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Ally Bank

IRA Savings Account

Bring on the future.

Annual Percentage Yield of


on all balance tiers

Save big now. Retire how you want later.

We can’t give you the private island, but we can help you save for it.

Earn more with competitive rates.

Our Savings Account interest rate is more than 5x the national average, and with  interest compounded daily , your money grows faster.

Manage your IRA online.

Keep your retirement savings right where you can see it. Log in anytime to manage your account. Plus, we don’t charge any monthly maintenance fees.

Why choose this type of retirement account?

You can grow money for retirement without getting into the market. You get the tax benefits of an IRA, and deposits are FDIC insured. Plus, you can make up to 6 additional withdrawals per statement cycle.
Why only 6?

Come for the features. Stay for the experience.

Digital banking tools.

It’s easy to bank anytime, anywhere with the Ally Mobile app.

Your money, FDIC-insured.

Deposits are insured by the  FDIC  up to the maximum allowed by law.

No monthly maintenance fees.

Don’t expect any sneaky monthly maintenance fees with us.

You have options. 

Available for Roth, SEP and Traditional IRAs. 

Get more for your money.

Compare the cost of banking somewhere else.

What you should know.

Our Annual Percentage Yields (APYs) are accurate as of . Keep in mind, these rates are variable and may change after the account is open. Fees may reduce earnings. The APYs for other banks are provided by and are accurate as of . The APYs in this table are for the state of California.

A tier is a range of account balances.

Our balance tiers are:

  • Less than $5,000

  • Between $5,000 and $24,999.99

  • $25,000 or more

The APY we pay is based on the tier in which your end-of-day balance falls. APYs are variable and subject to change.

The APY of our Savings Account is more than 5x the national average of 0.45% APY, based on the national average of savings accounts rates published in the FDIC Monthly National Rates and Rate Caps accurate as of 9/18/2023.

If you make an early withdrawal from your IRA account, the IRS may impose a penalty. Please consult a tax professional.

Fees, a short story.

You shouldn't be nickel and dimed for using your own money.

There's a lot we don't charge for

...and we won't hide the fees we do have.

Get to know every aspect of this account before you sign up.

Check out our  Straight Talk Product Guide  (PDF).

Bank better, starting now.

It only takes a few minutes to open an account.

1. Tell us about yourself.

We'll need some personal details like your address, contact information and social security number.

2. Fund your account.

There’s no minimum amount to open an account, but the faster you fund, the sooner you’ll earn interest.

3. Enjoy our award-winning experience.

Get online access right away and explore everything we offer as well as other ways we can help you reach your goals.

Build a better financial future.

Whether you’re just starting out or nearing retirement, we’ve got resources and tools to help you at any life stage.

Explore Life Stages


We have answers.

Still have questions? Visit our Help Center .