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Ally Bank Savings Rate Hits New High for 2019

Ally Bank Savings Rate Hits New High for 2019Ally Bank savings rates, which were already were competitive for online banks, recently increased their rate. Current savings rates at Ally Bank are at 2.18 percent with an APY of 2.20 percent, up from 1.98 percent with an APY of 2.00 percent. With this increase, savings rates at Ally Bank are at a new high for 2019. This increase also puts Ally Bank's savings rate in the top 10 rates on our list.

There is no minimum opening deposit for a savings account at Ally Bank but you have to fund your account within 30 days of opening it or the account will be closed.

Ally Bank Savings Account Benefits

  • No monthly maintenance fees

  • Deposit checks remotely with mobile app

  • Interest compounded daily

  • Six transactions limit per statement cycle as per Federal maximum

  • Deposits are insured by the FDIC up to $250,00 per account, per depositor

  • Standard ACH Transfer Time - 3 business days

  •  Expedited ACH Transfer Time 1 business day

Ally Bank Savings Account Fees

  • Returned Deposit Item $7.50 per item

  • Excessive Transactions after Fed limit of 6 - $10 each limited transaction

  • Fee for Overdraft Item Paid/ Fee for Overdraft Item Returned $25 maximum one fee per day

  • Outgoing Wires (domestic only) $20 per wire

  • Expedited Delivery (overnight checks, etc.) per delivery/per item

  • Account Research Fee $25 Per hour

  • Cross Border/Currency Conversion Transaction Up to 1% Of the transaction amount

Ally Bank Savings Account Features

  • Ally eCheck Deposit $0 - Deposit checks remotely using Ally Online or Mobile Banking

  • Direct deposits same business day

  • Transfers between Ally accounts Available immediately

  • Transfers initiated at another bank - funds will be available when Ally receives and posts them to your account

  • Wire transfers received after 3 pm ET - posted in account the next business day

The easiest way to open an account is online at You can also call customer support 24 hours a day at 1-877-247-ALLY (2559). See how Ally Bank savings rates compare to other savings account rates by viewing our rate list at Online Savings Accounts.
Author: Brian McKay
January 19th, 2019