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.

Trending Checking Account Deal:

BMO Cash Bonus: Earn an Easy $400 Checking Cash Bonus*

Open a new BMO Smart Advantage Checking or BMO Smart Money Checking account and earn a $400 cash bonus* when you receive at least $4,000 in qualifying direct deposits within the...Show More

Open a new BMO Smart Advantage Checking or BMO Smart Money Checking account and earn a $400 cash bonus* when you receive at least $4,000 in qualifying direct deposits within the first 90 days. Enjoy no monthly maintenance fees, no minimum balance requirements, and access to over 40,000 fee-free ATMs nationwide. Act now before it ends 9/8/25 Show Less

Earn $400

Go to the deal

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 AXOS AND BMO.

Bottom Line

Compare rates with other top money market accounts here.

Posts History:

• Ally Bank $300 Cash Bonus – Ends 11/18/25
• Ally Invest $100 Bonus for Self-Directed Trading Account [Targeted]
• Earn Up To 3.90% APY: Ally Bank’s Best Online CD Account Rates (Available Nationwide)
• Ally Bank Referral & $100 Welcome Bonus – Ends 12/31/25
• Best Socially Responsible & Ethical Banks January 2025
• Ally Bank Referral Promotion: Get $50, Give $125 Sign Up Bonus – Ended
• Ally “Saving for That Ad” Sweepstakes (Win Prizes Up to $65,000!) – Ends 2/15/24
• Ally Bank Bonus: $100 Checking Bonus From Swagbucks
• 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.

Reach your financial potential with Vanguard Personal Advisor. Get tailored advice to confidently achieve your financial goals. Learn more here.