Ally Bank vs. Charles Schwab Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Ally Bank
Savings Account
3.30%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Ally Bank
Savings Account
Charles Schwab Bank
Schwab Bank Investor Savings™
0.15%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessShow Fine Print & Trends Hide Details
Charles Schwab Bank
Schwab Bank Investor Savings™
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Ally Bank vs. Charles Schwab Bank Savings Calculator
Ally Bank earns $1,901 more than Charles Schwab Bank.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$1,987.10(9.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,987.10
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$86.10(0.5%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,086.10
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Ally Bank vs. Charles Schwab Bank
Why Ally Bank?
- ✓Higher potential APY (3.30% vs 0.15%) on all balances
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.4 vs 2.9)
Why Charles Schwab Bank?
No distinct advantages found vs Ally Bank.
— Key Feature Differences —
Better Returns at $10,000
Ally BankAlly Bank's Savings Account earns more on smaller deposits (approx. $330 vs $15/yr).
Better Returns at $25,000
Ally BankAlly Bank's Savings Account pulls ahead with larger amounts (approx. $825 vs $38/yr).
Best for Simplicity
Ally BankAlly Bank's Savings Account offers 3.30% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Ally Bank's Savings Account pays $315 more interest on a $10,000 balance than Charles Schwab Bank's Schwab Bank Investor Savings™.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary
Ally Bank offers a competitive Savings Account with an APY of 3.30%, making it a strong choice for savers seeking higher returns without any direct deposit requirements or maintenance fees. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ provides a significantly lower APY of 0.15%. Both accounts have no minimum deposit requirements, but Ally Bank's offering stands out for its simplicity and better returns, especially on larger deposits. Additionally, Ally Bank operates online only, while Charles Schwab Bank does not specify this.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both Ally Bank and Charles Schwab Bank.
| Feature | Ally Bank | Charles Schwab Bank |
|---|---|---|
| APY | 3.30% Verified: 12/10/2025 ↘︎ 0.20%90d Change | 0.15% Verified: 12/10/2025 Stable (90d) |
| Product Name | Savings Account | Schwab Bank Investor Savings™ |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.4 | iOS4.8 Android2.9 |
| BBB Rating | A+ | A+ |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Charles Schwab Bank |
|---|---|---|
| Savings Account | Schwab Bank Investor Savings™ | |
Current APY | 3.30% | 0.15% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.3 | -0.0 |
Days Since Change | 40 | 314 |
10-Month High | 3.80% | 0.15% |
10-Month Low | 3.30% | 0.15% |
Adjustments / Mo | 0.48 | 0.00 |
Volatility Score | 0.040 | 0.000 |
How to read these metrics(Click to expand)
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