Ally Bank: Savings Account & Rates

By Aviel Fahl

Updated: 5/16/2026

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 3.10% APY with no minimum deposit.

At 3.10% APY, Ally Bank pays 8x the national average (0.38%). Ranks in the top tier of 98+ 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

3.10% APY

Rate Adjusted

-0.20%

Since 90 days ago

No Minimums Online Only

Min. Deposit	$0
Min. Balance	$0
Maintenance Fee	$0

Rank #76 of 98 tracked.

Market Reality Check

This bank offers rates below the current top tier. The best rates we track are currently above 4.10% APY.

See Top Rates

National Avg: 0.38% (FDIC, 4/1/2026).
Banksparency tracks live rates daily.

Bank Overview

HQ LocationSandy, Utah
Founded2004
Ratings & Trust
4.7iOS 4.4Android A+BBB Not BBB Accredited
Zelle® SupportAvailable
Daily Limit: $5,000Benchmark for online Zelle; high limits.
Deposit InsuranceFDIC Insured(Cert: 57803)

Visit Official Website

Featured Offers

Axos ONE - High Yield Savings & Checking

Over 95,000 fee-free ATMs
Get paid up to 2 days early with Direct Deposit
One convenient app for spending & saving

FDIC Insured

Savings4.21%APY

Checking0.51%APY

Go to Axos Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$0
Min. Balance in Savings Account	$0
How to qualify for APY	OPTION ADirect Deposit $1,500+ AND Maintain $1,500+ avg daily checking balance. OR OPTION BDeposit $5,000+ total/mo AND Maintain $5,000+ avg daily checking balance.
Mobile Ratings	iOS:4.7 Android:4.6

The 4.21% APY is available with the Axos ONE savings and checking bundle. The checking account earns 0.51% APY. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000.

PREMIUM ACCOUNT, GENEROUS BONUS

SponsoredVerified May 16, 2026

FDIC Insured

CIT Bank - Platinum Savings

Competitive APY - with a balance of $5,000+
Earn up to $300 bonus with qualifying deposit
Highly rated mobile apps

FDIC Insured

Savings3.75%APY

Up to$300Bonus

Go to CIT Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$5,000
Mobile Ratings	iOS:4.8 Android:4.7

This is a tiered savings account, where the 3.75% APY requires meeting the $5,000 balance requirement. Lower balances earn an APY of 0.25%.

EASY TRANSFERS, LOW MINIMUMS

SponsoredVerified May 16, 2026

FDIC Insured

Quontic High Yield Savings

Apply in 3 minutes or less
No monthly service fees
Transfer with Zelle, Apple Pay, G-Pay, and more

FDIC Insured

Savings3.20%APY

Go to Quontic Bank

Member, FDIC

View Details

Monthly Maintenance Fee	None
Min. Deposit to Savings Account	$100
Min. Balance in Savings Account	$0
Mobile Ratings	iOS:4.8 Android:4.8

Top Market Contenders

CIT Bank

3.75% APY

vs. Ally Bank

Barclays

3.75% APY

vs. Ally Bank

American Express

3.20% APY

vs. Ally Bank

Popular Peer Comparisons

SoFi Bank vs Varo Bank Axos Bank vs SoFi Bank CIT Bank vs EverBank Barclays vs Capital One Marcus by Goldman Sachs vs Synchrony Bank Barclays vs CIT Bank

Savings Account: In-Depth View

Savings Account Offered by Ally Bank

Feature	Savings Account
APY	3.10%Verified: 5/16/2026
APY Trend	Rate Adjusted -0.20% Since 90 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.

Selected Product

Savings Account3.10% APY

Initial Deposit

Recurring Deposit

Frequency

Duration

Savings Breakdown

Interest Earned
+$1,201.30(7.9%)
Total Contributions
$13,000
Initial Deposit
$1,000

Projected Balance

$15,201.30

Effective APY

3.10%

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

Metric	Savings Account
Latest APY	3.10%
Trend	Sideways
Slope (bps/mo)	-4.0
Rate Changes / Mo	0.41
Days Since Last Change	30
High (-12m)	3.60%
Low (-12m)	3.10%
Draw-down	-13.9%
Volatility (CV)	0.042

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
Product	Savings Account	-
APY	3.10%Verified: 5/16/2026	-
APY Trend	Rate Adjusted -0.20% Since 90 days ago	-
Min. Deposit	$0	-
Monthly Fee	$0	-
Direct Deposit	No	-
Checking Bundle	No	-
Branch Access	None	-
Eligibility	United States	-
Compounding	Daily	-
FDIC Insured	Yes	-
Next Steps	-	-

Bank-to-Bank Comparisons

Compare Ally Bank's APY of 3.10% with other banks

Bank Pair	Competitor APY	Min Deposit
Ally Bank vs Affirm	3.20%	$0
Ally Bank vs American Express	3.20%	$0
Ally Bank vs Axos Bank	4.21%	$0
Ally Bank vs Bank of America	0.01%	$100
Ally Bank vs Barclays	3.75%	$0
Ally Bank vs Bask Bank	3.75%	$0
Ally Bank vs Betterment	3.90%	$10
Ally Bank vs BMO Alto	3.15%	$0
Ally Bank vs Bread Savings	4.00%	$100
Ally Bank vs BrioDirect	3.75%	$5,000
Ally Bank vs Capital One	3.10%	$0
Ally Bank vs Charles Schwab Bank	0.15%	$0
Ally Bank vs Chase Bank	0.01%	$0
Ally Bank vs Chime	3.00%	$0
Ally Bank vs CIT Bank	3.75%	$100
Ally Bank vs Citibank	3.10%	$0
Ally Bank vs Citizens Access™	3.15%	$0.01
Ally Bank vs Climate First Bank	4.01%	$50
Ally Bank vs Discover Bank	3.30%	$0
Ally Bank vs E*TRADE from Morgan Stanley	3.25%	$0
Ally Bank vs Elevault	4.34%	$0
Ally Bank vs EverBank	3.90%	$0
Ally Bank vs Fitness Bank	4.30%	$100
Ally Bank vs FNBO Direct	3.00%	$1
Ally Bank vs Forbright Bank	3.85%	$0
Ally Bank vs GO2bank	4.50%	$0
Ally Bank vs Ivy Bank	3.85%	$2,500
Ally Bank vs LendingClub	4.00%	$0
Ally Bank vs Marcus by Goldman Sachs	3.50%	$0
Ally Bank vs Neighbors Bank	4.10%	$0
Ally Bank vs Newtek Bank	4.20%	$0.01
Ally Bank vs Openbank	4.00%	$500
Ally Bank vs Peak Bank	3.82%	$100
Ally Bank vs Pibank	4.40%	$0
Ally Bank vs PNC	3.25%	$0
Ally Bank vs Santander Bank	0.01%	$25
Ally Bank vs SoFi Bank	4.00%	$0
Ally Bank vs Synchrony Bank	3.40%	$0
Ally Bank vs TD Bank	2.00%	$0
Ally Bank vs UFB Direct	3.46%	$5000
Ally Bank vs Upgrade	3.05%	$0
Ally Bank vs Varo Bank	5.00%	$0
Ally Bank vs Wealthfront	4.20%	$0
Ally Bank vs Wells Fargo	0.05%	$25