Synchrony Bank vs Ally Bank
Synchrony Bank is a good online bank offering high interest rates. How does it compare to Ally Bank? Read our comparison chart below.
Synchrony Bank offers high interest savings with an ATM card for easy withdrawals. There is no minimum deposit. Their CDs require a $2,000 minimum deposit to open. There are no service fees for any products.
While Ally Bank offers high interest on their Savings account. It also offers interest checking and multiple CD options, including No Penalty and Raise Your Rate CDs. There is no minimum deposits or service fees for any of their banking products.
Compare Synchrony Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings and reviews.
Synchrony Bank | Ally Bank | |
|---|---|---|
High Yield Savings - 4.30% APY - | Online Savings Account - 4.00% APY - | |
Benefits and Features | ||
| Savings | 4.30% APY. No monthly service fee and no minimum deposit. An ATM card is provided for easy withdrawal. Synchrony will refund ATM fees for other banks up to $5 per statement cycle | |
| CD | 0.25% to 4.35% APY. Terms of 3 months to 5 years. No minimum deposit to open. | 3.00% to 4.40% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.10% |
| Checking | 0.10% APY for daily balances less than $15,000. 0.25% APY for daily balances over $15,000 | |
| Money Market | 2.25% APY. No monthly service fee and no minimum deposit. | |
| Mobile App | ||
| ATMs | Any ATMs with Plus or Accel logos | |
| Customer Service | Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET) | |
| IRA CD | 0.25% to 4.20% APY. Terms of 3 months to 5 years. No minimum deposit to open. | |
| IRA Money Market | 2.25% APY. | |
| Locations | ||
CreditDonkey® Reviews | ||
| Savings |  | |
| Money Market |  | |
| Customer Service | | |
| Pros & Cons | Pros:
| |
| Bottom Line | Good online bank offering high interest rates... | |
Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details. Synchrony Bank: Pricing information from published website as of 10/06/2024. Ally Bank: Pricing information from published website as of 10/19/2024. | ||
Which is Better: Synchrony Bank or Ally Bank?
Still need help deciding which bank reviews & deals is better? Read the in-depth reviews below. You may also be interested in comparing Synchrony Bank or Chase.
Articles on Synchrony Bank
Synchrony Bank
Synchrony offers some of the highest savings and CD rates. But there are downsides. Read this review before you open an account.
Synchrony High Yield Savings
Synchrony's high-yield savings account has a high APY with no fees. But they also have more to offer than just that. Read on to know all the details.
Synchrony Bank CD Rates
Are CD rates good at Synchrony Bank? Find out if you should open a Synchrony CD.
Articles on Ally Bank
Ally No Penalty CD
Ally Bank's No Penalty CD offers a competitive APY without early withdrawal penalties. Learn more about this CD here.
Ally Bank Locations
Ally is an excellent online bank with no physical locations. So, how can you access your funds? Read on to find out.
Ally High Yield Savings
Ally Savings offers a strong APY and various savings tools to help you boost your funds. Read on to find out more.
Ally Bank Problems
Ally Bank is well-known for having attractive APYs and practically no fees. But, what's the catch? Read on to know what nuisances you may encounter.
Ally Money Market vs Savings
Ally's Money Market and Savings accounts boast high APYs with no hidden fees. But, how do they differ? Read on to find out.
Ally Bank CD Rates
Ally Bank CD accounts offer high APYs and require no minimum deposit. But what is the catch? Learn more about Ally CD rates in this review.
Ally Bank Routing Number
Looking to transfer money in or out of your Ally account? You'll need the right routing number. Find your Ally routing number and learn more about money transfers in our guide.
Which Do You Think is Best?
Which Bank Account is Right for You?
You Might Also Like
Easiest Bank Account to Open Online
Find bank accounts you can open online with no minimum balances and credit checks. Choose from over 10 top choices like Chime, Capital One, and more.
Best Savings Accounts for College Students
Want to think ahead? Start preparing for your future using these student-friendly savings accounts with high APYs and no fees.
Best High Yield Savings Accounts
Make your money work harder for you in a high-yield savings account. Here are the top savings accounts to grow your money.
Best Money Market Rates
Good money market accounts offer high interest rates with more flexibility. Here are the safest money market accounts to earn the most interest.
Best Online Bank
Online banks are convenient, pay higher interest rates, and have less fees. Find out which accounts are best (#1 surprised us).
How to Choose a Bank: Beginner's Guide
Can't decide what bank to use? Here are tips for choosing a new bank that's right for your needs.
How to Invest $100k
Investing large sums of money in a savings account or CD? That mistake may be costing you. Find better ways to invest $100K and increase your profits.
Capital One 360 Review: Pros and Cons
Capital One 360 checking and savings accounts are free to open and offer higher-than-average APY rates. Does this popular web bank live up to its claims? Find out if it's right for you.
CIT Bank Review
CIT Bank offers a high interest rate. But how reliable is this online bank? Read this review to find out if what you heard is true.
Best CD Rates
Unearth the highest CD rates and maximize your savings. This list showcases the banks with the most lucrative rates.
Next Page: Synchrony Bank
