Ally Bank

Last Updated: 6/20/2025

Note: Interest rates below are reported as APY, or Annual Percentage Yield

Quick Views

Savings Account: 3.50% APY(Rank 71 out of 74 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.42% (as of 5/19/2025)

Note: The FDIC tracks savings and CD rates nationally, but it does not report APY, only the average interest rate.

(Source: FDIC)

Bank Overview

BBB Rating: A+

App Store Rating: 4.7/5

Google Play Rating: 4.4/5

Website: Visit Ally Bank

Our Take on Ally Bank

Highlights

  • Current APY is 3.50%, slightly lower than 30 days ago (3.60%)
  • No minimum deposit or balance requirements
  • No maintenance fees for the savings account
  • BBB rating of A+ indicates high trustworthiness

Considerations

  • No physical branches available for in-person banking
  • Direct deposit not required, which may limit some users
  • App Store rating is 4.7, while Google Play rating is lower at 4.4
  • Only one type of savings account offered
Summary: Ally Bank offers a competitive APY of 3.50% for its online-only savings account, with no minimum deposit, balance, or maintenance fees. However, it lacks physical branches and only provides one savings account option. The bank has a high BBB rating of A+, ensuring trustworthiness. While the app ratings are strong, the Google Play rating is notably lower than the App Store rating, which may concern some potential users.

Savings Account

Savings Account Offered by Ally Bank

FeatureSavings Account
APY
3.50% (as of 6/20/2025)
APY Trend-0.10% WoW
Minimum Deposit$0
Minimum Balance for APY$0
FDIC-insured
Yes
Online OnlyYes
Bundled Account
No
Direct Deposit Required
No
Compound Frequency
Daily
Maintenance Fee$0
EligibilityUnited States

No deposit agreement summary available for this bank.

Calculate Savings for Ally Bank

All calculations are based on APY.

Savings Account (APY: 3.50%)

Deposit Frequency:

Total savings breakdown:

  • Interest earned: $3 (2.91%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $100 (97.09%)

Your total balance

$103.00

Effective APY: 3.50% (based on your deposit and contributions)

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

MetricSavings Account
Latest APY3.50 %
TrendSideways
Slope (bps/mo)-4.7
Rate Changes / Mo0.63
Days Since Last Change3
High (-5 m)3.80 %
Low (-5 m)3.50 %
Draw-down from High-7.9 %
Volatility (CV)0.020
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 months (regression slope).
Slope (bps/mo)
Average monthly change; 10 bps = 0.10 pp.
Rate Changes / Mo
Typical number of APY moves per month.
Days Since Last Change
Recency of the latest APY adjustment.
High (-5 m)
Highest APY in the last 144 days.
Low (-5 m)
Lowest APY in the last 144 days.
Draw-down from High
How far today sits below the 5-month peak.
Volatility (CV)
Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
  • See how quickly a bank reacts to Fed moves or competition.
  • Gauge “twitchiness” - frequent moves can annoy savers.
  • Spot if you're buying near a peak (draw-down) or riding a rise.
  • Slope (bps/mo) shows speed of change.
  • Volatility (CV) scales jumps by average level.

Compare Ally Bank's Savings Account

  • Affirm - 3.85% APY
  • All America Bank - 1.50-3.25% APY
  • Amalgamated Bank - 2.25% APY
  • American Express - 3.60% APY
  • Axos Bank - 4.66% APY
  • Bank5 Connect - 4.05% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 4.20% APY
  • Betterment - 4.00% APY
  • BMO Alto - 3.60% APY
  • Bread Savings - 4.30% APY
  • BrioDirect - 4.30% APY
  • Capital One - 3.60% APY
  • Carver Bank - 4.00% APY
  • Charles Schwab Bank - 0.15% APY
  • Chase Bank - 0.01% APY
  • Chime - 1.25-3.75% APY
  • CIBC Bank USA - 4.11% APY
  • CIT Bank - 0.25-4.00% APY
  • Citibank - 3.60% APY
  • Citizens Access™ - 3.70% APY
  • Colorado Federal Savings Bank - 4.25% APY
  • ConnectOne Bank - 4.00% APY
  • Customers Bank - 4.23% APY
  • Discover Bank - 3.60% APY
  • E*TRADE from Morgan Stanley - 4.00% APY
  • EverBank - 4.30% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.25% APY
  • Fitness Bank - 5.00% APY
  • Flagstar Bank - 4.00% APY
  • Forbright Bank - 4.25% APY
  • FVCbank - 4.35% APY
  • High Plains Bank - 0.23-3.82% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.40-4.40% APY
  • Live Oak Bank - 4.10% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • My Banking Direct - 4.30% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.60% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.30% APY
  • Peak Bank - 4.44% APY
  • Pibank - 4.60% APY
  • PNC - 3.95% APY
  • Poppy Bank - 4.25% APY
  • Popular Direct - 4.05% APY
  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 4.05% APY
  • Primis Bank - 4.35% APY
  • Quontic Bank - 3.85% APY
  • RBMAX - 4.15% APY
  • Rising Bank - 4.30% APY
  • ROGER - 4.65% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.03% APY
  • SoFi Bank - 3.80% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 4.26% APY
  • TD Bank - 0.05-3.00% APY
  • The State Exchange Bank - 1.90% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 4.01-4.21% APY
  • Upgrade - 4.02% APY
  • Valley Direct - 4.20% APY
  • Varo Bank - 2.50-5.00% APY
  • Western Alliance Bank - 4.30% APY
  • Zynlo Bank - 4.35% APY
FeatureAlly BankSelect a bank...
ProductSavings AccountN/A
APY
3.50% (as of 6/20/2025)N/A
Bundled Account
NoN/A
FDIC-insured
YesN/A
Online OnlyYesN/A
Compound Frequency
DailyN/A
Minimum Deposit$0N/A
Minimum Balance for APY$0N/A
Maintenance Fee$0N/A
Direct Deposit Required
NoN/A

Bank-to-Bank Comparisons

Compare Ally Bank's APY of 3.50% with other banks
Bank PairBest APYMin Deposit
Ally Bank vs American Express3.60%$0
Ally Bank vs Axos Bank4.66%$0
Ally Bank vs Bank of America0.01%$100
Ally Bank vs Barclays4.10%$0
Ally Bank vs Capital One3.60%$0
Ally Bank vs Chase Bank0.01%$0
Ally Bank vs Chime3.75%$0
Ally Bank vs CIT Bank4.00%$100
Ally Bank vs Discover Bank3.60%$0
Ally Bank vs Fitness Bank5.00%$100
Ally Bank vs Marcus by Goldman Sachs3.65%$0
Ally Bank vs SoFi Bank3.80%$0
Ally Bank vs Synchrony Bank3.80%$0
Ally Bank vs Varo Bank5.00%$0