When figuring out who has the best CD rate offering for the week, the monetary amount of the CD causes big swings in the market offering results. For instance, the rates offered for a $25,000 CD are going have an entirely different field of players versus the rates offered for a $1,000 CD.
The above said, Ally Bank probably offers the best all around CD rate offering for all savers combined. Granted their are some players offering 1.05 percent, but these competitors are expecting savers to put down and lock up anywhere from $5,000 to $25,000 in a CD. Ally, on the other hand, is offering a flat 0.97 percent to all CDs created in its institution, regardless of whether the CD amount is $100 or $10,000. This approach provides far greater flexibility to a far larger population of savers than some of the other players who are marginally better.
Among the online banks that regularly pay more anyways, Ally's CD rate is the highest paying option currently in March 2013. Capital One 360, for example, is only offering 0.75 percent, a CD rate lower than its basic savings account interest paid.
Ally Bank's CDs have no minimum deposit requirement, the institution provides a 10-day adjustment for customers should rates change when the CD is first opened, earnings are compounded daily, all savings are FDIC-insured, and most importantly Ally offers a no-penalty early cash out of a CD 6 days after initial funding. Almost all other banks charge a penalty for an early withdrawal.
So given all of the above, Ally comprehensively offers the best CD rate offering for consumers as of March 2013.