Ally Bank vs Chime
High-Yield Savings Accounts Comparison
Last Updated: July 15, 2025
Summary of Ally Bank vs. Chime
As of July 15, 2025 Ally Bank offers an APY of 3.50% for its Savings Account account, compared to Chime's 3.75% APY for its Chime Savings Account account.
Chime yields $25 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $350, while Chime pays $375 - an APY advantage for Chime.
Ally Bank
Strengths
- Ally Bank offers a competitive APY of 3.50% with no direct deposit requirement.
- Ally Bank has a strong BBB rating of A+.
- No maintenance fees or minimum balance required at Ally Bank.
Potential Drawbacks
- Ally Bank's APY decreased from 3.60% over the last 30 days.
Chime
Strengths
- Chime offers a higher APY of 3.75%, unchanged over the last 30 days.
- Chime has an excellent App Store rating of 4.8.
- Chime's Google Play rating is also high at 4.7.
Potential Drawbacks
- Chime requires a direct deposit of $200 to qualify for the 3.75% APY.
- Chime has a lower BBB rating of B-.
Summary: Ally Bank provides a solid APY of 3.50% without direct deposit requirements, while Chime offers a higher APY of 3.75% but mandates a qualifying direct deposit. Ally Bank boasts a superior BBB rating of A+, whereas Chime's rating is B-. Both banks have no maintenance fees, but Chime's higher App Store and Google Play ratings reflect better customer satisfaction.
Compare Ally Bank's vs Chime's Savings Accounts
| Ally Bank | Chime | ||
|---|---|---|---|
| Product | Savings Account | vs | Chime Savings Account |
| APY | 3.50% (as of 7/15/2025) | 1.25% - 3.75% (as of 7/15/2025) | |
| 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 | N/A | 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%. | |
| Visit Bank | Savings Account | Chime Savings Account | |
| App Store Rating | 4.7/5 | 4.8/5 | |
| Google Play Rating | 4.4/5 | 4.7/5 | |
| BBB Rating | A+ | B- |
Comparative Historical APY Insights (Last 5 Months)
| Ally Bank | Chime | ||
|---|---|---|---|
| Product | Savings Account | vs | Chime Savings Account |
| Latest APY | 3.50 % | 3.75 % | |
| Trend | Sideways | Rising | |
| Slope (bps/mo) | -4.9 | 43.2 | |
| Rate Changes / Mo | 0.54 | 0.18 | |
| Days Since Last Change | 27 | 106 | |
| High (-5 m) | 3.80 % | 3.75 % | |
| Low (-5 m) | 3.50 % | 2.00 % | |
| Draw-down from High | -7.9 % | 0.0 % | |
| Volatility (CV) | 0.023 | 0.268 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 166 days.
- Low (-5 m)
- Lowest APY in the last 166 days.
- Draw-down from High
- How far today sits below the 5-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 Chime
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 DetailsChime
APY: 3.75%
Total savings breakdown:
- Interest earned: $37.5 (3.61%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.39%)
Your total balance
$1,037.50
Effective APY: 3.75% (based on your deposit and contributions)
Total balance: $1,037.5
Earnings: $37.5
Bank DetailsAfter 1 year Ally Bank would earn you $2.5 less than Chime.
More Comparisons
Compare Ally Bank's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Ally Bank vs American Express | 3.60% | $0 |
| Ally Bank vs Axos Bank | 4.66% | $0 |
| Ally Bank vs Bank of America | 0.01% | $100 |
| Ally Bank vs Barclays | 4.10% | $0 |
| Ally Bank vs Capital One | 3.50% | $0 |
| Ally Bank vs Chase Bank | 0.01% | $0 |
| Ally Bank vs CIT Bank | 4.00% | $100 |
| Ally Bank vs Discover Bank | 3.50% | $0 |
| Ally Bank vs Fitness Bank | 5.00% | $100 |
| Ally Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ally Bank vs Presidential Bank | 4.50% | $5,000 |
| Ally Bank vs SoFi Bank | 3.80% | $0 |
| Ally Bank vs Synchrony Bank | 3.80% | $0 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
| Ally Bank vs Wells Fargo | 2.51% | $25 |
Compare Chime's APY of 3.75% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Chime vs American Express | 3.60% | $0 |
| Chime vs Axos Bank | 4.66% | $0 |
| Chime vs Bank of America | 0.01% | $100 |
| Chime vs Barclays | 4.10% | $0 |
| Chime vs Capital One | 3.50% | $0 |
| Chime vs Chase Bank | 0.01% | $0 |
| Chime vs CIT Bank | 4.00% | $100 |
| Chime vs Discover Bank | 3.50% | $0 |
| Chime vs Fitness Bank | 5.00% | $100 |
| Chime vs Marcus by Goldman Sachs | 3.65% | $0 |
| Chime vs Presidential Bank | 4.50% | $5,000 |
| Chime vs SoFi Bank | 3.80% | $0 |
| Chime vs Synchrony Bank | 3.80% | $0 |
| Chime vs Varo Bank | 5.00% | $0 |
| Chime vs Wells Fargo | 2.51% | $25 |