Has anyone used an Ally bank "no penalty" CD? They are 11 month terms but with no penalty if you withdraw the money early. The current rate is 1.5% vs 1.15% for their online savings account. The main benefit I see in the savings account is you can make multiple transactions whenever you want. But if you don't need the money for a year or two (for example we are saving for a home down payment in 1-3 yrs, separate from our established emergency fund), the CD seems reasonable.
Obviously it's not going to be a huge amount of money difference either way over a short term, but just curious if anyone has used them and thoughts/comments either way?
Obviously it's not going to be a huge amount of money difference either way over a short term, but just curious if anyone has used them and thoughts/comments either way?
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