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Savings comparison

Ally vs SoFi

Updated

Ally checked SoFi checked

Ally Bank Savings logo

Ally

Savings account

Visit site for Ally Bank Savings (opens in a new tab)
App Store marketing images, as of Oct 24, 2026
Ally App Store image of the home screen
Ally App Store image of a spending account
Ally App Store image of savings buckets
SoFi Checking and Savings logo

SoFi

Savings account

Visit site for SoFi Checking and Savings (opens in a new tab)
App Store marketing images, as of Oct 24, 2026
SoFi App Store image of the home screen
SoFi App Store image of the Banking screen
SoFi App Store image of the Invest screen

Ally and SoFi both offer high-yield savings accounts from banks that hold your deposits themselves. The big difference is what it takes to earn the advertised rate.

Full disclosure: Taylor Price, who runs Priceless Tay, owns Fifecta, so keep that in mind as you read this comparison.

Our take

Pick SoFi if your paycheck already lands there by direct deposit, and pick Ally if you want one rate on every balance with no direct deposit needed, plus buckets to organize your savings.

Priceless Tay

Short answer

Ally pays the same variable rate on every balance, with no minimum balance and no monthly maintenance fees. SoFi pays a higher variable rate when you have eligible direct deposit or enough qualifying deposits, and a much lower rate without them. Choose SoFi if you'll meet its terms, and Ally if you want one simple rate.

Ally vs SoFi at a glance

  • Ally Bank Savings logoAlly

    Top rate
    3.20%APY
    Rating
    4.7 of 5App Store, 114,147 ratings
    Platforms
    3Web, iOS, Android

  • SoFi Checking and Savings logoSoFi

    Top rate
    0.80% to 3.30%APY
    Rating
    4.7 of 5App Store, 385,426 ratings
    Platforms
    2iOS, Android

What it costs

Bars show only when every app here lists a yearly price, so these prices sit side by side without them. Prices are list prices from each app's own page, before tax and any offer.

Features

Features each app's official source states, yes or no.
FeatureAllySoFi
Savings goals Yes Yes
Data export Yes Yes

SoFi also lists AI features and investment tracking.

Sources for these features

Yes means the official site lists it. No means the official site says the app doesn't have it.

Ally Bank Savings and SoFi Checking and Savings, side by side

Ally and SoFi compared. Each value's source and the date we checked it open from its Source link.
APY or rateDiffers
AllyAlly lists 3.20% APY, correct as of Oct 23, 2026. The rate is variable.Ally says the same APY applies across all balance tiers, with no minimum balance requirement.
Sourceally.com/bank/online-savings-account, checked .
SoFiSoFi lists 3.30% APY with eligible direct deposit or $5,000 in qualifying deposits, and 0.80% APY without them, in rates effective Oct 20, 2026. The rate is variable.You need eligible direct deposit, or $5,000 in qualifying deposits every 31 days, to earn the 3.30% APY.
Sourcesofi.com/legal/banking-rate-sheet, checked .
Opening and balance minimumsDiffers
AllyAlly requires a $0 minimum opening deposit and has no minimum balance requirement.
Sourceally.com/bank/online-savings-account, checked .
SoFiSoFi says there is no minimum balance requirement.
Sourcesofi.com/banking/high-yield-savings-account, checked .
ProtectionDiffers
AllyAlly Bank is a Member FDIC, and deposits are insured up to the maximum allowed by law.
Sourceally.com/bank/online-savings-account, checked .
SoFiSoFi Bank, N.A. is a Member FDIC.
Sourcesofi.com/banking/high-yield-savings-account, checked .
PlatformsDiffers
AllyAlly Bank Savings lists Web, iOS and Android.
Sourceally.com/bank/online-banking, checked .
SoFiSoFi Checking and Savings lists iOS and Android.
Sourcesofi.com/app-download, checked .
App store ratingDiffers
AllyAlly Bank Savings has 4.7 out of 5 on the App Store from 114,147 ratings.
SourceApp Store listing, checked .
SoFiSoFi Checking and Savings has 4.7 out of 5 on the App Store from 385,426 ratings.
SourceApp Store listing, checked .

Store ratings are a dated snapshot from each listing, not our score. A row shows only when both apps have a current official source for it. How we source and date this data. Spotted a change? Tell us if something changed.

Weighing a third option? Add up to two more apps and compare up to four side by side.

