Demand Notes Features

Note: The prospectus contains complete information concerning GMAC Demand Notes

Demand Notes offer eligible members of the GM Family a convenient means of investing funds directly with GMAC. Demand Notes is an unsecured and unsubordinated debt obligation of GMAC ranking equally with all of our other unsecured and unsubordinated obligations. Demand Notes is neither a money market fund (which is generally a diversified investment consisting of investments in short term debt securities of many companies) nor a bank account and is not FDIC insured. Demand Notes is offered in the U.S. by prospectus only.

Demand Notes pay a floating rate of interest that will always be greater than the most recent seven-day average yield (simple) on taxable U.S. money market funds (as published in the iMoney Funds Report Averages all taxable). Interest is compounded daily and automatically reinvested in your Demand Notes at the end of each month. This allows you to earn a higher annual yield. Plus, the interest rate is reviewed weekly to reflect market conditions. Demand Notes is not a money market fund, which is generally a diversified fund consisting of investments in short term debt securities of many companies.

Your funds are available on Demand. You're not locked in for a set period of time. You can redeem all or part of your investment by writing a check (minimum $250) or initiating an ACH or wire redemption.

Demand Notes has a low minimum initial investment of $1000. Additional investments for as little as $50 can be made at any time.

GMAC will not charge you a Demand Notes maintenance or management fee nor will you be charged for checks, check redemptions or wire/ACH redemptions. You may, however, be charged a fee by your local bank or financial institution for wire/ACH redemptions. A fee will be charged for checks returned for non sufficient funds, stop payment requests, Bank of New York Mellon Bank checks, Bank of New York Mellon cashier checks and checks written for less than $250. A rush order request for redemption checks is available for a fee. These fees will be directly debited from your Demand Notes.

You will receive a monthly summary of your investments and redemptions so that you will always have an accurate record of your investment. Also, your transaction information is available through online access Demand Notes Online Access and through the automated phone system (1-800-684-8823).

GMAC is a global, financial services company that operates in approximately 40 countries, in auto finance, residential mortgage, insurance and commercial finance businesses. Your investment will be used directly by GMAC for the everyday operation of its financing business.