Ally Bank vs. Carver Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ally BankSavings Account Jan 7, 2026 | Carver BankHigh Yield Savings Jan 7, 2026 |
|---|---|---|
| APY | 3.30% | 4.00% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$200 $10,000+$400 $25,000+$1,000 |
Min Deposit | $0 | $5,000 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredMod. MinimumGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.21% APY.
Comparison Analysis
Comparing Ally Bank vs. Carver Bank
As of Ally Bank offers an APY of 3.30% for its Savings Account, with a minimum balance of $0, compared to Carver Bank's 4.00% APY for its High Yield Savings account, with a minimum balance of $5,000.
Carver Bank pays $70 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $330, while Carver Bank pays $400 - an APY advantage for Carver Bank.
Why Ally Bank?
No distinct advantages found vs Carver Bank.
Why Carver Bank?
- ✓Higher potential APY (4.00% vs 3.30%)
— Key Feature Differences —
Better Returns at $10,000
Carver BankCarver Bank's High Yield Savings earns more on smaller deposits (approx. $400 vs $330/yr).
Better Returns at $25,000
Carver BankCarver Bank's High Yield Savings pulls ahead with larger amounts (approx. $1000 vs $825/yr).
Best for Simplicity
Carver BankCarver Bank's High Yield Savings offers 4.00% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Carver Bank's High Yield Savings pays $70 more interest on a $10,000 balance than Ally Bank's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Carver Bank offers a High Yield Savings account with a competitive APY of 4.00%, making it the winner in this comparison. This account requires a minimum deposit and balance of $5,000, but it provides better returns than Ally Bank's Savings Account, which has an APY of 3.30%. Both accounts feature daily compounding and no maintenance fees, with Ally Bank's account being online-only and requiring no minimum deposit. Carver Bank's product is noted for its simplicity, as it does not require direct deposit or bundling, making it a straightforward choice for savers.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Ally Bank vs. Carver Bank Savings Calculator
You earn $70 more with Carver Bank than Ally Bank 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
Carver Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$400.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,400.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ally Bank | Carver Bank |
|---|---|---|
| APY | 3.30% Verified: 1/7/2026 ↘︎ 0.10%90d Change | 4.00% Verified: 1/7/2026 Stable (90d) |
| Product Name | Savings Account | High Yield Savings |
| Minimum Deposit | $0 | $5,000 |
| Min. Balance for APY | $0 | $5,000 |
| Monthly Fee | $0 | $0, of minimum balance requirement met. Otherwise $6. |
| 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 | iOS4.7 Android4.5 |
| Zelle® Support | Available Limit: $5,000/dayBenchmark for online Zelle; high limits. | Available Full native integration in digital banking. |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at Carver Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Carver Bank |
|---|---|---|
| Savings Account | High Yield Savings | |
Current APY | 3.30% | 4.00% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | -1.0 |
Days Since Change | 68 | 309 |
11-Month High | 3.80% | 4.25% |
11-Month Low | 3.30% | 4.00% |
Adjustments / Mo | 0.44 | 0.09 |
Volatility Score | 0.042 | 0.017 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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