Summary of how Ally and SoFi compare on category, platforms and features, from Priceless Tay.
A summary graphic of the table above, without prices or rates.

Screen by screen

Pick a task to see what each app shows for it. App Store and Google Play images are the apps' own marketing, so they can show sample data and staged layouts. Help center images come from the app's support articles. See every app's screens.

Home

Ally Bank Savings logoAlly Bank Savings

  • Ally App Store image of the home screen
    App Store marketing imageApp Store image with the headline "Your app for all things ally." showing a home screen with a total balance, vehicle financing and bank accounts.App Store listing, as of
  • Ally home screen with total balance, vehicle and bank accounts
    App Store marketing imageThe home screen: Good Morning, Alex with a $8,431.78 total, a Vehicles section with Alex's SUV at $358.00 due and a Make a Payment button, then Bank Accounts at $5,421.48 with a Spending account.App Store listing, as of
  • Ally iPad App Store image of the home screen
    App Store marketing imageiPad App Store image with the headline "Your app for all things ally." showing the home screen on a tablet.App Store listing, as of
  • Ally iPad home screen
    App Store marketing imageThe iPad home screen: Good Morning, Alex with What's New and Status Tracker chips, $11,300.00 total, then Vehicles, Bank Accounts and Invest Accounts sections.App Store listing, as of
  • Ally greeting with total balance
    App Store marketing imageGood Morning, Alex above a $8,431.78 Total.App Store listing, as of

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi App Store image of the home screen
    App Store marketing imageApp Store image with the headline "Own crypto, bank, borrow, and invest." showing a home screen with Banking, Invest and Relay insights.App Store listing, as of
  • SoFi home screen
    App Store marketing imageThe home screen: Good morning, Sammy with 250 pts and Get $75 chips, Banking $27,282.12, Invest $38,651.40 up $579.76 today, Crypto and Personal loans tiles and Relay insights.App Store listing, as of

Accounts

Ally Bank Savings logoAlly Bank Savings

  • Ally App Store image of a spending account
    App Store marketing imageApp Store image with the headline "Our Spending Account has your cash covered." showing a spending account with Transfer and Menu buttons.App Store listing, as of
  • Ally App Store image of vehicle financing
    App Store marketing imageApp Store image with the headline "Put yourself in the driver's seat." showing vehicle financing amounts due.App Store listing, as of
  • Ally Spending account screen with Transfer button
    App Store marketing imageAlex's Spending account ending 5668: available balance $991.56, current balance $1,991.56, a Transfer button, a Menu button and Deposit checks, Zelle and Manage card chips.App Store listing, as of
  • Ally vehicle financing accounts
    App Store marketing imageVehicles with Vehicle Financing: a 2023 vehicle with $450.00 due and a 2019 Tacoma with $270.00 due shown in a callout, a Make a Payment button and Bank Accounts at $16,400.00.App Store listing, as of

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi App Store image of the Banking screen
    App Store marketing imageApp Store image with the headline "Mobile banking made easy." showing a Banking screen with checking and savings balances.App Store listing, as of
  • SoFi Banking tab with balances
    App Store marketing imageThe Banking tab: $51,526.90 total available balance, Checking $4,256.90 and Savings $47,270.00, Transfer, Deposit, Pay and Zelle buttons, and Activity with a scheduled -$500.00 transfer to savings.App Store listing, as of
  • SoFi Banking tab on iPad
    App Store marketing imageThe iPad Banking tab: $51,526.90 available, Checking and Savings, Transfer, Deposit, Pay and Zelle, offer cards for referrals and cash back, and Activity.App Store listing, as of

Transactions

Ally Bank Savings logoAlly Bank Savings

No official screen found yet

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi activity list
    App Store marketing imageActivity with Checking and Savings tabs, a Statements link and a scheduled Transfer to Savings of -$500.00 from Checking 1234 on March 19, 2022.App Store listing, as of

Budget

Ally Bank Savings logoAlly Bank Savings

No official screen found yet

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi spending pace chart
    App Store marketing imageSpending pace to target: $7,000, overspent $1,000, with a line crossing a dashed $6,000 target from July 1 to July 31.App Store listing, as of

