Ally Bank
Online Savings Account
Save smarter, faster than ever.
Helpful tools. 24/7 support. No monthly maintenance fees or minimum balance requirements.
Finally a savings account that lets your money work smarter.
Along with a competitive, variable rate and no monthly maintenance fees, the Ally Bank Online Savings Account comes with tools to help grow your money faster. We found people have saved, on average,
2x more when they’ve used our smart savings tools.
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Use buckets to organize your money and visualize what you’re saving for
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Set up boosters to optimize and maximize your savings, even if the rate changes after you open the account
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Make changes as new priorities arise
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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). Create up to 10 buckets that will peacefully coexist in your Online Savings Account, and track your progress towards savings goals and target dates. 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.
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.
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?
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.
Earn more than 5x the national average.
The national average for this type of account is 0.07% APY, based on rates published in the FDIC Monthly National Rates and Rate Caps accurate as of 5/16/2022.
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.
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
Annual Percentage Yield
%
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
Annual Percentage Yield
%
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
Annual Percentage Yield
%
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
Annual Percentage Yield
%
What you should know
Our features information is accurate as of 5/2/2022.
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 . 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 . 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:
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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 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 more than 5x the national average of 0.07% APY, based on the national average of savings accounts rates published in the FDIC Weekly National Rates and Rate Caps accurate as of 5/16/2022.
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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Copies of online statements
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Incoming wires (domestic and international)
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Postage-paid deposit envelopes
...and we won't hide the fees we do have.
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$7.50
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$10
per transaction -
Expedited delivery
$15
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Outgoing domestic wires
$20
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$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.
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.
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People like it here. We think you will, too.
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FAQs
We have answers.
Still have questions? Visit our Help Center.