MIDVALE, Utah, Oct. 1, 2012 /PRNewswire/ -- Ally Bank has launched a tool that allows consumers to learn more about the benefits of laddering certificate of deposit (CD) investments via Ally.com. Ally Bank's new CD Ladder tool—which includes a Step-by-Step Guide and Quick Calculator—highlights the benefits of regular access to money through short-term CDs, as well as greater earning potential through long-term CDs, by staggering CD terms and maturity dates.
The tool can be accessed at: http://www.ally.com/bank/cd-ladder/.
Using the CD Ladder tool, consumers can estimate potential earnings. A printed report of their three- to five-year sample ladder, highlighting estimated end balances and suggested next steps to open their CDs, is available upon completion.
"Continuing to make banking more convenient and straightforward for our customers is at the core of all we do," said Diane Morais, deposits and line of business integration executive for Ally Bank. "This latest tool will illustrate for consumers how they can achieve the optimal balance between earning interest and retaining access to their money to best suit their needs."
To meet consumer needs, Ally Bank offers a variety of flexible CD products—including two- and four-year Raise Your Rate CDs, High Yield CDs and the No-Penalty CD—each of which require no minimum balance, feature no monthly fees and offer the Ally Ten Day Best Rate Guarantee.
About Ally Bank
Ally Bank is a direct bank in the U.S. that offers a straightforward approach to banking with no minimum deposits, no monthly fees and 24/7 live customer service. A subsidiary of Ally Financial Inc., the bank offers online savings, interest checking, money market accounts, certificates of deposit with terms ranging from three months to five years and IRA Plans and products. Follow us on Twitter @allybank or at facebook.com/allybank. Member FDIC. For more information, visit the Ally media site at http://media.ally.com or on Twitter, @ally.
SOURCE Ally Financial