Comments on: Ally Bank Ten Day CD Rate Guarantee

By: R. Long

R. Long — Fri, 06 Nov 2009 00:51:24 +0000

I have had to do some business with ALLY (aley) bank. Ihey are rude and grubby little people, be ware

By: Nickel

Nickel — Fri, 23 Oct 2009 14:07:15 +0000

Kyle: We just started it last year. Ally (GMAC at the time) had the best rates across the board, so that’s what we did. Going forward, if rates are signficantly different, I would consider spreading the money across banks. Right now, however, Ally is within 0.10% of the highest available APY, so we’ll just keep the money there.

By: Nickel

Nickel — Fri, 23 Oct 2009 13:36:21 +0000

Don: This is just where we’re holding our longer term cash.

Chris: The best promo rates right now top out around 2.5%. Over the past year, our ladder has averaged 4.66%. While this will dip a bit when we renew the next rung (to 4.46%) we’re still massively outperforming the rate-chasing strategy.

By: Chris

Chris — Fri, 23 Oct 2009 13:28:55 +0000

Couldn’t you beat the ROI of a CD ladder by opening a few online high yield savings and moving money when appropriate?

By: Don

Don — Fri, 23 Oct 2009 13:13:31 +0000

Say, what is the goal of your CD Ladder, or is it just for investment purposes in general?

There is some really nice information on your site, it looks like you have wrote some really informational piece here… I’ll have go through your archive!!!

-D

By: Kyle

Kyle — Fri, 23 Oct 2009 12:54:44 +0000

Do you keep your ladder at one institution or is it spread across the best rates? We are still working to build enough cash reserves that we can start a ladder.

By: John DeFlumeri Jr

John DeFlumeri Jr — Fri, 23 Oct 2009 00:04:20 +0000

That CD ladder idea was a good one! Rates have got to start moving up soon.

John DeFlumeri Jr