Goals

Ally Bank Savings logoAlly Bank Savings

  • Ally App Store image of savings buckets
    App Store marketing imageApp Store image with the headline "Stash cash in our savings buckets." showing savings buckets and a 60% complete card.App Store listing, as of
  • Ally savings buckets screen
    App Store marketing imageSavings tools with Buckets and Boosters tabs, buckets for Vacations $3,985.11, Tax Payments $1,255.00 and Auto Insurance $898.25, and a "Goin' places" bucket at 60% Complete shown in a large callout.App Store listing, as of
  • Ally savings buckets list
    App Store marketing imageBuckets and Boosters tabs with three buckets: Vacations $3,985.11, Tax Payments $1,255.00 and Auto Insurance $898.25.App Store listing, as of

SoFi Checking and Savings logoSoFi Checking and Savings

No official screen found yet

Reports and insights

Ally Bank Savings logoAlly Bank Savings

No official screen found yet

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi Relay insights cards
    App Store marketing imageRelay insights: Spending $1,282.12, pacing high this month, and Net worth $1,278,220.50 across 2 SoFi and 13 external accounts, each with a small line chart.App Store listing, as of
  • SoFi credit score card
    App Store marketing imageA Credit score card: 732, Good, updated Jul 25, "Holding steady" with no changes in the past 7 days and a red to green bar.App Store listing, as of

Investments

Ally Bank Savings logoAlly Bank Savings

  • Ally App Store image of an investment account
    App Store marketing imageApp Store image with the headline "Yes, you can invest." showing an investment account value and summary.App Store listing, as of
  • Ally Invest account screen
    App Store marketing imageAn Individual Account ending 1234 with an account value of $4,151.61, Transfers, Activity and Watchlist buttons and a Summary with market value, gains, buying power and Orders.App Store listing, as of

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi App Store image of the Invest screen
    App Store marketing imageApp Store image about SoFi's brokerage rating showing an Invest screen with a value chart.App Store listing, as of

Transfer and send

Ally Bank Savings logoAlly Bank Savings

  • Ally Transfer, Deposit checks, Zelle and Manage card buttons
    App Store marketing imageA Transfer button and a Menu button, with Deposit checks, Zelle and Manage card chips below.App Store listing, as of

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi Transfer, Deposit, Pay and Zelle buttons
    App Store marketing imageFour buttons: Transfer, Deposit, Pay and Zelle.App Store listing, as of

AI assistant

Ally Bank Savings logoAlly Bank Savings

No official screen found yet

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi App Store image of the Coach screen
    App Store marketing imageApp Store image with the headline "Meet SoFi Coach." showing a Coach screen with prompts for support, taxes and optimizing.App Store listing, as of
  • SoFi App Store image of a spending trend chat
    App Store marketing imageApp Store image with the headline "Your money questions, answered." showing a July spending trend chat with a pace chart.App Store listing, as of
  • SoFi Coach start screen
    App Store marketing imageThe Coach Beta screen: "I'm Coach. How can I help?" with Support, Taxes and Optimize prompt cards such as "Where should I put my tax refund?"App Store listing, as of
  • SoFi Coach spending chat
    App Store marketing imageA July spending trend chat: "How am I spending this month?" answered with a Spending pace to target card at $7,000, overspent $1,000, and follow-up chips such as Where am I spending the most?App Store listing, as of

Other screens

Ally Bank Savings logoAlly Bank Savings

  • Ally App Store image of Loyally Rewards
    App Store marketing imageApp Store image with the headline "Boost your balance with Loyally." showing a Loyally Rewards screen.App Store listing, as of
  • Ally App Store image of credit score tracking
    App Store marketing imageApp Store image with the headline "Free credit score tracking." showing a credit score of 771 and a history chart.App Store listing, as of
  • Ally App Store image of a Find ATMs map
    App Store marketing imageApp Store image with the headline "Grab cash, fee-free." showing a Find ATMs map.App Store listing, as of
  • Ally Loyally Rewards screen
    App Store marketing imageLoyally Rewards: Welcome, Alex with $250.00 total earned, and a card explaining Bonus cash, Ally extras and Referral codes.App Store listing, as of
  • Ally credit score overview
    App Store marketing imageCredit score Overview provided by Equifax: 771, up 23, rated Great on a 300 to 850 bar, a line chart from May to January and personal info rows.App Store listing, as of
  • Ally Find ATMs map
    App Store marketing imageFind ATMs with Map and List tabs and a city map with numbered ATM pins.App Store listing, as of
  • Ally credit score bar showing 771
    App Store marketing imageA 771 score, up 23, labeled Great on a red to green bar marked 300, 560, 750 and 850.App Store listing, as of

