Ally Bank vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Ally Bank
Savings Account
3.30%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Ally Bank
Savings Account
Discover Bank
Online Savings Account
3.40%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Discover Bank
Online Savings Account
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Comparison Analysis
Comparing Ally Bank vs. Discover Bank
Why Ally Bank?
No distinct advantages found vs Discover Bank.
Why Discover Bank?
- ✓Higher rated Android app (4.8 vs 4.4)
— Key Feature Differences —
Better Returns at $10,000
Discover BankDiscover Bank's Online Savings Account earns more on smaller deposits (approx. $340 vs $330/yr).
Best Mobile App Experience
Discover BankDiscover Bank offers an iOS app rated 4.9 (vs. 4.7) and Android app rated 4.8 (vs. 4.4)
Shared Benefits
Over a 1-year period, Discover Bank's Online Savings Account pays $10 more interest on a $10,000 balance than Ally Bank's Savings Account.
Executive Summary
Discover Bank's Online Savings Account offers a higher APY of 3.40% compared to Ally Bank's Savings Account, which has an APY of 3.30%. Both accounts require no minimum deposit or balance and have no maintenance fees, making them accessible options for savers. Additionally, Discover Bank's account is noted for providing better returns on smaller deposits and boasts a superior mobile app experience. Both accounts are online-only and do not require direct deposit, providing flexibility for account management.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both Ally Bank and Discover Bank.
| Feature | Ally Bank | Discover Bank |
|---|---|---|
| APY | 3.30% Verified: 12/6/2025 ↘︎ 0.20%90d Change | 3.40% Verified: 12/6/2025 ↘︎ 0.10%90d Change |
| Product Name | Savings Account | Online Savings Account |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Branch Access | None | None |
| Account Type | Online Only | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.7 Android4.4 | iOS4.9 Android4.8 |
| BBB Rating | A+ | A+ |
| Next Steps |
Savings Comparison
Discover Bank earns $63.4 more than Ally Bank.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$1,987.10(9.9%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,987.10
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$2,050.50(10.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,050.50
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Discover Bank |
|---|---|---|
| Savings Account | Online Savings Account | |
Current APY | 3.30% | 3.40% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.3 | -3.8 |
Days Since Change | 36 | 67 |
10-Month High | 3.80% | 3.75% |
10-Month Low | 3.30% | 3.40% |
Adjustments / Mo | 0.48 | 0.38 |
Volatility Score | 0.039 | 0.034 |
How to read these metrics(Click to expand)
Compare Similar High-Yield Accounts
Compare Ally Bank vs...
Comparing against Standard Savings
Compare Discover Bank vs...
Comparing against Standard Savings
Higher Rates (With Checking)
Looking for something different? Check out these top-rated alternatives.