Ally Bank 2.5% 9 Month No Early Widhrawal Penalty CD

I blogged yesterday on how GMAC changed its name to Ally Bank. It appears that along with the change they’re offering a new 2.5% APY 9 Month no penalty CD. The way the certificate of deposit works is you can withdraw the money any time you’d like without any early withdrawal fee, but you must withdraw the entire amount.

This is a pretty nice feature and eliminates the cons of having your money locked in with a CD. All the old GMAC rates appear to have stayed the same and I don’t see any other real changes with them. Ally Bank is FDIC insured and I highly recommend staying under the $250,000 limit.