Ally Bank: Savings Account & Rates
Mission: Banksparency aims to make Ally Bank's savings account transparent and comparable to the market.
Savings Overview
Savings Account
| Min. Deposit | $0 |
| Min. Balance | $0 |
| Maintenance Fee | $0 |
Market Reality Check
This bank offers rates below the current top tier. The best rates we track are currently above 4.20% APY.
Bank Overview
- HQ LocationSandy, Utah
- Founded2004
- Ratings & Trust
- Zelle® SupportAvailableDaily Limit: $5,000Benchmark for online Zelle; high limits.
- Deposit InsuranceFDIC Insured(Cert: 57803)
Our Take on Ally Bank
The Good
- Decent APY of 3.30%
- No minimum deposit or balance requirements
- No monthly maintenance fees
- Highly rated mobile apps (iOS: 4.7, Android: 4.4)
Considerations
- No physical branch access (online only)
- Yield is below current market leaders
Ally Bank offers a Savings Account with an attractive APY of 3.30%. This account features no minimum deposit or balance requirements, and there are no monthly maintenance fees. Additionally, it has highly rated mobile apps, with scores of 4.7 for iOS and 4.4 for Android. Importantly, there are no direct deposit requirements, and the account does not have any promotional or tiered conditions. However, it is important to note that Ally Bank operates online only, meaning there is no physical branch access, and the yield is below that of current market leaders.
Top Market Contenders
Savings Account: In-Depth View
Savings Account Offered by Ally Bank
| Feature | Savings Account |
|---|---|
APY | 3.30%Verified: 1/21/2026 |
APY Trend | Rate Adjusted -0.10% 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
Savings Breakdown
- Interest Earned+$1,282.10(8.4%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$15,282.10
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 | 3.30% |
Trend | Sideways |
Slope (bps/mo) | -4.1 |
Rate Changes / Mo | 0.42 |
Days Since Last Change | 82 |
High (-12m) | 3.80% |
Low (-12m) | 3.30% |
Draw-down | -13.2% |
Volatility (CV) | 0.043 |
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 358-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 | 3.30%Verified: 1/21/2026 | - |
APY Trend | Rate Adjusted -0.10% 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 3.30% with other banks
Alternatives to Ally Bank
Banks with Higher/Similar Savings APY
For a top list of the highest savings rates, see all HYSA top rates
MySavingsDirect
MySavings Account: 3.35% APY
Minimum Deposit: $0
Online Only
Barclays
Tiered Savings: 4.00% APY
Minimum Deposit: $0
Online Only
Online Savings: 3.60% APY
Minimum Deposit: $0
Online Only
High Plains Bank
High Yield Savings Account: 3.82% APY
Minimum Deposit: $25
Chime
Chime High-Yield Savings Account: 3.50% APY
Bundled Savings & Checking Account
Minimum Deposit: $0
Online Only
Direct Deposit: You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days
Zynlo Bank
Tomorrow Savings Account: 3.85% APY
Minimum Deposit: $10
Online Only
ROGER
ROGER Savings: 3.61% APY
Bundled Savings & Checking Account
Minimum Deposit: $0
Online Only
Western Alliance Bank
High-Yield Savings Premier: 3.80% APY
Minimum Deposit: $500
Online Only
U.S. Bank
Smartly Savings: 3.50% APY
Bundled Savings & Checking Account
Minimum Deposit: $25
Openbank
High-Yield Savings Account: 4.20% APY
Minimum Deposit: $500
Online Only
Colorado Federal Savings Bank
High Yield Savings: 4.00% APY
Minimum Deposit: $1
Online Only
Premier Savings: 4.05% APY
Minimum Deposit: $50,000
Online Only
E*TRADE from Morgan Stanley
Premium Savings Account: 3.50% APY
Minimum Deposit: $0
Online Only
Capital One
360 Performance Savings: 3.30% APY
Minimum Deposit: $0