Ally Bank vs. Axos Bank
Ally Bank's Savings Account pays 3.00% APY while Axos Bank's Axos ONE Savings pays 4.21% APY.
Note: Axos Bank's Axos ONE Savings also needs a checking account.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Axos Bank pays $121 more than Ally Bank annually ($421 vs $300).
Choose Ally Bank if you want a no-strings-attached account, or you want Zelle for quick transfers. Choose Axos Bank if getting the best rate matters most.
Important Considerations
Axos Bank's Axos ONE Savings pays its top rate only if you also open a checking account with Axos Bank, while Ally Bank's Savings Account stands alone.
| Metric | Ally BankSavings Account Sep 11, 2026 | Axos BankAxos ONE Savings Sep 11, 2026 |
|---|---|---|
| APY | 3.00% | 3.50% - 4.21% |
Earns in a year | $5,000+$150 $10,000+$300 $25,000+$750 | $5,000+$211 $10,000+$421 $25,000+$1,053 |
Min. Deposit | $0 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | - | The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppChecking BundleDaily CompoundingStable Rate |
Prefer In-Person Banking?
Both of these institutions are online-only. If you need in-branch access, check out our list of savings accounts with brick-and-mortar locations.
Executive Summary
Axos Bank offers a superior APY of 4.21% with its Axos ONE Savings account, making it the clear winner compared to Ally Bank's Savings and Money Market Accounts, both of which yield 3.00%. The Axos ONE Savings requires a checking account and either a direct deposit of $1,500 or total monthly qualifying deposits of at least $5,000 to qualify for the highest rate. For those seeking a simpler option, Axos Bank also provides the Summit Savings account, which offers a competitive 3.75% APY without any bundling or direct deposit requirements. Both banks operate online and are nationally available, with Ally Bank primarily accessible in Utah and Axos Bank in California, Nevada, and Utah.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Ally Bank?
- Fast transfers via Zelle® (up to $5,000 a day)
Why Axos Bank?
- Access to 95,000 fee-free ATMs
- Higher potential APY (3.50%-4.21% vs 3.00%) on all balances
- Offers 3 different high-yield savings options
Key Feature Differences
Better Returns at $10,000
Axos BankAxos Bank's Axos ONE Savings earns more on smaller deposits (approx. $421 vs $300/yr).
Better Returns at $25,000
Axos BankAxos Bank's Axos ONE Savings pulls ahead with larger amounts (approx. $1053 vs $750/yr).
Better for Simplicity
Axos BankAxos Bank's Summit Savings offers 3.75% APY with no bundling, direct deposit requirement or caps.
Better for All-in-One Banking
Axos BankAxos Bank's Axos ONE Savings pays a superior APY for customers who also open a checking account.
Shared Benefits
Over a 1-year period, Axos Bank's Axos ONE Savings pays $121 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Ally Bank vs. Axos Bank Savings Calculator
You earn $121 more with Axos 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+$300.00(2.9%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,300.00
Axos Bank
Axos ONE Savings
Savings Breakdown
- Interest Earned+$421.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,421.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Still at a large branch bank?
A typical branch-bank savings rate is 0.05% APY. On a $10,000 balance, the gap to these two banks is at least $295 a year in interest.
Both Ally Bank and Axos Bank advertise far more than that typical branch-bank rate.
| Feature | Ally Bank | Axos Bank |
|---|---|---|
| APY | 3.00% Observed: 9/11/2026 Stable over 90 days | 4.21% Range: 3.50% - 4.21% Observed: 9/11/2026 Stable over 90 days |
| Product Name | Savings Account | Axos ONE Savings |
| Minimum Deposit | $0 | $0 |
| Min. Balance for APY | $0 | $0 |
| Monthly Fee | $0 | $0 |
| Compound Frequency | Daily | Daily |
| In-Branch Access | No | No |
| Account Type | Online Only | Online Only |
| Physical Branches | 1 (UT) | 3 (CA, NV, UT) |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC or NCUA Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $5,000/dayBenchmark for online Zelle; high limits. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | - | The APY is available with the Axos ONE savings and checking bundle. The checking account also earns interest. To qualify, you must either set up a direct deposit of $1,500 and maintain an average daily balance of more than $1,500 in your ONE Checking account, or receive at least $5,000 in total monthly qualifying deposits and maintain an average daily balance of more than $5,000. |
| Next Steps | Visit SiteVerify at Ally Bank Non-sponsored link to official site | Visit SiteVerify at Axos Bank Non-sponsored link to official site |
Compare Savings Rates Over Time
Historical Performance
| Metric | Ally Bank | Axos Bank | ||
|---|---|---|---|---|
| Savings Account | Axos ONE Savings | Summit Savings | High Yield Savings | |
Current APY | 3.00% | 4.21% | 3.75% | 0.61% |
Trend | Stable | Stable | Stable | Stable |
Speed of change | -0.04 | -0.04 | -0.06 | -0.00 |
Days Since Change | 100 | 221 | 274 | 361 |
12-Month High | 3.50% | 4.51% | 4.00% | 0.61% |
12-Month Low | 3.00% | 4.21% | 3.75% | 0.61% |
Changes per month | 0.41 | 0.25 | 0.08 | 0.00 |
Steadiness | 0.024 | 0.023 | 0.031 | 0.000 |
How to read these metrics(Click to expand)
Trends and speed
- Trend: The general direction of the rate over the analyzed period. Useful for seeing whether a bank is raising its rate or letting it slip.
- Speed of change: How fast the rate moves. A high positive number means they raise rates quickly. A reading of 0.10 is a tenth of a percentage point each month.
- Changes per month: How often the rate moves. A high number means it changes constantly; a low number means it holds.
Risk & Range
- High/Low: The absolute ceiling and floor of the rate during the 364-day window.
- Steadiness: How far the rate swings around its average. A lower score means a steadier, more predictable rate.
- Days Since Change: A high number, for example above 90, means the rate rarely moves. A low number means it changed recently.
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