Two major online banks, Ally and ING Direct, have pushed up the rates today on their fixed rate, 12-month CDs, putting them near the top of the list for high yielding CDs.
ING Direct posted a significant increase of +0.25%, while Ally pushed its rate up a modest +0.05%.
|Ally||12 mo. CD||2.00%||2.05%||+0.05%|
|ING Direct||12 mo. CD||1.85%||2.10%||+0.25%|
Ally Bank also offers a 9-month fixed rate, no penalty CD which allows you the option of no fee early withdrawal, with a rate of 1.85%.
Branchless banks such as Ally and ING Direct are generally able to offer higher rates on their CDs, due to the lack of overhead that is experienced by more traditional brick and mortar institutions.