Ally Bank has an amusing new commercial using Nobel Prize-winning economist Thomas Sargent to promote their Raise Your Rate CD. Currently the 2-year CD pays 1.05% APY but has the uncommon feature that allows you to bump up the rate once during the term if rates rise. They also have a 4-year CD at 1.30% APY that allow two bump-ups during the term. Via MR, it’s short and sweet:
I actually prefer their 5-year CD with short early withdrawal penalty, which offers a higher rate but no rising rate protection.