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, reviews, pros and cons.

	Synchrony Bank	Ally Bank
	SPECIAL OFFER High Yield Savings - 4.75% APY - Learn More Read Synchrony Bank Review	SPECIAL OFFER Online Savings Account - 4.25% APY - Learn More Read Ally Bank Review
	Benefits and Features
Savings	4.75% 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	4.25% APY
CD	0.25% to 5.15% APY. Terms of 3 months to 5 years. No minimum deposit to open.	3.00% to 4.50% APY. Terms of 3 months to 5 years. 12-month CD APY of 4.50%
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.	4.25% APY
Mobile App		iOS & Android
ATMs	Any ATMs with Plus or Accel logos	Over 43,000 no-fee Allpoint ATMs
Customer Service	Mon-Fri 8:00 am - 10:00 pm (ET); Sat-Sun 8:00 am - 5:00 pm (ET)	24/7
IRA CD	0.25% to 5.00% APY. Terms of 3 months to 5 years. No minimum deposit to open.
IRA Money Market	2.25% APY.
Locations	Online Only	Online only
	CreditDonkey® Reviews
Savings
Money Market
Customer Service
Checking
Mobile App
Pros & Cons	Pros: Savings with ATM card High APY All balance tiers receive same rate Cons: No checking account Limited customer service hours	Pros: CD options No account minimums Good customer service Cons: Low Checking APY for lower balance customers
Bottom Line	Good online bank offering high interest rates... Read full review	Solid online bank with a great user-friendly website and customer service... Read full review
	High Yield Savings - 4.75% APY Money Market Certificate of Deposit	Online Savings Account - 4.25% APY Money Market - 4.25% APY Interest Checking
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 04/11/2024. Ally Bank: Pricing information from published website as of 04/11/2024.

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.

In short: Synchrony Bank's savings is excellent. Ally Bank's customer service is outstanding.

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 Bank vs Chase
• Synchrony Bank vs Discover Bank

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 Bank

Ally Bank offers good interest rates and no account minimums. But is this popular online bank good for you? Learn the benefits (and drawbacks) here.

• Ally Bank vs Bank of America
• Ally Bank vs CIT Bank
• Ally Bank vs Axos Bank

Ally High Yield Savings Review

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?

You Might Also Like

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).

TIAA Bank Review: Is It Good?

If you have a large opening deposit, TIAA Bank provides a variety of options at high rates. But there are downsides. Read on to see if it's right for you.

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.