Subscribe

Ally Online Savings Review

Online bank paying 3.10% APY on every balance, with no fees. Independent Ally Online Savings review: 4.2/5 for high-yield savings.

By Michael Hewitt, Founder & Editor-in-Chief. Rates last checked September 28, 2026.

Our verdict

For savers who want an easy online account with people on the other end, Ally pays 3.10% APY on every balance, with no monthly fees, no minimum and 24/7 live service by phone, chat and email. What holds it back is getting money in: no cash deposits, only ACH or mobile check, and no ATM card on savings.

Skip it if you deposit cash, or want ATM access straight from your savings.

About Ally Online Savings

Online bank paying 3.10% APY on every balance, with no fees. Ally Online Savings is offered by Ally Bank. Our editorial rating is 4.2 out of 5.

Best for: All-around online banking.

Editorial grade: A- (composite score 84/100).

Highlights

What we like

Where it falls short

Fees, minimums, and rates

Monthly fee: $0/month. Minimum to open: $0. Current APY: 3.10%. Rates and fees last checked on September 28, 2026.

How we reviewed it

This is a desk review: we have not opened an account with Ally Bank. It is built from Ally Bank's published rates, fee schedule and terms and from the public complaint record, and compared with the other products in the High-Yield Savings shortlist. Our bank-account reviews weight APY (30%), fees (20%), access and convenience (15%), account features (15%), trust and safety (10%), and customer support (10%). The rubric is the same for every brand.

The bank behind this account

Similar products to compare

Read our full editorial methodology for how we review products.