Ally Bank vs. Discover Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ally BankSavings Account Jan 21, 2026 | Discover BankOnline Savings Account Jan 16, 2026 |
|---|---|---|
| APY | 3.30% | 3.30% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$165 $10,000+$330 $25,000+$825 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | Discover Bank is part of Capital One and this account is not open to new customers. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Ally Bank vs. Discover Bank
As of both Ally Bank (Savings Account) and Discover Bank (Online Savings Account) offer an APY of 3.30% .
Both banks yield $330 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.
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 —
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
Executive Summary as of
Both Ally Bank and Discover Bank offer competitive online savings accounts with an APY of 3.30%. However, Discover Bank's account is currently not open to new customers, making Ally Bank the more accessible option for new savers. Ally Bank's savings account has no minimum deposit or maintenance fees and compounds interest daily. Additionally, Discover Bank is noted for its superior mobile app experience, with higher ratings on both iOS and Android platforms. Overall, for new customers seeking an online savings account, Ally Bank is the recommended choice.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Ally Bank vs. Discover Bank Savings Calculator
Both accounts earn exactly the same amount.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Discover Bank
Online Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ally Bank | Discover Bank |
|---|---|---|
| APY | 3.30% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 3.30% Verified: 1/16/2026 ↘︎ 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 |
| Zelle® Support | Available Limit: $5,000/dayBenchmark for online Zelle; high limits. | Available Limit: $600/dayStrict 90-day seasoning period for new accounts. |
| BBB Rating | A+ | A+ |
| Important Notes | - | Discover Bank is part of Capital One and this account is not open to new customers. |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at Discover Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Discover Bank |
|---|---|---|
| Savings Account | Online Savings Account | |
Current APY | 3.30% | 3.30% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.1 | -3.5 |
Days Since Change | 82 | 13 |
12-Month High | 3.80% | 3.75% |
12-Month Low | 3.30% | 3.30% |
Adjustments / Mo | 0.42 | 0.42 |
Volatility Score | 0.043 | 0.036 |
How to read these metrics(Click to expand)
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