Ally Bank: Savings Account & Rates

By Aviel Fahl

|

Updated: 3/7/2026

Mission: Banksparency aims to make Ally Bank's savings account transparent and comparable to the market.

Interest rates reported as APY

Analysis of Ally Bank

Our verdict

Ally Bank offers a high-yield savings account paying 3.20% APY with no minimum deposit.

At 3.20% APY, Ally Bank pays 8x the national average (0.39%). Ranks in the top tier of 99+ accounts tracked.

Ideal User Profile

  • Best for: simple saving without extra requirements, banking without needing a branch, and quick transfers with Zelle.

Key Differentiators

  • Stands out with top-rated iOS app (4.7), A+ BBB rating, Zelle for instant transfers.

Savings Overview

Savings Account

3.20% APY
Rate Adjusted
-0.10%
Since 30 days ago
No Minimums Online Only
Min. Deposit$0
Min. Balance$0
Maintenance Fee$0
Rank #74 of 99 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.15% APY.

See Top Rates
National Avg: 0.39% (FDIC, 2/1/2026).
Banksparency tracks live rates daily.

Bank Overview

Visit Official Website

Top Market Contenders

CIT Bank
3.75% APY
vs. Ally Bank
Barclays
3.85% APY
vs. Ally Bank
American Express
3.30% APY
vs. Ally Bank
Popular Peer Comparisons
SoFi Bank vs Varo BankAxos Bank vs SoFi BankCIT Bank vs EverBankBarclays vs Capital OneMarcus by Goldman Sachs vs Synchrony BankBarclays vs CIT Bank

Savings Account: In-Depth View

Savings Account Offered by Ally Bank

Feature
Savings Account
APY
3.20%Verified: 3/7/2026
APY Trend
Rate Adjusted
-0.10%
Since 30 days ago
Min. Deposit
$0
Min. Balance
$0
Monthly Fee
$0
Direct Deposit
None
Checking Bundle
No
Branch Access
None
Compounding
Daily
FDIC Insured
 Yes
Eligibility
United States
Next Steps-

Calculate Savings for Ally Bank

All calculations are based on APY.
Savings Account3.20% APY
$
$

Savings Breakdown

  • Interest Earned
    +$1,241.70(8.1%)
  • Total Contributions
    $13,000
  • Initial Deposit
    $1,000

Projected Balance

$15,241.70

Effective APY
3.20%

The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.

Ally Bank Savings Rates Over Time

Historical APY Insights

Last 12 Months
MetricSavings Account
Latest APY
3.20%
Trend
Sideways
Slope (bps/mo)
-3.8
Rate Changes / Mo
0.41
Days Since Last Change
15
High (-12m)
3.70%
Low (-12m)
3.20%
Draw-down
-13.5%
Volatility (CV)
0.041
How to read these metrics▼
Trends & Velocity
Trend
The general direction of the rate over the analyzed period. Useful for spotting if a bank is currently aggressive or pulling back.
Slope (bps/mo)
Speed of change. A high positive number means they raise rates quickly. 10 bps = 0.10%.
Rate Changes / Mo
"Twitchiness." High frequency means the rate changes constantly; low frequency means it's stable.
Risk & Range
High/Low
The absolute ceiling and floor of the rate during the 365-day window.
Volatility Score
Lower is better for predictability. It indicates how wildly the rate swings relative to its average.
Days Since Change
If this number is high (e.g., >90), the rate is very sticky. If low, it changed recently.

Why track this? Understanding volatility helps you avoid "bait-and-switch" rates. A steady, rising slope is ideal; high volatility often signals a temporary teaser rate.

Compare with Ally Bank

Feature
Current View
Ally Bank
Empty Slot
ProductSavings Account-
APY
3.20%Verified: 3/7/2026
-
APY Trend
Rate Adjusted
-0.10%
Since 30 days ago
-
Min. Deposit$0-
Monthly Fee$0-
Direct Deposit
No-
Checking Bundle
No-
Branch AccessNone-
Eligibility United States-
Compounding
Daily-
FDIC Insured
Yes-
Next Steps--

