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 10 additional withdrawals per statement cycle.
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.
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. No minimum balance required to open an account. Fees may reduce earnings. The APYs for other banks are provided by mybanktracker.com and are accurate as of . The APYs in this table are for the state of California.
Ally Bank Savings Accounts have a range of account balances called balance tiers. We’re required to tell you the APY we pay is based on the tier in which your end-of-day balance falls. The APY may remain the same for all balance tiers or change based on your account’s daily balance.
That being said, we’ve simply made the current APY available across all our balance tiers.
Our balance tiers are:
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Less than $5,000
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Between $5,000 and $24,999.99
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$25,000 or more
The APY of our Savings Account is more than 5x the national average of 0.38% APY, based on the national average of savings accounts rates published in the FDIC Monthly National Rates and Rate Caps accurate as of 6/16/2025. 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
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Monthly maintenance fees
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Overdraft item fees
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Incoming wires (domestic and international)
...and we won't hide the fees we do have.
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Expedited delivery
$15
-
Outgoing domestic wires
$20
Get to know every aspect of this account before you sign up.
Check out our Straight Talk Product Guide (PDF).
FAQs
We have answers.
Still have questions? Visit our Help Center .