Ally Bank vs Chase Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Ally Bank vs. Chase Bank

As of July 15, 2025 Ally Bank offers an APY of 3.50% for its Savings Account account, compared to Chase Bank's 0.01% APY for its Chase Savings℠ account.

Ally Bank yields $349 more than Chase Bank on a $10,000 balance after one year. Ally Bank pays $350, while Chase Bank pays $1 - an APY advantage for Ally Bank.

Ally Bank

Strengths

  • Ally Bank offers a competitive APY of 3.50%, down from 3.60% last month.
  • Ally Bank has no maintenance fees, making it cost-effective.
  • Ally Bank has a strong BBB rating of A+.

Potential Drawbacks

  • Ally Bank has no physical branches for in-person banking.
  • Ally Bank's App Store rating is slightly lower than Chase's.

Chase Bank

Strengths

  • Chase Bank has a higher App Store rating of 4.8 compared to Ally's 4.7.
  • Chase Bank offers a physical banking experience, unlike Ally.

Potential Drawbacks

  • Chase Bank's APY is significantly lower at 0.01%, unchanged from last month.
  • Chase Bank charges a maintenance fee of $5, which can be waived under conditions.
Summary: Ally Bank provides a much higher APY of 3.50% with no maintenance fees, while Chase Bank offers a lower APY of 0.01% and has a $5 maintenance fee. However, Chase has a slightly higher App Store rating and offers physical branches for in-person services. Ally's BBB rating is also superior at A+ compared to Chase's A-.

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

Ally BankChase Bank
ProductSavings AccountvsChase Savings℠
APY
3.50% (as of 7/15/2025)0.01% (as of 7/15/2025)
Bundled Account
NoNo
FDIC-insured
YesYes
Online OnlyYesNo
Compound Frequency
DailyMonthly
Minimum Deposit$0$0
Minimum Balance for APY$0$0
Maintenance Fee$0$5
Direct Deposit Required
NoNo
NoteN/AAPY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc.
Visit BankSavings AccountChase Savings℠
App Store Rating4.7/54.8/5
Google Play Rating4.4/54.5/5
BBB RatingA+A-

Comparative Historical APY Insights (Last 6 Months)

Ally BankChase Bank
ProductSavings AccountvsChase Savings℠
Latest APY3.50 %0.01 %
TrendSidewaysSideways
Slope (bps/mo)-4.90.0
Rate Changes / Mo0.540.00
Days Since Last Change28168
High (-6 m)3.80 %0.01 %
Low (-6 m)3.50 %0.01 %
Draw-down from High-7.9 %0.0 %
Volatility (CV)0.0240.000
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 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 (-6 m)
Highest APY in the last 168 days.
Low (-6 m)
Lowest APY in the last 168 days.
Draw-down from High
How far today sits below the 6-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 Chase 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

Chase Bank

APY: 0.01%

Total savings breakdown:

  • Interest earned: $0.1 (0.01%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (99.99%)

Your total balance

$1,000.10

Effective APY: 0.01% (based on your deposit and contributions)

Total balance: $1,000.1

Earnings: $0.1

Bank Details

After 1 year Ally Bank would earn you $34.9 more than Chase Bank.

More Comparisons

Compare Ally Bank's APY of 3.50% with other banks
Compare Chase Bank's APY of 0.01% with other banks