Is it just the current market or are there any Gotchas with Ally’s “No Penalty CD” which has a higher rate than all but their 18 month term “High Yield CD”

At the moment the “No Penalty CD” is 4.75 APY. The “High Yield CD” 9 month 4.15%, 12 month is 4.5%, 18 month 5.00% and 3 year 4.25%.

Ally seems to be pretty good about hidden fees even if their rate has not kept up compared to prior years. I just want to double check I’m not missing like different interest payout schedules that reduce the benefit of their No Penalty CD.

I have some funds I’d like to keep in cash equivalent levels of liquidity. For these funds I value not necessarily stopping but minimizing losses to inflation over easy liquidity.