Ally Bank 1.25% 11 month CD with no EWP

[felizcortez]

I have checking and savings accounts with Ally Bank and they appear to be running a promotion for a 1.25% 11 Month CD with no Early Withdrawal Penalty.  Looks like an easy way to earn a few more bucks on my emergency fund that I have over there for not doing a ton of work and basically no risk.  Was wondering if anyone else has signed up for this?

[meghan88]

Are you in Canada or the U.S.?

There are a number of HISAs in Canada that are paying up to 2% interest and you're not locked in.  I believe there are some in the U.S. as well.

For Canada, see:  https://www.highinterestsavings.ca/chart/

[edit ... 2% not 3%, since EQ lowered their teaser rate.]

[felizcortez]

Based in the US.  Do you have a link to the US based ones?

[Rubic]

See my post here discussing Lake Michigan Credit Union for a 3% rate up to $15,000:

http://forum.mrmoneymustache.com/investor-alley/how-should-i-choose-between-cds-and-money-market-certificates/msg1346758/#msg1346758

[kobo1d]

Great suggestion. We was already using Ally's Online Savings for our EF, might as well earn a few extra dollars per month.

[t5inside]

Thanks for the suggestion, just moved my EF into one.