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Online Savings

save smarter,
faster than ever.

 

Helpful tools. 24/7 support. No monthly maintenance fees or minimum balance requirements.

Online Savings Account

Annual Percentage Yield of

%

on all balance tiers

Ally Bank

Online Savings Account

save smarter,
faster than ever.

 

Helpful tools. 24/7 support. No monthly maintenance fees or minimum balance requirements.

Annual Percentage Yield of

%

on all balance tiers

Finally a savings account that

lets your money work smarter.

Along with a competitive, variable rate and no monthly maintenance fees, this account comes with tools to grow your money faster. Like most savings accounts, there’s a limit of 6 withdrawals per statement cycle, but using our tools won’t count toward those limits.

Track your progress and see the impact boosters can make in a crisp, clear chart.

Along with a competitive, variable rate and no monthly maintenance fees, this account comes with tools to grow your money faster. Like most savings accounts, there’s a limit of 6 withdrawals per statement cycle, but using our tools won’t count toward those limits.

  • Use buckets to organize your money and visualize what you’re saving for

  • Set up boosters to optimize and grow your savings, a little at a time

  • Make changes as new priorities arise

  • Get personalized recommendations to help you save more

Track your progress and see the impact boosters can make in a crisp, clear chart.
  • Use buckets to organize your money and visualize what you’re saving for

  • Set up boosters to optimize and maximize your savings, even if the rate changes after you open the account

  • Make changes as new priorities arise

  • Get personalized recommendations to help you save more

Organize using buckets.

Set money aside for what matters to you. All in one place.

Divvy up your savings without multiple bank accounts or hard math.

Like digital envelopes, you can dedicate parts of your savings to whatever you want (or want to do). You can create up to 10 savings buckets that will peacefully coexist in your Online Savings Account, plus you’ll still earn interest on your total balance.  

a few examples of buckets: Home improvements. Vet bills. Vacation
a few examples of buckets: Home improvements. Vet bills. Vacation

Divvy up your savings without multiple bank accounts or hard math.

Like digital envelopes, you can dedicate parts of your savings to whatever you want (or want to do). You can create up to 10 savings buckets that will peacefully coexist in your Online Savings Account, plus you’ll still earn interest on your total balance.  

Ally Online Savings Screenshot

Divvy up your savings without multiple bank accounts or hard math.

Like digital envelopes, you can dedicate parts of your savings to whatever you want (or want to do). You can create up to 10 savings buckets that will peacefully coexist in your Online Savings Account, plus you’ll still earn interest on your total balance.  

Optimize with boosters.

Accelerate your savings and put part of your strategy on autopilot.

Recurring Transfers

Set it and forget it. Move money into your savings on a schedule that makes sense for you.

Round Ups

We track your Ally Interest Checking accounts for transactions we can round up to the nearest dollar. When you accrue at least $5 in round ups, we transfer it to your savings.

More about how it works

Surprise Savings

We analyze your linked checking accounts for safe-to-save money, then transfer it to your savings so you don’t have to. 

Save more than 10x

Come for the helpful tools. Stay for everything else. 

No monthly maintenance fees or minimum balance requirements.

Keep in mind, with this type of account there’s a limit of 6 withdrawals per statement cycle. Why only 6?

FDIC

Your money earns money with interest compounded daily.

Rate is variable and may change after the account is opened. Deposits are insured by the FDIC up to the maximum allowed by law.

More about FDIC coverage

Earn 10x the national average.

The national average for this type of account is 0.04% APY, based on rates published in the FDIC Weekly National Rates and Rate Caps accurate as of 2/22/2021.

24/7 support.

Call, chat or email us any time. A real person is always available to help, day or night. 

See how we compare

Our features maximize the way you save. Take a look for yourself.

Ally Bank

Online Savings Account

monthly maintenance fees 

$0

minimum opening deposit

$0

Tool to organize your savings—

no additional account required: 

Yes - Buckets

Tool to analyze any linked checking account for safe-to-save money:

Yes - Surprise Savings

Bank of America

Advantage Savings

monthly maintenance fees 

$8

minimum opening deposit 

$100

Yes

No

Chase Bank

Chase SavingsSM 

monthly maintenance fees 

$5

minimum opening deposit 

$0

No

No

Wells Fargo

Way2Save®Savings 

monthly maintenance fees 

$5

minimum opening deposit 

$25

No

No

Ally Bank

Online Savings Account

monthly maintenance fees 

$0

minimum opening deposit

$0

Tool to organize your savings—no additional account required:

Yes - Buckets

Tool to analyze any linked checking account for safe-to-save money:

Yes - Surprise Savings

Bank of America

Advantage Savings

monthly maintenance fees 

$8

minimum opening deposit 

$100

Tool to organize your savings—no additional account required:

Yes

Tool to analyze any linked checking account for safe-to-save money:

No

Chase Bank

Chase SavingsSM 

monthly maintenance fees 

$5

minimum opening deposit 

$0

Tool to organize your savings—no additional account required:

No

Tool to analyze any linked checking account for safe-to-save money:

No

Wells Fargo

Way2Save®Savings 

monthly maintenance fees 

$5

minimum opening deposit 

$25

Tool to organize your savings—no additional account required:

No

Tool to analyze any linked checking account for safe-to-save money:

No

What you should know.

