Ally Bank vs Chime
High-Yield Savings Accounts Comparison

Last Updated: June 20, 2025

Summary of Ally Bank vs. Chime

As of June 20, 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%, down from 3.60% last month.
  • Ally Bank has an A+ BBB rating, indicating higher trustworthiness.
  • No direct deposit requirement for Ally Bank's Savings Account.

Potential Drawbacks

  • Ally Bank's App Store rating is 4.7, lower than Chime's 4.8.
  • Ally Bank's Google Play rating is 4.4, below Chime's 4.7.

Chime

Strengths

  • Chime offers a higher APY of 3.75%, unchanged from last month.
  • Chime has a 4.8 App Store rating, higher than Ally Bank's 4.7.
  • Chime's Google Play rating is 4.7, better than Ally Bank's 4.4.

Potential Drawbacks

  • Chime requires a direct deposit to achieve the 3.75% APY.
  • Chime has a lower BBB rating of B-, indicating less trustworthiness.
Summary: Chime offers a higher APY of 3.75% compared to Ally Bank's 3.50%, but requires a direct deposit. Ally Bank boasts a stronger BBB rating of A+, while Chime has better App Store and Google Play ratings. Users may prefer Ally for flexibility, while Chime provides a higher yield but with conditions.

Compare Ally Bank's vs Chime's Savings Accounts

Ally BankChime
ProductSavings AccountvsChime Savings Account
APY
3.50% (as of 6/20/2025)1.25% - 3.75% (as of 6/20/2025)
Bundled Account
NoYes
FDIC-insured
YesYes
Online OnlyYesYes
Compound Frequency
DailyDaily
Minimum Deposit$0$0
Minimum Balance for APY$0$0.01
Maintenance Fee$0$0
Direct Deposit Required
NoYes. You need to receive a qualifying direct deposit of $200 or more within the preceding 34 days
NoteN/AChime® 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 BankSavings AccountChime Savings Account
App Store Rating4.7/54.8/5
Google Play Rating4.4/54.7/5
BBB RatingA+B-

Comparative Historical APY Insights (Last 5 Months)

Ally BankChime
ProductSavings AccountvsChime Savings Account
Latest APY3.50 %3.75 %
TrendSidewaysRising
Slope (bps/mo)-4.653.6
Rate Changes / Mo0.630.21
Days Since Last Change382
High (-5 m)3.80 %3.75 %
Low (-5 m)3.50 %2.00 %
Draw-down from High-7.9 %0.0 %
Volatility (CV)0.0200.286
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 142 days.
Low (-5 m)
Lowest APY in the last 142 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 Details

Chime

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 Details

After 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
Compare Chime's APY of 3.75% with other banks