About six weeks ago, I noted that the CD rate loyalty bonus at Ally Bank was set to expire at the end of this month. If you’re not familiar with this bonus…
When one of your Ally Bank CDs has matured, they’ve typically given you a 0.25% bonus on top of the prevailing rate if you renew it.
According to the rep that I spoke with, not only was the CD rate bonus set to expire, but there were no plans to extend it — or at least none that he knew of.
Well… I just chatted with an Ally rep this morning and asked about the fate of the loyalty bonus. Here’s our exchange:
Me: What’s the deal with the loyalty bonus for CD renewals? I heard that it was ending this month. Has it been extended?
Rep: Yes, it has been extended until March 31, 2013.
So there you have it. The loyalty bonus is alive and well for (at least) another quarter — and hopefully beyond.
Given past history, it’s probably safe to assume that this bonus will remain in place for the foreseeable future, though it’s always possible that they’ll have a change of heart.
Also, as I noted last time I wrote about this, Ally will let you change the term of your CD when renewing and still give you the bonus.