Ally Bank

Last Updated: 7/15/2025

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

Quick Views

Savings Account: 3.50% APY(Rank 68 out of 77 tracked HYSAs)

Minimum Deposit: $0 | Online Only

National Savings Interest Rate: 0.38% (as of 6/16/2025)

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 of 3.50%, slightly down from 3.60% last month.
No minimum deposit or balance requirements.
No monthly maintenance fees.
High App Store rating of 4.7.

Considerations

No physical branches available.
Direct deposit not required for APY.
Lower APY compared to some competitors.
Google Play rating of 4.4 is lower than App Store.

Summary: Ally Bank offers a competitive APY of 3.50% for its savings account, with no minimum deposit or maintenance fees. However, it lacks physical branches and has seen a slight decrease in APY over the past month. While the bank has strong ratings on both app stores, its APY is lower than some competitors, which may be a consideration for savers looking for the highest yield.

Savings Account

Savings Account Offered by Ally Bank

Feature	Savings Account
APY	3.50% (as of 7/15/2025)
APY Trend	-0.10% MoM
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: 3.50%)

Initial Deposit:

Recurring Deposit Amount:

Deposit Frequency:

Duration:

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

Metric	Savings Account
Latest APY	3.50 %
Trend	Sideways
Slope (bps/mo)	-4.9
Rate Changes / Mo	0.54
Days Since Last Change	27
High (-6 m)	3.80 %
Low (-6 m)	3.50 %
Draw-down from High	-7.9 %
Volatility (CV)	0.024

APY Insights Glossary

Latest APY: Most recent advertised annual-percentage yield.
Trend: Direction over the last 6 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 (-6 m): Highest APY in the last 168 days.
Low (-6 m): Lowest APY in the last 168 days.
Draw-down from High: How far today sits below the 6-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 - 3.50% APY
Bread Savings - 4.25% APY
BrioDirect - 4.30% APY
Capital One - 3.50% 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 - 4.02% APY
CIT Bank - 0.25-4.00% APY
Citibank - 3.50% 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 - 3.50% 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 - 3.20-4.20% 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 - 3.75% APY
RBMAX - 4.15% APY
Rising Bank - 4.30% APY
ROGER - 4.12% 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 - 4.15% 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 - 4.30% APY
Varo Bank - 2.50-5.00% APY
Wells Fargo - 0.05-2.51% APY
Western Alliance Bank - 4.25% APY
Zynlo Bank - 4.35% APY

Feature	Ally Bank	Select a bank...
Product	Savings Account	N/A
APY	3.50% (as of 7/15/2025)	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

Bank-to-Bank Comparisons

Compare Ally Bank's APY of 3.50% with other banks

Bank Pair	Best APY	Min Deposit
Ally Bank vs American Express	3.60%	$0
Ally Bank vs Axos Bank	4.66%	$0
Ally Bank vs Bank of America	0.01%	$100
Ally Bank vs Barclays	4.10%	$0
Ally Bank vs Capital One	3.50%	$0
Ally Bank vs Chase Bank	0.01%	$0
Ally Bank vs Chime	3.75%	$0
Ally Bank vs CIT Bank	4.00%	$100
Ally Bank vs Discover Bank	3.50%	$0
Ally Bank vs Fitness Bank	5.00%	$100
Ally Bank vs Marcus by Goldman Sachs	3.65%	$0
Ally Bank vs Presidential Bank	4.50%	$5,000
Ally Bank vs SoFi Bank	3.80%	$0
Ally Bank vs Synchrony Bank	3.80%	$0
Ally Bank vs Varo Bank	5.00%	$0
Ally Bank vs Wells Fargo	2.51%	$25