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Jeff M's Profile Image
on Mar 20th 2011

CDs at Ally bank have interest compounded how often?

noell w left an interesting review of Ally bank cds...she couldn't get a straight answer from them!
I understand that "the interest income is added to your account. The more frequently this occurs, the sooner your accumulated interest income will generate additional interest." Is Ally trying to pull a fast one? Anyone offer any clarity on this issue? I am sitting on 50k from an insurance policy & was going to open a cd at Ally. (I lost 50k in the tech bubble & so I'm gun-shy of the stock market. And my home home value is losing 35k per month. Oh, and I may lose my job. But other than that, things are looking up!)

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