Ally Bank vs. Charles Schwab Bank
Comparing Ally Bank and Charles Schwab Bank for savings: Ally Bank's Savings Account pays 3.30% APY while Charles Schwab Bank's Schwab Bank Investor Savings™ pays 0.15% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Ally Bank pays $315 more than Charles Schwab Bank annually ($330 vs $15).
Choose Ally Bank if getting the best rate matters most, or you're an Android user.
| Metric | Ally BankSavings Account Feb 6, 2026 | Charles Schwab BankSchwab Bank Investor Savings™ Feb 6, 2026 |
|---|---|---|
| APY | 3.30% | 0.15% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$8 $10,000+$15 $25,000+$38 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppIn-Person AccessZelle® SupportedDaily CompoundingStable Rate |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Ally Bank vs. Charles Schwab Bank
Executive Summary
Ally Bank offers a competitive Savings Account with an APY of 3.30%, making it a strong choice for savers looking for higher returns without any direct deposit requirements or maintenance fees. This account is online-only and has no minimum deposit or balance requirements. In contrast, Charles Schwab Bank's Schwab Bank Investor Savings™ provides a significantly lower APY of 0.15%, also with no minimum deposit but a minimum balance of $0.01. Given the substantial difference in APY, Ally Bank is the clear winner for those seeking better savings rates.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Ally Bank vs. Charles Schwab Bank Savings Calculator
You earn $315 more with Ally Bank than Charles Schwab 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
Charles Schwab Bank
Schwab Bank Investor Savings™
Savings Breakdown
- Interest Earned+$15.00(0.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,015.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ally Bank | Charles Schwab Bank |
|---|---|---|
| APY | 3.30% Verified: 2/6/2026 Stable (90d) | 0.15% Verified: 2/6/2026 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 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | N/A | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $5,000/dayBenchmark for online Zelle; high limits. | Available Integrated into Investor Checking; high liquidity. |
| BBB Rating | A+ | A+ |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at Charles Schwab Bank Non-sponsored link to official site |
📈 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) | -4.0 | 0.0 |
Days Since Change | 98 | 365 |
12-Month High | 3.80% | 0.15% |
12-Month Low | 3.30% | 0.15% |
Adjustments / Mo | 0.41 | 0.00 |
Volatility Score | 0.042 | 0.000 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Ally Bank's APY of 3.30% with other banks
Compare Charles Schwab Bank's APY of 0.15% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Charles Schwab Bank vs American Express | 3.30% | $0 |
| Charles Schwab Bank vs Axos Bank | 4.21% | $0 |
| Charles Schwab Bank vs Bank of America | 0.01% | $100 |
| Charles Schwab Bank vs Barclays | 4.00% | $0 |
| Charles Schwab Bank vs Capital One | 3.30% | $0 |
| Charles Schwab Bank vs Chase Bank | 0.01% | $0 |
| Charles Schwab Bank vs Chime | 3.00% | $0 |
| Charles Schwab Bank vs CIT Bank | 3.75% | $100 |
| Charles Schwab Bank vs Citibank | 3.20% | $0 |
| Charles Schwab Bank vs Discover Bank | 3.30% | $0 |
| Charles Schwab Bank vs EverBank | 3.90% | $0 |
| Charles Schwab Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Charles Schwab Bank vs Newtek Bank | 4.20% | $0.01 |
| Charles Schwab Bank vs Openbank | 4.09% | $500 |
| Charles Schwab Bank vs Pibank | 4.60% | $0 |
| Charles Schwab Bank vs SoFi Bank | 4.00% | $0 |
| Charles Schwab Bank vs Synchrony Bank | 3.50% | $0 |
| Charles Schwab Bank vs Varo Bank | 5.00% | $0 |
| Charles Schwab Bank vs Wealthfront | 3.95% | $0 |
| Charles Schwab Bank vs Wells Fargo | 0.05% | $25 |