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Ally Bank Savings Account Review
Our take: No minimum, no monthly fees, savings buckets and a highly rated app from one of the largest online banks. The rate trails the leaders.
Pros
- Same 3.20% APY on every balance
- No minimum and no monthly fees
- Savings buckets and boosters such as round ups
Cons
- 3.20% APY trails the top accounts we track
- Limit of 10 certain withdrawals and transfers per statement cycle
Key facts
- APY
- 3.20%
- Requirements
- None
- Minimum to open
- $0
- Minimum to earn APY
- None
- Monthly fee
- No monthly fee
- ATM access
- None, transfers only
- Current offer
- None right now
- Insurance
- FDIC insured through Ally Bank up to $250,000 per depositor, per ownership category
- FDIC certificate
- 57803 (Ally Bank, Sandy, UT)
- Who can open
- Personal accounts.
- Mobile app
- Ally app: 4.7 on the App Store (Oct 27, 2026)
Source: Ally Bank website, checked Oct 27, 2026. Insurance details from the FDIC BankFind database.
Ally Bank’s savings account pays 3.20% APY on every balance, with no minimum balance and no monthly maintenance fees. Its standout features are savings buckets and boosters such as round ups. Ally limits certain withdrawals and transfers to 10 per statement cycle. Ally lists its APY as accurate as of Oct 27, 2026; we checked it on Oct 27, 2026.
Ally savings rate and terms today
| Feature | Details |
|---|---|
| APY | 3.20% on all balance tiers |
| Minimum balance | None |
| Monthly fee | None |
| Tools | Savings buckets; boosters such as round ups |
| Withdrawal limit | 10 certain withdrawals and transfers per statement cycle |
| FDIC insured | Yes, Ally Bank (certificate 57803) |
From Ally’s savings account page, checked Oct 27, 2026. Rates are variable.
Our take
Ally is one of the best known online banks, and its savings account is easy to live with: one rate on every balance, no fees and a well rated app (4.7 on the App Store). Buckets let you split one account into goals, such as an emergency fund and a trip, without opening more accounts.
The catch is the rate. At 3.20% APY, Ally trails the top savings accounts we track. If you mainly want the most interest, compare the best high yield savings accounts. If you want everything in one well known bank with good tools, Ally is a reasonable choice.
How much will Ally pay you?
| Balance | Interest in one year at Ally | FDIC national average |
|---|---|---|
| $5,000 | $160 | $19 |
| $10,000 | $320 | $38 |
| $25,000 | $800 | $95 |
| $50,000 | $1,600 | $190 |
If the APY stays the same and interest stays in the account. National average from the FDIC (Oct 19, 2026).
Is Ally Bank safe?
Yes. Ally Bank is an FDIC member, certificate 57803, based in Sandy, Utah, founded in 2004, with about $188.2 billion in assets (June 30, 2026). Deposits are insured up to $250,000 per depositor, per ownership category. See how it compares in Ally vs. Barclays savings.
How Ally Bank compares
| Account | Rating | APY | Min to open | ATM card |
|---|---|---|---|---|
| Elevault High Yield Savings | 4.6 | 4.34% | $0 | No |
| EverBank Performance Savings Account | 4.6 | 4.20% | $0 | No |
| Happen Bank LevelUp Savings | 4.6 | 4.20% | $0 | Yes |
| Bread Savings High Yield Savings Account | 4.6 | 4.05% | $100 | No |
| Peak Bank Envision High Yield Savings | 4.5 | 4.27% | $100 | No |
| Newtek Bank Personal High Yield Savings Account | 4.5 | 4.20% | $100 | No |
| Openbank High Yield Savings Account | 4.5 | 4.00% | $500 | No |
| E*TRADE Premium Savings | 4.5 | 3.75% | $0 | No |
| Axos ONE Savings | 4.4 | 4.21% | $0 | Yes |
| Always.bank High Yield Savings Account | 4.4 | 4.10% | $0 | No |
| Barclays Tiered Savings | 4.4 | 3.50% | $0 | No |
| Capital One 360 Performance Savings | 4.4 | 3.20% | $0 | No |
| Valley Direct High Yield Savings | 4.3 | 3.30% | $1,000 | No |
| Ally Bank Savings Account | 4.3 | 3.20% | $0 | No |
| American Express High Yield Savings Account | 4.3 | 3.20% | $0 | No |
| Pibank Savings | 4.2 | 4.40% | $0 | No |
| Western Alliance Bank High Yield Savings Premier | 4.2 | 3.80% | $500 | No |
| Ivy Bank High Yield Savings Account | 4.1 | 4.00% | $2,500 | No |
| SoFi Checking and Savings | 4.1 | 3.30% | $0 | Yes |
| Alto Online Savings (BMO) | 4.0 | 3.00% | $0 | No |
Ally Bank savings FAQ
What is the Ally savings rate?
3.20% APY on all balance tiers, accurate as of Oct 27, 2026.
Does Ally savings have a minimum or monthly fee?
No. Ally has no monthly maintenance fees or minimum balance requirements on its savings account.
What are Ally savings buckets?
Buckets are like digital envelopes inside one savings account, so you can set money aside for separate goals. Boosters such as round ups help move small amounts into savings.
Is there a withdrawal limit on Ally savings?
Yes. Ally limits certain withdrawals and transfers from savings and money market accounts to 10 per statement cycle.
Is Ally Bank FDIC insured?
Yes. Ally Bank is FDIC certificate 57803; deposits are insured up to $250,000 per depositor, per ownership category.
Ready to open Ally Bank Savings Account?
Rates as of Oct 27, 2026. Confirm the current rate and terms on the provider’s site before you apply.