Ally Bank vs. Chime
High-Yield Savings Account Comparison
Last Updated: October 14, 2025
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Summary of Ally Bank vs. Chime
Key Metrics at a Glance
| Feature | Ally Bank | Chime |
|---|---|---|
| Top Savings APY | 3.40% Savings Account | 3.75% Chime Savings Account |
| Minimum to Open | $0 | $0 |
| Minimum Balance for APY | $0 | $0.01 |
Ally Bank
Strengths
- Ally Bank offers a competitive APY of 3.40%, although it decreased from 3.50% last month.
- Ally Bank has an A+ BBB rating, indicating strong trustworthiness.
- No direct deposit requirement for Ally Bank's savings account allows easier access.
Potential Drawbacks
- Ally Bank's app ratings are lower than Chime's, with 4.7 on App Store and 4.3 on Google Play.
Chime
Strengths
- Chime offers a higher APY of 3.75%, stable over the last month.
- Chime has superior app ratings, with 4.8 on App Store and 4.7 on Google Play.
- Chime's direct deposit requirement ensures a minimum APY of 3.75%.
Potential Drawbacks
- Chime's APY drops to 1.25% without a qualifying direct deposit.
- Chime has a lower BBB rating of A-, indicating slightly less trustworthiness.
Summary: Ally Bank provides a lower APY of 3.40% compared to Chime's 3.75%, but has no direct deposit requirement, making it more accessible. Chime offers better app ratings but has a direct deposit requirement to achieve its higher APY. Additionally, Ally Bank's A+ BBB rating surpasses Chime's A- rating, reflecting greater trustworthiness.
→ As of October 14, 2025 Ally Bank offers an APY of 3.40% for its Savings Account, with a minimum balance of $0, compared to Chime's 3.75% APY for its Chime Savings Account, with a minimum balance of $0.01.
→ Chime yields $35 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $340, while Chime pays $375 - an APY advantage for Chime.
Calculate Savings Growth for Ally Bank vs Chime
All calculations are based on APY.
Ally Bank
APY: 3.40%
Total savings breakdown:
- Interest earned: $2,050.5 (10.23%)
- Total contributions: $13,000 (64.84%)
- Initial deposit: $5,000 (24.94%)
Your total balance
$20,050.50
Effective APY: 3.40% (based on your deposit and contributions)
Total balance: $20,050.5
Earnings: $2,050.5
Bank OverviewChime
APY: 3.75%
Total savings breakdown:
- Interest earned: $2,273.8 (11.22%)
- Total contributions: $13,000 (64.12%)
- Initial deposit: $5,000 (24.66%)
Your total balance
$20,273.80
Effective APY: 3.75% (based on your deposit and contributions)
Total balance: $20,273.8
Earnings: $2,273.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Ally Bank's total earnings would be $223.3 lower than Chime's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Ally Bank's vs Chime's Savings Accounts
| Ally Bank | Chime | ||
|---|---|---|---|
| Product | Savings Account | vs | Chime Savings Account |
| APY | 3.40% (as of 10/14/2025) | 1.25% - 3.75% (as of 10/14/2025) | |
| Bundled Account | No | Yes | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0.01 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | Yes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days | |
| Note | Chime® is a financial technology company, not a bank. Banking services provided by The Bancorp Bank, N.A. or Stride Bank, N.A., Members FDIC. To open a savings account you must first open a checking account. To qualify for Chime+ with the 3.75% APY, you must have a Chime Checking account and receive a direct deposit of at least $200. Otherwise, the APY is 1.25%. | ||
| App Store Rating | 4.7/5 | 4.8/5 | |
| Google Play Rating | 4.3/5 | 4.7/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 8 Months)
| Ally Bank | Chime | ||
|---|---|---|---|
| Product | Savings Account | vs | Chime Savings Account |
| Latest APY | 3.40 % | 3.75 % | |
| Trend | Sideways | Rising | |
| Slope (bps/mo) | -3.8 | 21.8 | |
| Rate Changes / Mo | 0.47 | 0.12 | |
| Days Since Last Change | 19 | 197 | |
| High (-8 m) | 3.80 % | 3.75 % | |
| Low (-8 m) | 3.40 % | 2.00 % | |
| Draw-down from High | -10.5 % | 0.0 % | |
| Volatility (CV) | 0.028 | 0.222 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 8 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 (-8 m)
- Highest APY in the last 258 days.
