Ally Bank: Savings Accounts & Rates

Savings rates updated: 10/14/2025

Mission statement: Banksparency aims to make Ally Bank's savings accounts transparent and comparable to those of other banks. Learn more about Banksparency.

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

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Savings Overview

Savings Account: 3.40% APY(Rank 73 out of 82 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.4% (as of 9/15/2025)

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

(Source: FDIC)

Bank Overview

Location: Sandy, Utah

Founded: 2004

Deposit Insurance: FDIC Cert # 57803

BBB Rating: A+

App Store Rating: 4.7/5

Google Play Rating: 4.3/5

Website: Visit Ally Bank

Our Take on Ally Bank

Highlights

  • Current APY of 3.40%, slightly lower than 30 days ago (3.50%)
  • No minimum deposit or balance requirements
  • No maintenance fees charged
  • High App Store rating of 4.7

Considerations

  • Only available online, no physical branches
  • Direct deposit not required, but may limit some features
  • Google Play rating of 4.3 is lower than App Store rating
  • APY decreased in the last month
Summary: Ally Bank offers a competitive savings account with a current APY of 3.40%, which is slightly lower than the previous month's rate. There are no minimum deposit or balance requirements, and no maintenance fees, making it accessible for savers. However, it operates exclusively online, lacking physical branches, and the APY has decreased recently. The bank maintains a strong BBB rating of A+ and good app ratings, enhancing its credibility.

Savings Account: In-Depth View

Savings Account Offered by Ally Bank

FeatureSavings Account
APY
3.40% (as of 10/14/2025)
APY Trend-0.10% MoM
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
Sponsored Link

No deposit agreement summary available for this bank.

Calculate Savings for Ally Bank

All calculations are based on APY.

Savings Account (APY: 3.40%)

Deposit Frequency:

Total savings breakdown:

  • Interest earned: $1,322.7 (8.63%)
  • Total contributions: $13,000 (84.84%)
  • Initial deposit: $1,000 (6.53%)

