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TIAA Bank vs Ally Bank

TIAA Bank is an online bank offering high intro rates if you have a large deposit. How does it compare to Ally Bank? Read our comparison chart below.

TIAA Bank promises to deliver a yield in the top 5% of competitive accounts for their Yield Pledge accounts. Checking, savings, and CDs all require a minimum of $5,000. High introductory APY for the first year, but on-going APY drops. All accounts have no monthly service fees.

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 TIAA Bank with Ally Bank, side-by-side. Read on for an in-depth look, including ratings, reviews, pros and cons.

 Ally Bank
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TIAA Bank

Ally Bank

SPECIAL OFFER
Yield Pledge Checking - Learn More

Read TIAA Bank Review

SPECIAL OFFER
Online Savings Account - Learn More

Read Ally Bank Review

 

Benefits and Features

Savings 1.70% APY. No monthly service fee and no minimum deposit.
CDBasic CD: 1.25% - 1.95% APY. Terms of 3 months to 5 years. Minimum deposit of $1,000. Yield Pledge CD: 1.50% - 2.20% Terms of 3 months to 5 years. Minimum deposit of $5,000. No monthly service fee.0.75% to 2.15% APY. Terms of 3 months to 5 years. 12-month CD APY of 2.00%. No minimum deposit to open.
CheckingYield Pledge Checking: 0.25% - 0.65% APY depending on balance. 1-year 1.01% intro APY on balances up to $250,000. Minimum deposit of $5,000. No monthly service fee.0.10% APY under $15,000; 0.50% APY $15,000 or more. No monthly service fee and no minimum deposit. Ally will refund ATM fees for other banks up to $10 per statement cycle.
Money Market1.01% - 1.70% APY depending on balance. 1-year 1.85% intro APY on balances up to $250,000. No monthly service fee. Minimum deposit of $500.0.75% APY. No monthly service fee and no minimum deposit.
Customer Service 
24/7
ATMs Over 43,000 no-fee Allpoint ATMs
Locations 
Online Only
 

CreditDonkey® Reviews

 Ally Bank
Savings
CD
Checking
Money Market
Customer Service
Mobile App
Pros & ConsPros:
  • High intro APY
  • No monthly service fees
  • Refund ATM fees
Cons:
  • Large minimum deposit
  • Intro rate only for one year
Pros:
  • CD options
  • No account minimums
  • 24/7 customer service
Cons:
  • Low Checking APY for lower balance customers
Bottom LineOnline bank offering high intro rates if you have a large deposit... Read full reviewSolid online bank with a great user-friendly website and customer service... Read full review

Blank fields may indicate the information is not available, not applicable, or not known to CreditDonkey. Please visit the product website for details.

Ally Bank: Pricing information from published website as of 12/07/2019.

Which is Better: TIAA Bank or Ally Bank?

Still need help deciding which bank is better? Read the in-depth reviews below. You may also be interested in comparing TIAA Bank or Chase.

In short: Ally Bank's mobile app is outstanding.


Articles on TIAA Bank


Articles on Ally Bank


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