All Ally high yield CDs do not have a required amount to open the account. You can open each of the CDs with any amount. The Raise Your Rate CDs and the No Penalty CD do not have a set amount required to open.

Ally CDs offer competitive interest rates. The rates are competitive with other online CD accounts. The interest rates for Ally CDs are much higher than typical bank rates.

There are a wide variety of CDs offered through Ally. They offer seven high yield CDs. Those terms range from three months to five years. Ally offers a Raise Your Rate CD. These CDs are available in two-year and four-year terms. They also offer a No Penalty CD. This CD is an eleven-month term.

Ally offers a Ten-Day Best Rate Guarantee for each of the different CDs. When you open your CD, you have ten days. If interest rates go up within that time, so does your interest rate for the CD. The best rate guarantee is also available when you are renewing your CD.

The No Penalty CD has high opening amounts to earn the most competitive rates. Balances under $5,000 earn the lowest rates. To earn the most competitive rate for the CD requires a minimum opening balance of $25,000. Balances over $5,000 but less than $25,000 receive an interest rate between the two rates.

Interest earned from Ally CDs is generally credited annually. If your CD is a one-year term or less, they credit your interest at the CD maturity. If your CD term is longer than one year, they credit your interest at your CD terms year-end. You can make some changes to your CDs through the Ally website.

Some Ally CD accounts have tiered interest rates. To earn the most competitive interest rate for your account requires a balance of $25,000. There is not a required amount to open these CDs, but the higher the account balance, the higher the rate you earn.

The Ally No Penalty CD allows you to withdraw your money anytime after the first six days. You cannot make a partial withdrawal of the funds. If you are going to withdraw the money, you must withdraw the entire CD balance.

Read the full Ally Bank review.

Vio Bank offers a wide variety of CD terms. There are 11 different CD terms available through Vio Bank. The terms range from 6-months to 120-months. Each of the CD terms can be opened online. You must be 18 years or older to open an account with Vio.

The Vio Bank CDs offer competitive interest rates. The rates are competitive with other online accounts. They are much higher than typical bank rates. Each term offers rates competitive with other online CDs of the same term length. Vio Bank regularly monitors interest rates. This helps to ensure their rates are competitive with national rates.

The amount required to open Vio Bank CDs is low. Each CD only requires $500 to open. You can open any of the CDs online, with that set amount. With the required opening amount, you will earn the competitive interest rates on the CD.

When you open a CD with Vio Bank, you can choose how often and how to receive earned interest. Choose how often your interest credits to your CD. There may be options on what account to have the interest credit to as well. If you close your account before the interest credits, you will not receive your earned interest.

Vio Bank CDs are not eligible for fund transfers. Only the savings accounts are eligible for the fund's transfer. If you try to transfer funds to or from your Vio Bank CD, you will receive an error message.

To withdraw money from the CDs before the maturity date has a set penalty and a fee for terms longer than 31 days. For terms 31 days or shorter, the penalty is all the earned interest on the withdrawn amount. For terms from 32 days to 12 months, the penalty is one percent on the withdrawn amount and a $25 fee. For terms longer than 12-months, the penalty is three percent of the withdrawn amount and a fee of $25.

Vio Bank does not offer an interest rate guarantee. The rate on the day you open your Vio Bank CD is the rate you earn for the life of the CD term. If the rates increase shortly after opening your account, your CD rate will not increase.

Vio Bank is an entirely online bank. Customer service has specific hours and ways to contact them. Reach a representative through phone, email, or mail. Vio does offer extended customer service hours. But, a representative is not available anytime.

Read the full Vio Bank review.