Building a CD ladder may be a complex task for some savers, so Ally Bank launched a new tool that will educate customers on how they can establish their own CD ladders.
After creating a sample CD ladder, customers can visualize what they have to do to keep the ladder going. Also, they can compare the interest-earnings between CD laddering and annual CD renewal.
A calculator also shows customers how they can create 3-year and 4-year CD ladders.
Savers typically use CD ladders to take advantage of higher interest rates from long-term CDs without sacrificing too much liquidity.
Ally Bank Offers Online CD-Ladder Tool
