Ally Bank vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: June 20, 2025
Summary of Ally Bank vs. Synchrony Bank
As of June 20, 2025 Ally Bank offers an APY of 3.50% for its Savings Account account, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account.
Synchrony Bank yields $30 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $350, while Synchrony Bank pays $380 - an APY advantage for Synchrony Bank.
Ally Bank
Strengths
- Ally Bank has a strong BBB rating of A+.
- No maintenance fees with Ally Bank's Savings Account.
- Ally Bank offers a $0 minimum deposit requirement.
Potential Drawbacks
- Ally Bank's current APY is lower than 30 days ago at 3.50%.
- Ally Bank has fewer app ratings with 4.7 on App Store.
Synchrony Bank
Strengths
- Synchrony Bank's current APY is higher at 3.80%.
- Synchrony Bank has a higher App Store rating of 4.8.
Potential Drawbacks
- Synchrony Bank has no BBB rating.
- Synchrony Bank's APY decreased from 4.00% in the last 30 days.
Summary: Ally Bank offers a solid A+ BBB rating and a competitive APY of 3.50%, though it has seen a decrease recently. In contrast, Synchrony Bank provides a higher APY of 3.80% but lacks a BBB rating. Both banks have no maintenance fees and require no minimum deposits, making them accessible options for savers.
Compare Ally Bank's vs Synchrony Bank's Savings Accounts
| Ally Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Savings Account | vs | High Yield Savings |
| APY | 3.50% (as of 6/20/2025) | 3.80% (as of 6/20/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | Yes | Yes | |
| Compound Frequency | Daily | Daily | |
| Minimum Deposit | $0 | $0 | |
| Minimum Balance for APY | $0 | $0 | |
| Maintenance Fee | $0 | $0 | |
| Direct Deposit Required | No | No | |
| Visit Bank | Savings Account | High Yield Savings | |
| App Store Rating | 4.7/5 | 4.8/5 | |
| Google Play Rating | 4.4/5 | 4.6/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 5 Months)
| Ally Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Savings Account | vs | High Yield Savings |
| Latest APY | 3.50 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.7 | -3.5 | |
| Rate Changes / Mo | 0.63 | 0.42 | |
| Days Since Last Change | 3 | 18 | |
| High (-5 m) | 3.80 % | 4.10 % | |
| Low (-5 m) | 3.50 % | 3.80 % | |
| Draw-down from High | -7.9 % | -7.3 % | |
| Volatility (CV) | 0.020 | 0.019 |
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 144 days.
- Low (-5 m)
- Lowest APY in the last 144 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 Synchrony Bank
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 DetailsSynchrony Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $38 (3.66%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (96.34%)
Your total balance
$1,038.00
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $1,038
Earnings: $38
Bank DetailsAfter 1 year Ally Bank would earn you $3 less than Synchrony Bank.
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 | 3.60% | $0 |
| Ally Bank vs Chase Bank | 0.01% | $0 |
| Ally Bank vs Chime | 3.75% | $0 |
| Ally Bank vs CIT Bank | 4.00% | $100 |
| Ally Bank vs Discover Bank | 3.60% | $0 |
| Ally Bank vs Fitness Bank | 5.00% | $100 |
| Ally Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ally Bank vs SoFi Bank | 3.80% | $0 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
Compare Synchrony Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Synchrony Bank vs American Express | 3.60% | $0 |
| Synchrony Bank vs Axos Bank | 4.66% | $0 |
| Synchrony Bank vs Bank of America | 0.01% | $100 |
| Synchrony Bank vs Barclays | 4.10% | $0 |
| Synchrony Bank vs Capital One | 3.60% | $0 |
| Synchrony Bank vs Chase Bank | 0.01% | $0 |
| Synchrony Bank vs Chime | 3.75% | $0 |
| Synchrony Bank vs CIT Bank | 4.00% | $100 |
| Synchrony Bank vs Discover Bank | 3.60% | $0 |
| Synchrony Bank vs Fitness Bank | 5.00% | $100 |
| Synchrony Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Synchrony Bank vs SoFi Bank | 3.80% | $0 |
| Synchrony Bank vs Varo Bank | 5.00% | $0 |