Ally Bank Money Market Account Earns 3.85% APY (Nationwide)

Ally Bank is another great online-only bank, and offers nationwide online Checking, Savings, Money Market, CD and IRA accounts that earn market leading rates.

• Update 11/23/24: their rate decreased slightly to 3.75%. Consider this one from Quontic, which currently offers a higher rate.
• Update 10/16/2024: The rate decreased to 4.00% APY.
• Update 4/26/2024: Rate reduced to 4.20% APY.
• Update 8/10/2023: Rate has increased to 4.40% APY.
• Update 7/27/2023: Rate has increased to 4.30% APY.
• Update 5/23/2023: The APY rate increased from 4.00% to 4.15%.
• Update 3/29/2023: The APY rate increased from 3.80% to 4.00%.
• Update 3/14/2023: The APY rate increased from 3.50% to 3.80%.
• Update 2/27/2023: The APY rate increased from 3.40% to 3.50%.
• Update 2/3/2023: They raise the APY rate for the money market account from 3.30% to 3.40%.
• Update 12/16/2022: The APY rate increased to 3.30%

Ally Bank is an internet-only bank based in Utah and offers a wide variety of deposit accounts, as well as auto financing services.

See Posts History below for more offers from Ally.

Ally Bank Money Market Account Details

• Availability: Online, nationwide
• Minimum to earn APY: $1
• No monthly maintenance fees or minimum balance requirements.
• Use any Allpoint ATM in the U.S. for free. Make unlimited ATM withdrawals at one of 43,000+ Allpoint ATMs for free. They’ll even reimburse up to $10 per statement cycle for fees charged at other ATMs nationwide.
• Interest is compounded daily
• Deposits are insured by the FDIC up to the maximum allowed by law.
• With Ally eCheck Deposit℠ you can deposit checks right from your smartphone.
• 24/7 support. Call, chat, or email any time.

Opening An Account

• They’ll need some personal details like your address, contact information and social security number.
• There’s no minimum amount to open an account, but the faster you fund, the sooner you’ll earn interest.
• Access your account online right away.

READ MORE: WELCOME OFFERS FROM CHASE AND BMO.

Bottom Line

Compare rates with other top money market accounts here.

Posts History:

• Best Socially Responsible & Ethical Banks January 2025
• Ally Bank Referral & $100 Welcome Bonus – Ends 12/31/24
• Ally Bank Referral Promotion: Get $50, Give $125 Sign Up Bonus – Ended
• Ally Invest $100 Bonus for Self-Directed Trading Account [Targeted] – Ends 12/31/24
• Ally “Saving for That Ad” Sweepstakes (Win Prizes Up to $65,000!) – Ends 2/15/24
• Ally Bank Bonus: $100 Checking Bonus From Swagbucks
• Earn Up To 5.15% APY: Ally Bank’s Best Online CD Account Rates (Available Nationwide)
• Ally Bank Checking/Savings Account $250 Bonus Promo Code ALLYAUTO1 Auto Loan Customers (Nationwide) – Ends 12/31/23
• Ally Bank Checking Account $200 Bonus Offer (Nationwide) – Ended
• Ally Bank Savings Account Up To $500 Bonus (Nationwide) – Ended
• Ally Credit Cards Launch: Unlimited Cash Back, Everyday Cash Back, Platinum Mastercard

READ MORE: SEE THE BEST BANK BONUSES HERE AND THE BEST INVESTING BONUSES HERE.