Ally Bank vs Axos Bank
High-Yield Savings Accounts Comparison

Last Updated: June 20, 2025

Summary of Ally Bank vs. Axos Bank

As of June 20, 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 0.61% APY for the High Yield Savings account.

Ally Bank

Strengths

  • Ally Bank offers a competitive APY of 3.50%, though it decreased from 3.60% last month.
  • No direct deposit requirement for the Savings Account.
  • Ally Bank has an A+ BBB rating.

Potential Drawbacks

  • Ally Bank's APY is lower than Axos Bank's 4.66% for its bundled account.
  • No physical branches available.

Axos Bank

Strengths

  • Axos Bank's APY is 4.66%, unchanged from last month, higher than Ally Bank's.
  • Axos Bank offers a High Yield Savings account with no minimum balance requirement.
  • Axos Bank is BBB Accredited with an A+ rating.

Potential Drawbacks

  • Axos Bank requires a minimum direct deposit of $1,500/month for its ONE Checking account to qualify for the APY.
  • No physical branches available.
Summary: Ally Bank provides a solid APY of 3.50% with no direct deposit requirement, while Axos Bank offers a higher 4.66% APY but requires a $1,500 monthly direct deposit for its ONE Checking account. Both banks have an A+ BBB rating, but only Axos Bank is BBB Accredited. Both banks operate online only with no physical branches.

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

Ally BankAxos Bank
ProductSavings AccountvsAxos ONEHigh Yield Savings
APY
3.50% (as of 6/20/2025)4.66% (as of 6/20/2025)0.61% (as of 6/20/2025)
Bundled Account
NoYesNo
FDIC-insured
YesYesYes
Online OnlyYesYesYes
Compound Frequency
DailyDailyDaily
Minimum Deposit$0$0$0
Minimum Balance for APY$0$0$0
Maintenance Fee$0$0$0
Direct Deposit Required
NoYes. Min. $1,500/month to ONE Checking.No
NoteN/AThis APY is only available in the Axos ONE savings and checking bundle. Must maintain $1,500 on avg. daily balance in ONE Checking for APY.N/A
Visit BankSavings AccountAxos ONEHigh Yield Savings
App Store Rating4.7/54.7/5
Google Play Rating4.4/54.4/5
BBB RatingA+A+

Comparative Historical APY Insights (Last 5 Months)

Ally BankAxos Bank
ProductSavings AccountvsHigh Yield SavingsAxos ONE
Latest APY3.50 %0.61 %4.66 %
TrendSidewaysSidewaysFalling
Slope (bps/mo)-4.70.0-6.1
Rate Changes / Mo0.630.000.21
Days Since Last Change314381
High (-5 m)3.80 %0.61 %4.86 %
Low (-5 m)3.50 %0.61 %4.66 %
Draw-down from High-7.9 %0.0 %-4.1 %
Volatility (CV)0.0200.0000.021
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 5 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 (-5 m)
Highest APY in the last 144 days.
Low (-5 m)
Lowest APY in the last 144 days.
Draw-down from High
How far today sits below the 5-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