Act Fast Ally Bank customers.

No the Bank is not going to fail. But what they are offering is some good rates if you are an existing customer. Here is the details.


I have a CD account with Ally Bank formerly know as GMAC Bank. My CD matured this month but I wasn't going to renew it because I could get a better rate with a local Credit Union. When I call to close the the account the representative offered me what Ally Bank calls a Loyalty Bonus. The Loyalty Bonus is a .50% bump on the rate at the time of maturity. What does this mean? Well if your 12 month CD matured today you would get an interest rate of 1.74% APY. With the Loyalty Bonus of .50% that would bring your CD to an interest rate of 2.24% APY.

So whats the catch? I asked if I could get this Loyalty Bonus for my other CD's. The representative said that this offer would only be available until the end of January, and that customers would have to ASK for it. I think this goes against the Ally Bank Talk Straight policy. After all just look at one of there commercials. Be sure to ask for your pony.