- Low (-8 m)
- Lowest APY in the last 258 days.
- Draw-down from High
- How far today sits below the 8-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.
More Comparisons
Compare Ally Bank's APY of 3.40% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Ally Bank vs American Express | 3.50% | $0 |
| Ally Bank vs Axos Bank | 4.51% | $0 |
| Ally Bank vs Bank of America | 0.01% | $100 |
| Ally Bank vs Barclays | 4.10% | $0 |
| Ally Bank vs BrioDirect | 4.20% | $5,000 |
| Ally Bank vs Capital One | 3.40% | $0 |
| Ally Bank vs Chase Bank | 0.01% | $0 |
| Ally Bank vs CIT Bank | 3.85% | $100 |
| Ally Bank vs Discover Bank | 3.40% | $0 |
| Ally Bank vs Elevault | 4.34% | $0 |
| Ally Bank vs EverBank | 4.05% | $0 |
| Ally Bank vs Fitness Bank | 4.75% | $100 |
| Ally Bank vs FVCbank | 4.10% | $500 |
| Ally Bank vs GO2bank | 4.50% | $0 |
| Ally Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ally Bank vs Neighbors Bank | 4.50% | $0 |
| Ally Bank vs Newtek Bank | 4.35% | $0 |
| Ally Bank vs Peak Bank | 4.20% | $100 |
| Ally Bank vs Pibank | 4.60% | $0 |
| Ally Bank vs Presidential Bank | 4.50% | $5,000 |
| Ally Bank vs Santander Bank | 0.01% | $25 |
| Ally Bank vs SoFi Bank | 4.50% | $0 |
| Ally Bank vs Synchrony Bank | 3.80% | $0 |
| Ally Bank vs TIMBR | 4.40% | $1,000 |
| Ally Bank vs UFB Direct | 3.96% | $5000 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
| Ally Bank vs Wells Fargo | 0.05% | $25 |
| Ally Bank vs Zynlo Bank | 4.20% | $10 |
Compare Chime's APY of 3.75% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Chime vs American Express | 3.50% | $0 |
| Chime vs Axos Bank | 4.51% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs BrioDirect | 4.20% | $5,000 |
| Chime vs Capital One | 3.40% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 3.85% | $100 |
| Chime vs Discover Bank | 3.40% | $0 |
| Chime vs Elevault | 4.34% | $0 |
| Chime vs EverBank | 4.05% | $0 |
| Chime vs Fitness Bank | 4.75% | $100 |
| Chime vs FVCbank | 4.10% | $500 |
| Chime vs GO2bank | 4.50% | $0 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs Neighbors Bank | 4.50% | $0 |
| Chime vs Newtek Bank | 4.35% | $0 |
| Chime vs Peak Bank | 4.20% | $100 |
| Chime vs Pibank | 4.60% | $0 |
| Chime vs Presidential Bank | 4.50% | $5,000 |
| Chime vs Santander Bank | 0.01% | $25 |
| Chime vs SoFi Bank | 4.50% | $0 |
| Chime vs Synchrony Bank | 3.80% | $0 |
| Chime vs TIMBR | 4.40% | $1,000 |
| Chime vs UFB Direct | 3.96% | $5000 |
| Chime vs Varo Bank | 5.00% | $0 |
| Chime vs Wells Fargo | 0.05% | $25 |
| Chime vs Zynlo Bank | 4.20% | $10 |