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.

Learn more

No monthly maintenance fees.

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

You have options.

Available for Roth, SEP and Traditional IRAs.

Find the IRA for you

Get more for your money.

Compare the cost of banking somewhere else.

Daily Balance

What you should know.

Our Annual Percentage Yields (APYs) are accurate as of XX/XX/XX . 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 mybanktracker.com and are accurate as of XX/XX/XX . 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

Monthly maintenance fees
Overdraft item fees
Incoming wires (domestic and international)
Official/cashier's checks

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

Excessive transactions fee

$10
per transaction
Expedited delivery

$15
Outgoing domestic wires

$20
Account research fee

$25
per hour

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.

Open New Account

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

FAQs

We have answers.

Because the Savings Account is part of your IRA with Ally, you’ll need to request a distribution. You can either log in to online banking and complete the distribution request, call us 24/7 at 877-247-2559 , or complete and mail in the Distribution Form .

Keep in mind, federal law permits limiting the number of withdrawals and transfers from all U.S. savings and money market accounts to 6 per statement cycle.

There's usually a $10 excessive transaction fee for each transaction over this limit, but we’re continuing to refund the fee on savings accounts for now.
You can make six withdrawals and transfers per statement cycle.

Federal law permits limiting certain types of withdrawals and transfers from savings and money market accounts. There's usually a $10 excessive transaction fee for each transaction over this limit, but we’re continuing to refund the fee on savings accounts for now.

Consult your tax professional for details on IRA distributions or withdrawals.

Still have questions? Visit our Help Center .