Ally Bank vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Ally Bank vs. Synchrony Bank
As of August 29, 2025 Ally Bank offers an APY of 3.50% for its Savings 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 an A+ BBB rating, indicating strong trustworthiness.
- No maintenance fees for the Savings Account at Ally Bank.
- Ally Bank's App Store rating is 4.7.
Potential Drawbacks
- Ally Bank's APY is lower at 3.50% compared to Synchrony Bank.
- Ally Bank has no branches, limiting in-person service options.
- Ally Bank's Google Play rating is lower at 4.4.
Synchrony Bank
Strengths
- Synchrony Bank offers a higher APY of 3.80% for its High Yield Savings.
- Synchrony Bank has a higher App Store rating of 4.8.
- Synchrony Bank's Google Play rating is 4.5.
Potential Drawbacks
- Synchrony Bank is not rated by the BBB, indicating potential trust issues.
- Synchrony Bank has no branches, limiting in-person service options.
- No maintenance fees for the High Yield Savings account at Synchrony Bank.
Summary: Ally Bank offers a reliable A+ BBB rating but has a lower APY of 3.50%. In contrast, Synchrony Bank provides a higher APY of 3.80% but lacks a BBB rating. Both banks are online-only with no maintenance fees, but Synchrony Bank has slightly better app ratings. Neither bank offers branch access, which may limit customer service options.
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 8/29/2025) | 3.80% (as of 8/29/2025) | |
| 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 | |
| App Store Rating | 4.7/5 | 4.8/5 | |
| Google Play Rating | 4.4/5 | 4.5/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 7 Months)
| Ally Bank | Synchrony Bank | ||
|---|---|---|---|
| Product | Savings Account | vs | High Yield Savings |
| Latest APY | 3.50 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -4.2 | -4.3 | |
| Rate Changes / Mo | 0.42 | 0.28 | |
| Days Since Last Change | 73 | 88 | |
| High (-7 m) | 3.80 % | 4.10 % | |
| Low (-7 m) | 3.50 % | 3.80 % | |
| Draw-down from High | -7.9 % | -7.3 % | |
| Volatility (CV) | 0.026 | 0.026 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 214 days.
- Low (-7 m)
- Lowest APY in the last 214 days.
- Draw-down from High
- How far today sits below the 7-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: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Effective APY: 3.50% (based on your deposit and contributions)
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewSynchrony Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Ally Bank's total earnings would be $191.8 lower than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Ally Bank's APY of 3.50% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Ally Bank vs American Express | 3.50% | $0 |
| Ally Bank vs Axos Bank | 4.46% | $0 |
| Ally Bank vs Bank of America | 0.01% | $100 |
| Ally Bank vs Barclays | 4.10% | $0 |
| Ally Bank vs Capital One | 3.50% | $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 | 3.50% | $0 |
| Ally Bank vs Fitness Bank | 4.85% | $100 |
| Ally Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Ally Bank vs Presidential Bank | 4.50% | $5,000 |
| Ally Bank vs SoFi Bank | 3.80% | $0 |
| Ally Bank vs UFB Direct | 4.21% | $5000 |
| Ally Bank vs Varo Bank | 5.00% | $0 |
| Ally Bank vs Wells Fargo | 2.51% | $25 |
Compare Synchrony Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Synchrony Bank vs American Express | 3.50% | $0 |
| Synchrony Bank vs Axos Bank | 4.46% | $0 |
| Synchrony Bank vs Bank of America | 0.01% | $100 |
| Synchrony Bank vs Barclays | 4.10% | $0 |
| Synchrony Bank vs Capital One | 3.50% | $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 | 3.50% | $0 |
| Synchrony Bank vs Fitness Bank | 4.85% | $100 |
| Synchrony Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Synchrony Bank vs Presidential Bank | 4.50% | $5,000 |
| Synchrony Bank vs SoFi Bank | 3.80% | $0 |
| Synchrony Bank vs UFB Direct | 4.21% | $5000 |
| Synchrony Bank vs Varo Bank | 5.00% | $0 |
| Synchrony Bank vs Wells Fargo | 2.51% | $25 |