IRA CDs, Ally bank?

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blackwhisker
Posts: 46
Joined: Thu Jul 05, 2018 9:32 pm

IRA CDs, Ally bank?

Post by blackwhisker » Fri Sep 14, 2018 12:12 pm

I plan to buy CDs in an IRA account. (non brokered cds). is ally bank a good option? are they easy to work with? is is easy to move money from vanguard or fidelity IRA to an Ally IRA account? more importantly, is it easy to move money from an Ally IRA back to fidelity/vanguard? does Ally make it difficult?

I could just buy brokered cds from fidelity/vanguard and save the trouble. but ideally i prefer non-brokered cds.

thanks

Silk McCue
Posts: 1114
Joined: Thu Feb 25, 2016 7:11 pm

Re: IRA CDs, Ally bank?

Post by Silk McCue » Fri Sep 14, 2018 12:26 pm

I expect that you can reasonably move funds between any reputable financial institutions. The most important question for me is what are they paying for the term you are interested and what are the Early Withdrawal Penalties if you choose to pull out early. A little extra effort on the front or back pale in comparison to the return.

I recently opened a CD with Achieva Credit Union and transacted everything online and on the phone. 4.2% 5 Year CD for $75k and up. Highest in the nation at that time. The offer is still available and has been for 5 months.

https://www.achievacu.com/Home/Rates

Cheers

blackwhisker
Posts: 46
Joined: Thu Jul 05, 2018 9:32 pm

Re: IRA CDs, Ally bank?

Post by blackwhisker » Fri Sep 14, 2018 1:54 pm

thank you silkMcCue. the rates from achieva look good.

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