Ally Bank vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Ally BankSavings Account Jan 21, 2026 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 3.30% | 3.65% |
Est. Earnings | $5,000+$165 $10,000+$330 $25,000+$825 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android App |
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. Synchrony Bank
As of Ally Bank offers an APY of 3.30% for its Savings Account, with a minimum balance of $0, compared to Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
Synchrony Bank pays $35 more than Ally Bank on a $10,000 balance after one year. Ally Bank pays $330, while Synchrony Bank pays $365 - an APY advantage for Synchrony Bank.
Why Ally Bank?
- ✓Fast transfers via Zelle® (up to $5,000 a day)
Why Synchrony Bank?
- ✓Higher potential APY (3.65% vs 3.30%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $365 vs $330/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $912 vs $825/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $35 more interest on a $10,000 balance than Ally Bank's Savings Account.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Executive Summary as of
Synchrony Bank offers a High Yield Savings account with a competitive APY of 3.65%, making it the winner in this comparison. This account has no minimum deposit, maintenance fees, or direct deposit requirements, providing a straightforward savings option. In contrast, Ally Bank's Savings Account offers a lower APY of 3.30% and shares similar features, including no minimum balance and fees. Both accounts are online-only and FDIC insured, making them accessible for those looking to save without physical branch access.
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. Synchrony Bank Savings Calculator
You earn $35 more with Synchrony Bank than Ally Bank on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Ally Bank
Savings Account
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Ally Bank | Synchrony Bank |
|---|---|---|
| APY | 3.30% Verified: 1/21/2026 ↘︎ 0.10%90d Change | 3.65% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Savings Account | High Yield Savings |
| 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 | iOS4.8 Android4.5 |
| Zelle® Support | Available Limit: $5,000/dayBenchmark for online Zelle; high limits. | Not Supported |
| BBB Rating | A+ | Not Rated |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Synchrony Bank |
|---|---|---|
| Savings Account | High Yield Savings | |
Current APY | 3.30% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.1 | -3.5 |
Days Since Change | 82 | 64 |
12-Month High | 3.80% | 4.10% |
12-Month Low | 3.30% | 3.65% |
Adjustments / Mo | 0.42 | 0.25 |
Volatility Score | 0.043 | 0.035 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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