GMAC CD Rates Update
It’s been a couple of months since we updated you on GMAC Bank CD rates, so we here at Best CD Rates Info thought it was time to do it again. GMAC CD rates are almost always at the top of the list of the best CD rates nationally. Of course, GMAC has undergone a name change to Ally Bank with the onset of General Motor’s bankruptcy.
Two kinds of GMAC Bank certificate of deposit rates products are available: Classic CD and No Penalty CD accounts. The main difference between the two is that a slightly lower annual percentage yield (APY) on the No Penalty GMAC CD rates is balanced by the ability to close the account at any time without penalty.
Our rate listings here will be for standard (Classic) GMAC Bank CD rates, but most No Penalty accounts are about 0.10% APY lower than the Classic rates, for reference. All GMAC Bank CD rates are on deposits of $1 or more (online).
GMAC Bank certificate of depsoit rates range in terms from 3 months to 5 years. The special offer for best CD rates right now is on a one year term, yielding a 2.49% APY. There are some other great GMAC CD rates to consider as well.
Short-Term GMAC CD Rates
- 3 months: 1.60% APY
- 6 months: 2.00% APY
- 9 months: 1.90% APY
Mid-Term GMAC Bank CD Rates
- 18 months: 2.40% APY
- 24 months: 2.55% APY
Long-Term GMAC CD Rates
- 3 years: 3.00% APY
- 4 years: 3.00% APY
- 5 years: 3.50% APY
Interest on all accounts with GMAC Bank certificate of deposit rates are compounded daily. If any of these appeal to you, then lock in your best CD rates now before they change. All GMAC Bank accounts are FDIC insured.
[...] Info thanks to their consistently high certificate of deposit returns. The last time we looked at Ally CD rates, they were still called GMAC Bank/Ally Bank on their site. The name change is complete, though, [...]