Our features information is accurate as of 2/1/2021

Banks with maintenance fees often offer more than one condition, one of which you may be able to satisfy, to waive the fee or fees.

Our Annual Percentage Yields (APYs) are accurate as of XX/XX/XXXX. 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/XXXX. The APYs in this table are for the state of California and are based on a minimum daily balance of $5,000.

The APY may remain the same for all balance tiers or change based on your account’s daily balance.  

A tier is a range of account balances.

Ally Bank Online Savings Account balance tiers

  • 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 rate of our Online Savings Account is 10x the national average of 0.04% APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of 2/22/2021.

Our Annual Percentage Yields (APYs) are accurate as of XX/XX/XXXX. 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/XXXX. The APYs in this table are for the state of California and are based on a minimum daily balance of $5,000.

Fees, a short story.

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

We don't charge for the things you use most

…and 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.

Open New Account

Prepare for wherever life takes you.

Your journey is unique, and we want to help you meet the milestones that matter most to you. Check out more tips and tools to keep you moving forward.

Explore Life Events

The reviews are in.

People like it here. We think you will, too.

Average Rating

FAQs

We have answers.

No. We don't accept cash deposits. However, there are several ways you can make a deposit into your account.

  • Remote check deposit with Ally eCheck Deposit℠
  • Online transfers and direct deposit
  • Wire transfers and mail
Still have questions? Visit our Help Center.

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About the limit

Federal law permits limiting certain types of withdrawals and transfers from savings and money market accounts to a combined total of 6 per statement cycle. These limited transactions include things like Online and Mobile Banking transfers, transfers from your account to any of your accounts with us, or to a third party and, if checks and debit cards are allowed on the account, check and point-of-sale transactions.

 

There’s a $10 excessive transaction fee for each transaction that exceeds this limit. However, we’re temporarily refunding this fee to help those of you impacted by COVID-19.

 

Some transactions are unlimited. For example, you can make as many deposits as you like, and you can call us any time to request a check made out to you. With a Money Market Account, you can make unlimited ATM withdrawals.

See how boosters work

See how buckets work

Save more than 10x

We estimate that your savings could be more than 10x what you would earn with interest alone. The Surprise Savings booster is calculated using the average completed transfer amount per customer for the full month of January, 2021. The interest is calculated using a $26,000 average Online Savings Account balance at 0.60% Annual Percentage Yield (APY). Rates are variable and subject to change. Fees may reduce earnings. We can’t promise that you’ll save this much.

More about how it works

We round up transactions like debit or credit card purchases, electronic payments, and checks written from tracked account. 

  • You can link credit cards or checking accounts you have at any financial institution

  • Track more than one account for round ups

  • Make changes or stop your round ups whenever you want

Each transfer will be between $5 - $20, and if you use a checking account for round ups, we’ll do our best to make sure your round up transfers won’t get you close to a $0 balance. Keep in mind, you can’t cancel the transfer once it starts.

 

If you decide to link a credit card for round ups, you'll also need to add a checking account. When you accrue enough to be transferred, we won’t charge your credit card - instead we transfer all your accrued round ups from your designated checking account.

Surprise Savings, explained.

Surprise Savings Icon

Link any checking account you want us to analyze – even checking accounts you have somewhere else. Once you turn on this booster, our advanced analytics compares what you normally spend in your linked checking accounts and identifies any safe-to-save money, then transfers it to your Online Savings Account.

Buckets, explained.

Savings Toolkit buckets illustration

Buckets allow you to dedicate parts of your savings to whatever you want. Think of them as digital envelopes. You can create up to 10 savings buckets, plus you’ll still earn interest on the total balance of your account.

More about how round ups work

Each transfer will be between $5 - $20, and we’ll do our best to make sure your round up transfers won’t get you close to a $0 balance.

  • We round up transactions like debit card purchases, electronic payments, and checks written from your Ally Interest Checking account
  • Track more than one account for round ups
  • Make changes or stop round ups whenever you want

Keep in mind

You can’t cancel this type of transfer once it starts, but you can instantly move money back to your checking account whenever you want.