Ally Bank vs. American Express
Compare rates, requirements, and features side-by-side to find the best option for you.
Ally Bank
Savings Account
3.30%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Ally Bank
Savings Account
American Express
High Yield Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppShow Fine Print & Trends Hide Details
American Express
High Yield Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Ally Bank vs. American Express
Why Ally Bank?
- ✓Higher rated Android app (4.4 vs 3.6)
Why American Express?
No distinct advantages found vs Ally Bank.
— Key Feature Differences —
Better Returns at $10,000
American ExpressAmerican Express's High Yield Savings Account earns more on smaller deposits (approx. $340 vs $330/yr).
Shared Benefits
Over a 1-year period, American Express's High Yield Savings Account pays $10 more interest on a $10,000 balance than Ally Bank's Savings Account.
Executive Summary
American Express offers a High Yield Savings Account with a competitive APY of 3.40%, making it the winner in this comparison. In contrast, Ally Bank's Savings Account provides a slightly lower APY of 3.30%. Both accounts have no minimum deposit or balance requirements, no maintenance fees, and are online-only. Additionally, neither account requires direct deposit, allowing for flexibility in fund management. However, American Express's product is noted to yield better returns on smaller deposits, highlighting its appeal for customers looking to maximize their savings.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
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| Feature | Ally Bank | American Express |
|---|---|---|
| APY | 3.30% Verified: 12/6/2025 ↘︎ 0.20%90d Change | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change |
| Product Name | Savings Account | High Yield Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.4 | iOS4.9 Android3.6 |
| BBB Rating | A+ | F |
| Next Steps |
Savings Comparison
American Express earns $63.4 more than Ally Bank.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$1,987.10(9.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,987.10
American Express
High Yield Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | American Express |
|---|---|---|
| Savings Account | High Yield Savings Account | |
Current APY | 3.30% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.3 | -3.2 |
Days Since Change | 36 | 10 |
10-Month High | 3.80% | 3.80% |
10-Month Low | 3.30% | 3.40% |
Adjustments / Mo | 0.48 | 0.38 |
Volatility Score | 0.039 | 0.030 |
How to read these metrics(Click to expand)
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