Ally Bank

Last Updated: 5/21/2025

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

Quick Views

Savings Account: 3.60% APY(Rank 68 out of 76 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

Savings Account

Savings Account Offered by Ally Bank

Feature	Savings Account
APY	3.60% (as of 5/21/2025)
APY Trend	Stable for the last month
Minimum Deposit	$0
Minimum Balance for APY	$0
FDIC-insured	Yes
Online Only	Yes
Bundled Account	No
Direct Deposit Required	No
Compound Frequency	Daily
Maintenance Fee	$0
Eligibility	United States
No deposit agreement summary available for this bank.

Calculate Savings for Ally Bank

All calculations are based on APY.

Savings Product:

Savings Account (APY: 3.60%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

Total savings breakdown:

Interest earned: $4 (3.85%)
Total contributions: $0 (0.00%)
Initial deposit: $100 (96.15%)

Your total balance

$104.00

Effective APY: 3.60% (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

Metric	Savings Account
Latest APY	3.60 %
Trend	Falling
Slope (bps/mo)	-6.2
Rate Changes / Mo	0.16
Days Since Last Change	54
12-M High	3.80 %
12-M Low	3.60 %
Draw-down from High	-5.3 %
Volatility (CV)	0.020

Compare Ally Bank's Savings Account

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All America Bank - 1.50-3.49% APY
Amalgamated Bank - 2.25% APY
American Express - 3.60% APY
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Western Alliance Bank - 4.30% APY
Zynlo Bank - 4.35% APY

Feature	Ally Bank	Select a bank...
Product	Savings Account	N/A
APY	3.60% (as of 5/21/2025)	N/A
Bundled Account	No	N/A
FDIC-insured	Yes	N/A
Online Only	Yes	N/A
Compound Frequency	Daily	N/A
Minimum Deposit	$0	N/A
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	N/A
Direct Deposit Required	No	N/A

Ally Bank vs. Major Banks: Savings Accounts

Click on the items below to view the comparisons

Ally Bank vs. Bank of America

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Feature	Ally Bank	Bank of America
Feature	Savings Account	Advantage Savings
APY	3.60% APY) (as of 5/21/2025)	0.01% APY (as of 5/21/2025)
Bundled Account	No	No
FDIC-insured	Yes	Yes
Online Only	Yes	No
Compound Frequency	Daily	Monthly
Minimum Deposit	$0	$100
Minimum Balance for APY	$0	N/A
Maintenance Fee	$0	$8
Direct Deposit Required	No	No
Eligibility	United States	United States
Note	N/A	APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc.

Ally Bank vs. Citibank

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Feature	Ally Bank	Citibank
Feature	Savings Account	Citi® Savings Account	Citi Accelerate Savings
APY	3.60% APY) (as of 5/21/2025)	0.03% APY (as of 5/21/2025)	3.60% APY
Bundled Account	No	No	No
FDIC-insured	Yes	Yes	Yes
Online Only	Yes	No	Yes
Compound Frequency	Daily	Daily	Daily
Minimum Deposit	$0	$0	$0
Minimum Balance for APY	$0	$0.01	$0.01
Maintenance Fee	$0	$4.50. Waived for average monthly balances > $500	$4.50. Waived for average monthly balances > $500
Direct Deposit Required	No	No	No
Eligibility	United States	California, Connecticut, Maryland, Nevada, New Jersey, New York, Virginia (partial), Washington D.C., and select parts of Florida and Illinois. In addition, promotional rates may be available if requirements are met.	Alaska, Alabama, Arkansas, Arizona, Colorado, Delaware, Florida (select parts), Georgia, Hawaii, Iowa, Idaho, Illinois (select parts), Indiana, Kansas, Kentucky, Louisiana, Maine, Michigan, Minnesota, Missouri, Mississippi, Montana, North Carolina, North Dakota, Nebraska, New Hampshire, New Mexico, Ohio, Oklahoma, Oregon, Pennsylvania, Rhode Island, South Carolina, South Dakota, Tennessee, Texas, Utah, Virginia (partial), Washington (partial), Wisconsin, West Virginia, Wyoming.
Note	N/A	N/A	N/A

Ally Bank vs. Chase Bank

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Feature	Ally Bank	Chase Bank
Feature	Savings Account	Chase Savings℠
APY	3.60% APY) (as of 5/21/2025)	0.01% APY (as of 5/21/2025)
Bundled Account	No	No
FDIC-insured	Yes	Yes
Online Only	Yes	No
Compound Frequency	Daily	Monthly
Minimum Deposit	$0	$0
Minimum Balance for APY	$0	$0
Maintenance Fee	$0	$5
Direct Deposit Required	No	No
Eligibility	United States	United States
Note	N/A	APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc.

Ally Bank vs. Capital One

▼

Feature	Ally Bank	Capital One
Feature	Savings Account	360 Performance Savings
APY	3.60% APY) (as of 5/21/2025)	3.60% APY (as of 5/21/2025)
Bundled Account	No	No
FDIC-insured	Yes	Yes
Online Only	Yes	No
Compound Frequency	Daily	Monthly
Minimum Deposit	$0	$0
Minimum Balance for APY	$0	$0
Maintenance Fee	$0	$0
Direct Deposit Required	No	No
Eligibility	United States	United States
Note	N/A	N/A