Your total balance

$15,322.70

Effective APY: 3.40% (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 APY3.40 %
TrendSideways
Slope (bps/mo)-3.8
Rate Changes / Mo0.46
Days Since Last Change19
High (-9 m)3.80 %
Low (-9 m)3.40 %
Draw-down from High-10.5 %
Volatility (CV)0.029
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 9 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 (-9 m)
Highest APY in the last 260 days.
Low (-9 m)
Lowest APY in the last 260 days.
Draw-down from High
How far today sits below the 9-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 - 3.60% APY
  • All America Bank - 1.50-3.25% APY
  • Amalgamated Bank - 2.25% APY
  • American Express - 3.50% APY
  • Ameriprise Bank - 3.15-3.15% APY
  • Axos Bank - 4.51% APY
  • Bank5 Connect - 4.05% APY
  • Bank of America - 0.01% APY
  • Barclays - 3.90-4.10% APY
  • Bask Bank - 4.05% APY
  • Betterment - 3.75% APY
  • BMO Alto - 3.25% APY
  • Bread Savings - 4.20% APY
  • BrioDirect - 4.20% APY
  • Capital One - 3.40% 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 - 3.92% APY
  • CIT Bank - 0.25-3.85% APY
  • Citibank - 3.40% APY
  • Citizens Access™ - 3.50% APY
  • Colorado Federal Savings Bank - 4.05% APY
  • ConnectOne Bank - 3.85% APY
  • Customers Bank - 3.98% APY
  • Discover Bank - 3.40% APY
  • Elevault - 4.34% APY
  • E*TRADE from Morgan Stanley - 3.75% APY
  • EverBank - 4.05% APY
  • Evergreen Bank Group - 4.25% APY
  • First Foundation Bank - 4.10% APY
  • Fitness Bank - 4.75% APY
  • Flagstar Bank - 3.90% APY
  • FNBO Direct - 3.00% APY
  • Forbright Bank - 4.00% APY
  • FVCbank - 4.10% APY
  • GO2bank - 4.50% APY
  • High Plains Bank - 0.23-3.82% APY
  • Jenius Bank - 4.20% APY
  • LendingClub - 3.20-4.20% APY
  • Live Oak Bank - 4.00% APY
  • Marcus by Goldman Sachs - 3.65% APY
  • MutualOne Bank - 4.07% APY
  • My Banking Direct - 4.20% APY
  • MySavingsDirect - 3.75% APY
  • Neighbors Bank - 4.50% APY
  • Newtek Bank - 4.35% APY
  • OMB Bank - 1.00% APY
  • Openbank - 4.20% APY
  • Peak Bank - 4.20% APY
  • Pibank - 4.60% APY
  • PNC - 3.85% APY
  • Poppy Bank - 4.25% APY
  • Popular Direct - 4.05% APY
  • Presidential Bank - 4.00-4.50% APY
  • Prime Alliance Bank - 3.90% APY
  • Primis Bank - 3.85% APY
  • Quontic Bank - 3.75% APY
  • RBMAX - 3.90% APY
  • Rising Bank - 4.10% APY
  • ROGER - 3.87% APY
  • Salem Five Direct - 4.01% APY
  • Sallie Mae Bank - 3.90% APY
  • Santander Bank - 0.01% APY
  • SmartyPig - 3.90% APY
  • SoFi Bank - 4.50% APY
  • Synchrony Bank - 3.80% APY
  • TAB Bank - 3.80% APY
  • TD Bank - 0.05-2.75% APY
  • The State Exchange Bank - 3.86% APY
  • TIMBR - 4.40% APY
  • UFB Direct - 3.76-3.96% APY
  • Upgrade - 3.42% APY
  • Valley Direct - 4.10% APY
  • Varo Bank - 2.50-5.00% APY
  • Wells Fargo - 0.05-0.05% APY
  • Western Alliance Bank - 4.10% APY
  • Zynlo Bank - 4.20% APY
FeatureAlly BankSelect a bank...
ProductSavings Account N/A
APY
3.40% (as of 10/14/2025)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 3.40% with other banks
Bank PairCompetitor APYMin Deposit
Ally Bank vs American Express3.50%$0
Ally Bank vs Axos Bank4.51%$0
Ally Bank vs Bank of America0.01%$100
Ally Bank vs Barclays4.10%$0
Ally Bank vs BrioDirect4.20%$5,000
Ally Bank vs Capital One3.40%$0
Ally Bank vs Chase Bank0.01%$0
Ally Bank vs Chime3.75%$0
Ally Bank vs CIT Bank3.85%$100
Ally Bank vs Discover Bank3.40%$0
Ally Bank vs Elevault4.34%$0
Ally Bank vs EverBank4.05%$0
Ally Bank vs Fitness Bank4.75%$100
Ally Bank vs FVCbank4.10%$500
Ally Bank vs GO2bank4.50%$0
Ally Bank vs Marcus by Goldman Sachs3.65%$0
Ally Bank vs Neighbors Bank4.50%$0
Ally Bank vs Newtek Bank4.35%$0
Ally Bank vs Peak Bank4.20%$100
Ally Bank vs Pibank4.60%$0
Ally Bank vs Presidential Bank4.50%$5,000
Ally Bank vs Santander Bank0.01%$25
Ally Bank vs SoFi Bank4.50%$0
Ally Bank vs Synchrony Bank3.80%$0
Ally Bank vs TIMBR4.40%$1,000
Ally Bank vs UFB Direct3.96%$5000
Ally Bank vs Varo Bank5.00%$0
Ally Bank vs Wells Fargo0.05%$25
Ally Bank vs Zynlo Bank4.20%$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

Evergreen Bank Group

High-Yield Online Savings: 4.25% APY (Inactive)

Minimum Deposit: $100

Online Only

UFB Direct

UFB Portfolio Savings: 3.76% APY

Minimum Deposit: $0

Online Only

UFB Checking and Savings Bundle: 3.96% APY

Minimum Deposit: $5000

Online Only

Direct Deposit: Not required

OMB Bank

High Interest Savings Account: 1.00% APY

Bundled Savings & Checking Account

Minimum Deposit: $25

Salem Five Direct

eOne Savings: 4.01% APY

Minimum Deposit: $10

Online Only

Quontic Bank

High Yield Savings: 3.75% APY

Minimum Deposit: $100

Online Only

CIT Bank

Platinum Savings: 3.85% APY

Minimum Deposit: $100

Online Only

Savings Connect: 3.75% APY

Minimum Deposit: $100

Online Only

Charles Schwab Bank

Schwab Bank Investor Savings™: 0.15% APY

Minimum Deposit: $0

FVCbank

Advantage Direct Savings: 4.10% APY

Minimum Deposit: $500

Online Only

Varo Bank

High-Yield Savings Account: 5.00% APY

Minimum Deposit: $0

Online Only

Direct Deposit: Min. $1,000/month

Bread Savings

High-Yield Savings Account: 4.20% APY

Minimum Deposit: $100

Online Only

E*TRADE from Morgan Stanley

Premium Savings Account: 3.75% APY

Minimum Deposit: $0

Online Only

Presidential Bank

Advantage Savings: 4.50% APY

Bundled Savings & Checking Account

Minimum Deposit: $5,000

Direct Deposit: To earn the higher APY you need a monthly direct deposit into an Advantage Checking Account of $500.