Ally Bank vs Axos Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Ally Bank vs. Axos Bank
As of August 29, 2025 Ally Bank offers an APY of 3.50% for its Savings Account, compared to Axos Bank's 4.46% APY for its Axos ONE account.
Axos Bank yields $96 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $350, while Axos Bank pays $446 - an APY advantage for Axos Bank.
In addition, Axos Bank also offers 4.00% APY for the Summit Savings account.
Ally Bank
Strengths
- Ally Bank offers a competitive APY of 3.50% with no minimum balance or maintenance fees.
Potential Drawbacks
- Ally Bank's APY has not changed in the past 30 days.
Axos Bank
Strengths
- Axos Bank provides a higher APY of 4.46%, though it requires specific conditions to qualify.
Potential Drawbacks
- Axos Bank's APY decreased from 4.66% over the last 30 days.
Summary: Ally Bank offers a stable APY of 3.50% with no requirements, while Axos Bank has a higher APY of 4.46% but requires maintaining certain balances or direct deposits. Both banks have no maintenance fees, but Axos Bank's APY has decreased recently, contrasting with Ally Bank's unchanged rate.
Compare Ally Bank's vs Axos Bank's Savings Accounts
| Ally Bank | Axos Bank | ||||
|---|---|---|---|---|---|
| Product | Savings Account | vs | Axos ONE | Summit Savings | High Yield Savings |
| APY | 3.50% (as of 8/29/2025) | 4.46% (as of 8/29/2025) | 4.00% (as of 8/29/2025) | 0.61% (as of 8/29/2025) | |
| Bundled Account | No | Yes | No | No | |
| FDIC-insured | Yes | Yes | Yes | Yes | |
| Online Only | Yes | Yes | Yes | Yes | |
| Compound Frequency | Daily | Daily | Daily | Daily | |
| Minimum Deposit | $0 | $0 | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | $0 | $0 | |
| Maintenance Fee | $0 | $0 | $0 | $0 | |
| Direct Deposit Required | No | No. Not required, but is the easiest way to earn the highest APY. | No | No | |
| Note | This APY is only available with the Axos ONE savings and checking bundle. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. | ||||
| Sponsored Link | LEARN MORE at Axos Bank, Member FDIC | ||||
| App Store Rating | 4.7/5 | 4.7/5 | |||
| Google Play Rating | 4.4/5 | 4.5/5 | |||
| BBB Rating | A+ | A+ | |||
Comparative Historical APY Insights (Last 7 Months)
| Ally Bank | Axos Bank | ||||
|---|---|---|---|---|---|
| Product | Savings Account | vs | High Yield Savings | Summit Savings | Axos ONE |
| Latest APY | 3.50 % | 0.61 % | 4.00 % | 4.46 % | |
| Trend | Sideways | Sideways | Sideways | Falling | |
| Slope (bps/mo) | -4.2 | -0.0 | 0.0 | -5.4 | |
| Rate Changes / Mo | 0.42 | 0.00 | 0.00 | 0.28 | |
| Days Since Last Change | 73 | 213 | 61 | 29 | |
| High (-7 m) | 3.80 % | 0.61 % | 4.00 % | 4.86 % | |
| Low (-7 m) | 3.50 % | 0.61 % | 4.00 % | 4.46 % | |
| Draw-down from High | -7.9 % | 0.0 % | 0.0 % | -8.2 % | |
| Volatility (CV) | 0.026 | 0.000 | 0.000 | 0.027 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 214 days.
- Low (-7 m)
- Lowest APY in the last 214 days.
- Draw-down from High
- How far today sits below the 7-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.
Calculate Savings Growth for Ally Bank vs Axos Bank
All calculations are based on APY.
Ally Bank
APY: 3.50%
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewAxos Bank
APY: 4.46%
Total savings breakdown:
- Interest earned: $2,733.9 (13.19%)
- Total contributions: $13,000 (62.70%)
- Initial deposit: $5,000 (24.12%)
Your total balance
$20,733.90
Effective APY: 4.46% (based on your deposit and contributions)
Total balance: $20,733.9
Earnings: $2,733.9
With a $5,000 initial deposit and $13,000 in total contributions over 5 years, Ally Bank's total earnings would be $619.8 lower than Axos Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Ally Bank's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Ally Bank vs American Express | 3.50% | $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 | 4.85% | $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 UFB Direct | 4.21% | $5000 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
| Ally Bank vs Wells Fargo | 2.51% | $25 |
Compare Axos Bank's APY of 4.46% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Axos Bank vs American Express | 3.50% | $0 |
| Axos Bank vs Bank of America | 0.01% | $100 |
| Axos Bank vs Barclays | 4.10% | $0 |
| Axos Bank vs Capital One | 3.50% | $0 |
| Axos Bank vs Chase Bank | 0.01% | $0 |
| Axos Bank vs Chime | 3.75% | $0 |
| Axos Bank vs CIT Bank | 4.00% | $100 |
| Axos Bank vs Discover Bank | 3.50% | $0 |
| Axos Bank vs Fitness Bank | 4.85% | $100 |
| Axos Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Axos Bank vs Presidential Bank | 4.50% | $5,000 |
| Axos Bank vs SoFi Bank | 3.80% | $0 |
| Axos Bank vs Synchrony Bank | 3.80% | $0 |
| Axos Bank vs Varo Bank | 5.00% | $0 |
| Axos Bank vs Wells Fargo | 2.51% | $25 |