Continuing our look at certificate of deposit rates so you can see where your savings can grow fast, we here at Peak Personal Finance are looking at Ally Bank, usually the nation’s leader in yields.

CD rates at Midvale, Utah-based Ally Bank reflect the national economic outlook though the bank has introduced relatively higher rates in recent years. Ally certificate of deposit rates are unique in the sense that the company does not ask for any minimum balance. Customers can deposit as high as $100,000 or as low as $100 but will benefit from a higher interest rate on their investments.

Ally Bank CD rates have become more fixed in recent years and the company has started giving these certificates with an APY of 1.84% for a 12-month term. The bank offers a 3-month CD at 1.00% APY. A 6-month CD would yield 1.40% and 9-months at 1.20%.

Ally CD rates rise higher with longer terms of investments. A 2-year certificate would yield 2.19% APY whereas a 3-year certificate returns 2.50%. All of these CDs are offered under the high yield investment option of the company with higher rates than market average.

CD interest rates for 4-year and 5-year certificates are 2.75% and 3.10%, respectively. Apart from high yield CD, the bank also offers no penalty CD with a relatively higher APY for a 9-month term at 1.24%.

The online saving account returns 1.50% variable APY for a multitude of investments and term limits. They also offer CDs for the money market accounts with a variable APY of 1.50%. The bank does not charge any monthly fees on any of these accounts and CDs.