Bank-to-Bank Comparisons

Compare Ally Bank's APY of 3.20% with other banks
Bank PairCompetitor APYMin Deposit
Ally Bank vs Affirm3.20%$0
Ally Bank vs American Express3.30%$0
Ally Bank vs Axos Bank4.21%$0
Ally Bank vs Bank of America0.01%$100
Ally Bank vs Barclays3.85%$0
Ally Bank vs Bask Bank0.25%$0
Ally Bank vs Betterment3.90%$10
Ally Bank vs BMO Alto3.15%$0
Ally Bank vs Bread Savings4.00%$100
Ally Bank vs BrioDirect3.75%$5,000
Ally Bank vs Capital One3.30%$0
Ally Bank vs Carver Bank4.00%$5,000
Ally Bank vs Charles Schwab Bank0.15%$0
Ally Bank vs Chase Bank0.01%$0
Ally Bank vs Chime3.00%$0
Ally Bank vs CIT Bank3.75%$100
Ally Bank vs Citibank3.20%$0
Ally Bank vs Citizens Access™3.15%$0.01
Ally Bank vs Climate First Bank4.01%$50
Ally Bank vs Colorado Federal Savings Bank4.05%$50,000
Ally Bank vs Discover Bank3.30%$0
Ally Bank vs E*TRADE from Morgan Stanley3.35%$0
Ally Bank vs Elevault3.82%$0
Ally Bank vs EverBank3.90%$0
Ally Bank vs Fitness Bank4.50%$100
Ally Bank vs FNBO Direct3.00%$1
Ally Bank vs Forbright Bank3.85%$0
Ally Bank vs FVCbank4.00%$500
Ally Bank vs GO2bank4.50%$0
Ally Bank vs Ivy Bank3.85%$2,500
Ally Bank vs Jenius Bank4.05%$0
Ally Bank vs LendingClub4.00%$0
Ally Bank vs Marcus by Goldman Sachs3.65%$0
Ally Bank vs MutualOne Bank4.07%$20,000
Ally Bank vs My Banking Direct4.02%$500
Ally Bank vs Neighbors Bank4.20%$0
Ally Bank vs Newtek Bank4.20%$0.01
Ally Bank vs Openbank4.09%$500
Ally Bank vs Peak Bank4.02%$100
Ally Bank vs Pibank4.60%$0
Ally Bank vs PNC3.25%$0
Ally Bank vs Popular Direct3.90%$100
Ally Bank vs Presidential Bank3.75%$5,000
Ally Bank vs Quontic Bank3.50%$100
Ally Bank vs Salem Five Direct3.61%$10
Ally Bank vs Sallie Mae Bank3.85%$0
Ally Bank vs Santander Bank0.01%$25
Ally Bank vs SoFi Bank4.00%$0
Ally Bank vs Synchrony Bank3.50%$0
Ally Bank vs TD Bank2.36%$0
Ally Bank vs TIMBR4.15%$1,000
Ally Bank vs UFB Direct3.46%$5000
Ally Bank vs Upgrade3.05%$0
Ally Bank vs Valley Direct4.00%$1,000
Ally Bank vs Varo Bank5.00%$0
Ally Bank vs Vio Bank4.03%$100
Ally Bank vs Wealthfront4.20%$0
Ally Bank vs Wells Fargo0.05%$25
Ally Bank vs Zynlo Bank3.85%$10

Alternatives to Ally Bank

Banks with Higher/Similar Savings APY

For a top list of the highest savings rates, see all HYSA top rates

Western Alliance Bank

High-Yield Savings Premier: 3.80% APY

Minimum Deposit: $500

Online Only

ConnectOne Bank

Connection Plus Savings: 3.05% APY

Minimum Deposit: $2,500

BrioDirect

High-Yield Savings Account: 3.75% APY

Minimum Deposit: $5,000

Online Only

FVCbank

Advantage Direct Savings: 4.00% APY

Minimum Deposit: $500

Online Only

Citizens Access™

Citizens Access® Savings: 3.15% APY

Minimum Deposit: $0.01

Online Only

Northeast Bank

High-Yield Savings: 2.75% APY

Minimum Deposit: $2,500

Eligible States: Limited (see details)

Propel Fusion Savings: 0.05% APY

Minimum Deposit: $50

Eligible States: Limited (see details)

Propel Preferred Savings: 2.75% APY

Bundled Savings & Checking Account

Minimum Deposit: $50

Eligible States: Limited (see details)

Fitness Bank

Fitness Savings Account: 4.20% APY

Minimum Deposit: $100

Online Only

Fitness Elite Checking & Fitness Savings Combo: 4.50% APY

Bundled Savings & Checking Account

Minimum Deposit: $100

Online Only

Prime Alliance Bank

Personal Savings: 3.75% APY

Minimum Deposit: $0

My Banking Direct

High Yield Savings Account: 4.02% APY

Minimum Deposit: $500

Online Only

Valley Direct

High-Yield Savings Account: 4.00% APY

Minimum Deposit: $1,000

Eligible States: Limited (see details)

First Foundation Bank

Online Savings: 3.75% APY

Minimum Deposit: $1,000

Online Only

Openbank

High-Yield Savings Account: 4.09% APY

Minimum Deposit: $500

Online Only