25% loyalty bonus, bringing the APY to 2.04%

Do they do a hard pull?

Dan · « **Reply #21 on:** January 29, 2012, 11:44:17 PM »

Quote from: bubkiz on January 29, 2012, 11:38:24 PM

Do they do a hard pull?

Not IME on a CD.

bubkiz · « **Reply #22 on:** January 29, 2012, 11:47:15 PM »

Quote from: Dan on January 29, 2012, 11:44:17 PM

Not IME on a CD.

Thanx! Just signed, finally will be able to take the money out from under the mattress

AsherO · « **Reply #23 on:** January 30, 2012, 09:15:18 AM »

Quote from: Dan on January 29, 2012, 11:44:17 PM

Not IME

+1

Compared to other banks, Ally is a breeze to deal with (IME), I'm confident that if you ask their CSRs they will confirm that they don't pull credit for savings/CD accounts.

Dan · « **Reply #24 on:** February 08, 2012, 02:53:56 PM »

My Ally CD just rolled over from 3 months to 5 years.
I was able to ACH funds in during the 10 day window.
My new APY is 2.05% after the loyalty bonus.

Brookleneze · « **Reply #25 on:** February 09, 2012, 12:44:19 AM »

Quote from: bubkiz on January 29, 2012, 11:47:15 PM

Thanx! Just signed, finally will be able to take the money out from under the mattress

For real?
What about this?

Smartypantz · « **Reply #26 on:** February 09, 2012, 11:16:37 AM »

Just FYI at Trustco Bank, they give .85% for savings account, no minimum, no monthly fee, can take out whenever u want! one of the safest ways to earn gauranteed interest with no penalties/risk of loss/etc.

AsherO · « **Reply #27 on:** February 09, 2012, 11:20:22 AM »

Quote from: Smartypantz on February 09, 2012, 11:16:37 AM

Just FYI at Trustco Bank, they give .85% for savings account, no minimum, no monthly fee, can take out whenever u want! one of the safest ways to earn gauranteed interest with no penalties/risk of loss/etc.

Ally's No Penalty CD pays .91%, which is better.

There's a downside vs. TrustCo, where at TrustCo you could keep depositing.

Smartypantz · « **Reply #28 on:** February 09, 2012, 11:26:45 AM »

Quote from: AsherO on February 09, 2012, 11:20:22 AM

Ally's No Penalty CD pays .91%, which is better.

There's a downside vs. TrustCo, where at TrustCo you could keep depositing.

and the interst is compounded daily at ally! that is excellent !

AsherO · « **Reply #29 on:** February 09, 2012, 11:35:08 AM »

Quote from: Smartypantz on February 09, 2012, 11:26:45 AM

and the interst is compounded daily at ally! that is excellent !

But if I withdraw early, do they post all the interest accrued until that date, or do they post the (daily compounded) interest at set intervals (e.g. weekly/monthly/quarterly)?

Also, since it's APY then if you keep your money in for the perm of the CD (11 months) then it doesn't really matter how it's compounded.

Dan · « **Reply #30 on:** February 09, 2012, 12:22:01 PM »

Why not just do a 5 year at Ally and take the small 2 month penalty when you need the cash?

MLM · « **Reply #31 on:** February 09, 2012, 01:44:41 PM »

Did anyone try getting the.25 bonus upfront?

Dan · « **Reply #32 on:** February 09, 2012, 02:02:54 PM »

Quote from: MLM on February 09, 2012, 01:44:41 PM

Did anyone try getting the.25 bonus upfront?

Of course but they won't do it.

Jay the PRESIDENT · « **Reply #33 on:** March 19, 2012, 03:57:33 PM »

what exactly is the .25 bonus

Shmulyg · « **Reply #34 on:** November 04, 2012, 02:12:19 AM »

Does anyone know if the .25 renewal bonus still exists?

Also, now that their 5-year CD rate fell to 1.64%, is this still the best offer even with the .25 renewal bonus?

meshugener · « **Reply #35 on:** November 04, 2012, 02:30:17 AM »

+1
Looking for the best parking lot for around 60k.
My local bank offers 2% APY for an annuity fund, locked for 5 years, but I can withdraw 10% of the principal each year with no penalties.
Good?

Dan · « **Reply #36 on:** November 04, 2012, 08:17:18 AM »

Ally .25 is alive and well and their CD termination is still just 60 days interest.

Shmulyg · « **Reply #37 on:** November 04, 2012, 09:17:21 AM »

Quote from: Dan on November 04, 2012, 08:17:18 AM

Ally .25 is alive and well and their CD termination is still just 60 days interest.

Just to be sure: It's the "High Yield CD" i'm applying for? (they have many different types...)

Yeki89 · « **Reply #38 on:** November 04, 2012, 09:29:41 AM »

Is it only on a #3 month, or any product you pick (say 6 month) , the next time u can get the bonus.

Shmulyg · « **Reply #39 on:** November 04, 2012, 09:38:56 AM »

Quote from: Yeki89 on November 04, 2012, 09:29:41 AM

Is it only on a #3 month, or any product you pick (say 6 month) , the next time u can get the bonus.

Why would you want to wait more than 3 months for the higher yield?

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Author Topic: How I'm getting almost triple the 1 year CD % rate for 1 year! (Read 53606 times)