Ally Bank vs. BMO Alto
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ally BankSavings Account Jan 12, 2026 | BMO AltoSavings Account Jan 12, 2026 |
|---|---|---|
| APY | 3.30% | 3.25% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$163 $10,000+$325 $25,000+$813 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo Minimums |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
As of Ally Bank offers an APY of 3.30% for its Savings Account, with a minimum balance of $0, compared to BMO Alto's 3.25% APY for its Savings Account, with a minimum balance of $0.
Ally Bank pays $5 more than BMO Alto on a $10,000 balance after one year. Ally Bank pays $330, while BMO Alto pays $325 - an APY advantage for Ally Bank.
Why Ally Bank?
- ✓Higher rated iOS app (4.7 vs 0.0)
- ✓Higher rated Android app (4.4 vs 0.0)
- ✓Fast transfers via Zelle® (up to $5,000 a day)
Why BMO Alto?
No distinct advantages found vs Ally Bank.
— Key Feature Differences —
Best Mobile App Experience
Ally BankAlly Bank offers an iOS app rated 4.7 (vs. 0.0) and Android app rated 4.4 (vs. 0.0)
Shared Benefits
Over a 1-year period, Ally Bank's Savings Account pays $5 more interest on a $10,000 balance than BMO Alto's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Ally Bank offers a competitive Savings Account with an APY of 3.30%, making it the top choice compared to BMO Alto's Savings Account, which has an APY of 3.25%. Both accounts require no minimum deposit or balance and do not charge maintenance fees, and they are both online-only, ensuring easy access to funds. Notably, Ally Bank is recognized for its superior mobile app experience, rated 4.7 for iOS and 4.4 for Android. Overall, while both accounts provide attractive rates, Ally Bank leads slightly with its higher APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
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Ally Bank vs. BMO Alto Savings Calculator
You earn $5 more with Ally Bank than BMO Alto on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
BMO Alto
Savings Account
Savings Breakdown
- Interest Earned+$325.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,325.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ally Bank | BMO Alto |
|---|---|---|
| APY | 3.30% Verified: 1/12/2026 ↘︎ 0.10%90d Change | 3.25% Verified: 1/12/2026 Stable (90d) |
| Product Name | Savings Account | 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 | iOS- Android- |
| Zelle® Support | Available Limit: $5,000/dayBenchmark for online Zelle; high limits. | Not Supported |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at BMO Alto Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | BMO Alto |
|---|---|---|
| Savings Account | Savings Account | |
Current APY | 3.30% | 3.25% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | -6.3 |
Days Since Change | 73 | 115 |
11-Month High | 3.80% | 4.10% |
11-Month Low | 3.30% | 3.25% |
Adjustments / Mo | 0.43 | 0.43 |
Volatility Score | 0.043 | 0.067 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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