Ally Bank vs Synchrony Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Ally Bank vs. Synchrony Bank

As of July 15, 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 minimum deposit or balance requirements for the savings account.
  • Ally Bank charges no maintenance fees.

Potential Drawbacks

  • Ally Bank's current APY is 3.50%, down from 3.60% last month.
  • Lower App Store rating of 4.7 compared to Synchrony Bank.

Synchrony Bank

Strengths

  • Synchrony Bank offers a higher APY of 3.80% for its savings account.
  • Synchrony Bank has a higher App Store rating of 4.8.
  • No maintenance fees for the savings account.

Potential Drawbacks

  • Synchrony Bank is not rated by the BBB.
  • No change in APY; it remains at 3.80%.
Summary: Ally Bank offers a solid BBB rating and no fees, but its APY has decreased to 3.50%. In contrast, Synchrony Bank provides a higher APY of 3.80% but lacks a BBB rating. Both banks have no minimum balance requirements and charge no maintenance fees, making them competitive choices for high-yield savings accounts.

Compare Ally Bank's vs Synchrony Bank's Savings Accounts

Ally BankSynchrony Bank
ProductSavings AccountvsHigh Yield Savings
APY
3.50% (as of 7/15/2025)3.80% (as of 7/15/2025)
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 6 Months)

Ally BankSynchrony Bank
ProductSavings AccountvsHigh Yield Savings
Latest APY3.50 %3.80 %
TrendSidewaysSideways
Slope (bps/mo)-4.9-4.5
Rate Changes / Mo0.530.36
Days Since Last Change2742
High (-6 m)3.80 %4.10 %
Low (-6 m)3.50 %3.80 %
Draw-down from High-7.9 %-7.3 %
Volatility (CV)0.0240.023
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 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 (-6 m)
Highest APY in the last 169 days.
Low (-6 m)
Lowest APY in the last 169 days.
Draw-down from High
How far today sits below the 6-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