Ally Bank vs Axos Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Ally Bank vs. Axos Bank

As of July 15, 2025 Ally Bank offers an APY of 3.50% for its Savings Account account, compared to Axos Bank's 4.66% APY for its Axos ONE account.

Axos Bank yields $116 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $350, while Axos Bank pays $466 - 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%, though it decreased from 3.60% last month.
  • Ally Bank has no minimum deposit or balance requirements.
  • Ally Bank has an A+ BBB rating.

Potential Drawbacks

  • Ally Bank's APY is lower than Axos Bank's highest APY of 4.66%.
  • Ally Bank has no branch locations.

Axos Bank

Strengths

  • Axos Bank's highest APY is 4.66%, unchanged from last month.
  • Axos Bank offers multiple savings account options with varying APYs.
  • Axos Bank is BBB Accredited with an A+ rating.

Potential Drawbacks

  • Axos Bank requires direct deposit or qualifying deposits to earn the highest APY.
  • Axos Bank has no branch locations.
Summary: Ally Bank offers a 3.50% APY on its savings account, which has decreased recently, while Axos Bank provides a higher APY of 4.66% with specific deposit requirements. Both banks have no minimum balance or deposit requirements, and both hold an A+ BBB rating, with Axos Bank also being BBB Accredited. However, neither bank has physical branches.

Compare Ally Bank's vs Axos Bank's Savings Accounts

Ally BankAxos Bank
ProductSavings AccountvsAxos ONESummit SavingsHigh Yield Savings
APY
3.50% (as of 7/15/2025)4.66% (as of 7/15/2025)4.00% (as of 7/15/2025)0.61% (as of 7/15/2025)
Bundled Account
NoYesNoNo
FDIC-insured
YesYesYesYes
Online OnlyYesYesYesYes
Compound Frequency
DailyDailyDailyDaily
Minimum Deposit$0$0$0$0
Minimum Balance for APY$0$0$0$0
Maintenance Fee$0$0$0$0
Direct Deposit Required
NoNo. Not required, but is the easiest way to earn the highest APY.NoNo
NoteN/AThis 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.N/AN/A
Visit BankSavings AccountAxos ONESummit SavingsHigh Yield Savings
App Store Rating4.7/54.7/5
Google Play Rating4.4/54.4/5
BBB RatingA+A+

Comparative Historical APY Insights (Last 6 Months)

Ally BankAxos Bank
ProductSavings AccountvsHigh Yield SavingsSummit SavingsAxos ONE
Latest APY3.50 %0.61 %4.00 %4.66 %
TrendSidewaysSidewaysSidewaysSideways
Slope (bps/mo)-4.9-0.00.0-5.0
Rate Changes / Mo0.540.000.000.18
Days Since Last Change2716715105
High (-6 m)3.80 %0.61 %4.00 %4.86 %
Low (-6 m)3.50 %0.61 %4.00 %4.66 %
Draw-down from High-7.9 %0.0 %0.0 %-4.1 %
Volatility (CV)0.0240.0000.0000.020
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.

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: $35 (3.38%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.62%)

Your total balance

$1,035.00

Effective APY: 3.50% (based on your deposit and contributions)

Total balance: $1,035

Earnings: $35

Bank Details

Axos Bank

APY: 4.66%

Total savings breakdown:

  • Interest earned: $46.6 (4.45%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (95.55%)

Your total balance

$1,046.60

Effective APY: 4.66% (based on your deposit and contributions)

Total balance: $1,046.6

Earnings: $46.6

Bank Details

After 1 year Ally Bank would earn you $11.6 less than Axos Bank.

More Comparisons

Compare Ally Bank's APY of 3.50% with other banks
Compare Axos Bank's APY of 4.66% with other banks