Ally Bank vs. Citibank
Ally Bank and Citibank both offer 3.20% APY on their high-yield savings accounts. With identical rates, your choice comes down to other factors like mobile app quality, branch access, or customer service reputation.
The Bottom Line
The Ally Bank and Citibank savings accounts are very similar. Choose Ally Bank if BBB rating matters to you.
Important Considerations
Citibank's Accelerate Savings is only available in select states where Citi has no branch presence. Check eligibility before applying.
| Metric | Ally BankSavings Account Feb 21, 2026 | CitibankCiti Accelerate Savings Feb 21, 2026 |
|---|---|---|
| APY | 3.20% | 3.20% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$160 $10,000+$320 $25,000+$800 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Eligibility restricted to select states. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often |
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.
Executive Summary
Ally Bank and Citibank both offer competitive savings accounts with an APY of 3.20%. Ally Bank's Savings Account is online-only, requires no minimum deposit or balance, and has no maintenance fees, making it a straightforward option for savers. Citibank's top product, the Citi Accelerate Savings, shares the same APY but is restricted to select states, which may limit accessibility for some customers. Citibank also offers a lower-yielding Citi® Savings Account with an APY of 0.03%. Both banks provide daily compounding and FDIC insurance, ensuring safety for deposits.
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?
- ✓Available Nationwide
Why Citibank?
- ✓Physical branch access (U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.)
- ✓Higher rated Android app (4.8 vs 4.4)
— Key Feature Differences —
Best Mobile App Experience
CitibankCitibank offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 4.4)
Shared Benefits
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Ally Bank vs. Citibank Savings Calculator
Both accounts earn exactly the same amount.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still banking with Chase, Bank of America, or Wells Fargo?
On a $10,000 balance, you're missing out on at least $319 per year in interest.
Both Ally Bank and Citibank dramatically outperform the typical 0.01% APY at traditional big banks.
| Feature | Ally Bank | Citibank |
|---|---|---|
| APY | 3.20% Verified: 2/21/2026 ↘︎ 0.10%90d Change | 3.20% Verified: 2/21/2026 ↘︎ 0.10%90d Change |
| Product Name | Savings Account | Citi Accelerate Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0.01 |
| Monthly Fee | $0 | $4.50. Waived for average monthly balances > $500 |
| Compound Frequency | Daily | Daily |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Physical Branches | N/A | U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. |
| 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 Limit: $2,500/dayTiered limits based on account status (Citigold higher). |
| BBB Rating | A+ | D- |
| Important Notes | - | Eligibility restricted to select states. |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at Citibank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Citibank | |
|---|---|---|---|
| Savings Account | Citi® Savings Account | Citi Accelerate Savings | |
Current APY | 3.20% | 0.03% | 3.20% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | -3.8 | -0.0 | -4.7 |
Days Since Change | 1 | 365 | 25 |
12-Month High | 3.70% | 0.03% | 3.80% |
12-Month Low | 3.20% | 0.03% | 3.20% |
Adjustments / Mo | 0.41 | 0.00 | 0.58 |
Volatility Score | 0.041 | 0.000 | 0.049 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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