<prompt> Human: Im just wondering if Im missing something here.Ive been looking at Ally Banks services, and they have a savings account at 1.15. AFAIK, there are no hidden fees, no minimum, and there is a limit of 6 transactions per month.At the same time, they also offer the No Penalty CD with 1-1.5 interest. Similar to a regular CD, except you can withdraw the entire balance with no penalty after a week.But then.. they have the 3-mo and 6-mo CDs with less than 0.67 interest. Why do these even exist? Why would anyone choose the 3-mo or 6-mo CD if they can just throw it in the savings or No Penalty CD?  <response>: Savings rate can be cut if theres some catastrophic blow to the economy and the Fed slashes rates again. CD rates are locked in for the term.Edit: Not sure on No Penalty CD. 