The Bankrate promise
At Bankrate we strive to help you make smarter financial decisions. While we adhere to strict , this post may contain references to products from our partners. Here's an explanation for .
Ally Bank is a popular online bank that offers a variety of financial products. Like many online banks, Ally’s high-yield savings account offers a competitive interest rate, making it a solid choice for consumers looking to earn a better return for an emergency fund.
Savers can also take advantage of Ally’s savings buckets, which lets them earmark portions of their savings account for different goals, like a new home or unexpected emergencies.
Ally was named the overall best bank as part of the 2023 Bankrate Awards.
Ally Bank savings account rates
Ally offers the same interest rate regardless of your balance. The account has no minimum deposit and no monthly fees.
|Account name||APY||Minimum deposit|
|Savings account||4.25% APY||No minimum deposit|
Note: The annual percentage yield (APY) shown was last reviewed between Nov. 27 and Dec. 3, and may vary by region.
How Ally savings accounts compare to top-yielding banks
Ally consistently offers solid rates on its savings account, but you can still find slightly higher APYs elsewhere if you’re looking for the absolute best rates on savings accounts. Banks such as Bread Savings and CIT Bank are currently offering yields exceeding 5 percent APY on their high-yield savings accounts.
Other savings options at Ally
Ally also offers a money market account, which pays a slightly higher interest rate, as well as certificates of deposit ranging from three months up to five years with competitive rates.