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 BankSynchrony Bank
ProductSavings AccountvsHigh Yield Savings
APY
3.50% (as of 6/20/2025)3.80% (as of 6/20/2025)
Bundled Account
NoNo
FDIC-insured
YesYes
Online OnlyYesYes
Compound Frequency
DailyDaily
Minimum Deposit$0$0
Minimum Balance for APY$0$0
Maintenance Fee$0$0
Direct Deposit Required
NoNo
Visit BankSavings AccountHigh Yield Savings
App Store Rating4.7/54.8/5
Google Play Rating4.4/54.6/5
BBB RatingA+Not Rated

Comparative Historical APY Insights (Last 5 Months)

Ally BankSynchrony Bank
ProductSavings AccountvsHigh Yield Savings
Latest APY3.50 %3.80 %
TrendSidewaysSideways
Slope (bps/mo)-4.7-3.5
Rate Changes / Mo0.630.42
Days Since Last Change318
High (-5 m)3.80 %4.10 %
Low (-5 m)3.50 %3.80 %
Draw-down from High-7.9 %-7.3 %
Volatility (CV)0.0200.019
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 Details

Synchrony 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 Details

After 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
Compare Synchrony Bank's APY of 3.80% with other banks