Skip to Main Content

Ally Bank savings account rates

Updated July 3, 2024
Bankrate logo

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, including a high-yield savings account and various certificates of deposit. The high-yield savings account in particular 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 high-yield savings account for different goals, like a new home or unexpected emergencies.

Ally was named the overall best bank as part of the 2024 Bankrate Awards.

Ally Bank savings account interest rates

Ally offers the same interest rate regardless of your balance. The high-yield savings account has no minimum deposit and no monthly fees.

Account name APY Minimum deposit

Note: The annual percentage yield (APY) shown is updated weekly, and may vary by region.

 Savings account 4.20% APY No minimum deposit

How Ally savings accounts compare to top-yielding banks

Ally consistently offers solid interest rates on its high-yield savings account, but you can still find slightly higher APYs elsewhere if you’re looking for the absolute best interest rates on savings accounts.

Online banks that are currently offering yields exceeding 5 percent include:

It may not be worth switching to a different bank to earn a slightly higher yield, if you already bank with Ally, or value the access to Ally’s other services, such as checking, lending or investing.

Other savings options at Ally

Ally also offers a money market account, which pays the same APY as the bank’s savings account, as well as certificates of deposit ranging from three months up to five years with competitive rates.

Marcos Cabello Arrow Right Writer, Banking/Deposits
Marcos Cabello is a banking writer at Bankrate, where he’s dedicated to helping readers make the best decisions about their finances. Previously, Marcos wrote about money for CNET and NextAdvisor, running the gamut of personal finance topics including U.S. economic policy and cryptocurrency.