SoFi Checking and Savings logoSoFi Checking and Savings

  • SoFi App Store image of SoFi Plus
    App Store marketing imageApp Store image with the headline "Save more with the NEW SoFi Plus." showing a Welcome to SoFi Plus screen.App Store listing, as of
  • SoFi referral and cash back offer cards
    App Store marketing imageOffer cards: share a referral link to earn $75 with a Share link button, and earn cash back rewards with a See offers button.App Store listing, as of

How Ally and SoFi savings differ

Ally says the same APY applies across all balance tiers, with a $0 minimum opening deposit and no minimum balance. Its savings buckets let you set aside money for different goals inside one account. Ally says joint owners can each set up their own login.

SoFi's rate sheet lists one rate for members with eligible direct deposit or $5,000 in qualifying deposits every 31 days, and a lower standard rate for everyone else. SoFi sells savings and checking together as SoFi Checking and Savings, and it says its joint bank account helps two adults build toward the future as a team.

Both banks are Members FDIC. You can look up any bank on the FDIC's BankFind tool (2026). The table above shows each current rate with the date we checked it. Rates are variable and change often.

Which one fits your Money Type?

Priceless Tay sorts money habits into four Money Types: Strategist, Spender, Saver and Scrambler. Your type tells you which fix to make first, and it's a quick way to judge whether an app will help you or just look nice.

  • Strategists: Compare each bank's rate for your real situation, not the headline rate, before moving money.
  • Spenders: A separate savings account, away from your spending card, makes impulse buys slower. Pair it with the Spender first fix, Sleep on It.
  • Savers: Either account works as a home for your emergency fund, as long as the extra goes somewhere it can grow. Pair it with the Saver first fix, Put It to Work.
  • Scramblers: Set your savings transfer for payday, right after the bills are covered. Pair it with the Scrambler first fix, Bills First.

Not sure which one you are? Take the free Money Types quiz. It takes about two minutes.

Who each app fits

Who Ally Bank Savings is for

Who Ally Bank Savings fits

  • You want one rate on every balance, with no conditions to meet.
  • You like organizing savings into buckets for different goals.
  • You don't want minimum balances or monthly maintenance fees.

Who should skip Ally Bank Savings

  • You need business banking, which Ally says it doesn't offer.
  • You want the highest rate and will meet another bank's terms to get it.
  • You want your savings rate to reward direct deposit.

Who SoFi Checking and Savings is for

Who SoFi Checking and Savings fits

  • Your paycheck can land at SoFi by direct deposit.
  • You want checking and savings at the same bank.
  • You're comfortable meeting the terms for the higher rate.

Who should skip SoFi Checking and Savings

  • You won't set up direct deposit or keep enough qualifying deposits.
  • You want a single rate with no conditions.
  • You don't want your rate to depend on how you're paid.

Who it's for

Pick the tab that sounds like you. Every answer comes from the app's own pages, and its source opens from the Source link.

Just me

Budgeting on your own? These are the basics people ask about first.

Partners

Sharing money with a partner? Here's how each app handles a second person.

Family

Bringing in more of the household? Here's what each app says about families and kids. See apps with custodial accounts for kids.

Business

Running a small business? Here's what each app says about business money.

A question shows only when every app here has a current official source that answers it. We only say no when the app's own page does.

Full disclosure: Taylor Price, who runs Priceless Tay, owns Fifecta, so keep that in mind as you read this comparison.

Another option: Fifecta

If neither Ally nor SoFi feels right, here is one more option to look at. Fifecta gives every paycheck a plan with FUNDS, and it starts from your Money Type, so the plan matches how you already handle money.

Try Fifecta free

What real users say

These are other people's opinions, not Priceless Tay's. We quote public reviews and posts word for word, link each one and show its date, but we haven't checked the claims in them. A post counts toward a theme when it uses one of that theme's keywords, so a mention can be praise or a complaint.

What Ally users say

Based on 500 App Store reviews and 3 Reddit posts dated May 2026 to Oct 2026, read Oct 2026. We collected the Reddit data with Apify, a scraping service, on Oct 24, 2026.

  • Of the 503 reviews and posts we read, 116 mention how easy or hard the app is to use.
  • Of the 503 reviews and posts we read, 102 mention deposits, transfers or getting paid.
  • Of the 503 reviews and posts we read, 53 mention bugs, crashes or the app not working.

Positive

“Intuitive app, no fees at ATMs, free checks, & great rates on savings.”
App Store reviewer on the App Store, . See the App Store reviews. Apple doesn't give single reviews their own link, so this opens the app's reviews.

Positive

“Very user friendly and the savings buckets are a game changer”
App Store reviewer on the App Store, . See the App Store reviews. Apple doesn't give single reviews their own link, so this opens the app's reviews.

Critical

“Just horrendously slow. Constantly crashes. Never loads in the first attempt to open.”
App Store reviewer on the App Store, . See the App Store reviews. Apple doesn't give single reviews their own link, so this opens the app's reviews.
Where these come from
  • Ally reviews on the App Store, read Oct 24, 2026. The public feed returns the 500 most recent US reviews. We kept every one dated inside the window.
  • Hacker News search for Ally, read Oct 24, 2026. Public search of comments and posts. 6 named the app; we kept 0 where the writer shares their own use of it.
  • Reddit search for Ally, collected Oct 24, 2026. Collected with Apify (harshmaur/reddit-scraper) on Oct 24 2026: a keyword search for "Ally savings account", posts and comments from after Oct 24 2025. It returned 92, most of them about something else. We kept 3 where the writer shares their own use of the app or a clear opinion of it. We left out moderators, bots, company accounts, referral posts and people promoting their own apps.
  • YouTube search for Ally, collected Oct 24, 2026. Collected with Apify (streamers/youtube-scraper) on Oct 24 2026: a search for "Ally savings account review" from the past year, up to 8 videos. It returned 8. We kept 0 and left out the app's own channel, sponsored videos, videos with affiliate or referral links and videos about a different product. We count themes from each video's title, description and captions, but we don't quote videos, because the captions we have carry no timestamps.
  • u/plantsandramen in r/WaterCoolerWednesday on Reddit, Oct 23, 2026.
  • u/yumi021 in r/personalfinance on Reddit, Oct 21, 2026.
  • u/mbens in r/AllyBank on Reddit, Oct 19, 2026.

What SoFi users say

Based on 500 App Store reviews, 1 Reddit post and 1 Hacker News post dated Apr 2026 to Oct 2026, read Oct 2026. We collected the Reddit data with Apify, a scraping service, on Oct 24, 2026.

  • Of the 502 reviews and posts we read, 85 mention deposits, transfers or getting paid.
  • Of the 502 reviews and posts we read, 74 mention how easy or hard the app is to use.
  • Of the 502 reviews and posts we read, 70 mention customer service or support.

Positive

“Most user friendly banking app there is. Been a member for years. Every year they add something new”
App Store reviewer on the App Store, . See the App Store reviews. Apple doesn't give single reviews their own link, so this opens the app's reviews.

Critical

“If you think an online bank is better than a brick and mortar just wait until you need customer service...”
App Store reviewer on the App Store, . See the App Store reviews. Apple doesn't give single reviews their own link, so this opens the app's reviews.

Positive

“my favorite is sofi. i personally use them as a bank...”
u/theyhis in r/budgetingforbeginners on Reddit, . Read it on Reddit.
Where these come from
  • SoFi reviews on the App Store, read Oct 24, 2026. The public feed returns the 500 most recent US reviews. We kept every one dated inside the window.
  • Hacker News search for SoFi, read Oct 24, 2026. Public search of comments and posts. 8 named the app; we kept 1 where the writer shares their own use of it.
  • Reddit search for SoFi, collected Oct 24, 2026. Collected with Apify (harshmaur/reddit-scraper) on Oct 24 2026: a keyword search for "SoFi checking savings", posts and comments from after Oct 24 2025. It returned 81, most of them about something else. We kept 0 where the writer shares their own use of the app or a clear opinion of it, plus 1 from another app's search that discusses this app. We left out moderators, bots, company accounts, referral posts and people promoting their own apps.
  • YouTube search for SoFi, collected Oct 24, 2026. Collected with Apify (streamers/youtube-scraper) on Oct 24 2026: a search for "SoFi checking and savings review" from the past year, up to 8 videos. It returned 8. We kept 0 and left out the app's own channel, sponsored videos, videos with affiliate or referral links and videos about a different product. We count themes from each video's title, description and captions, but we don't quote videos, because the captions we have carry no timestamps.
  • u/theyhis in r/budgetingforbeginners on Reddit, Oct 21, 2026.
  • imzadi on Hacker News, Jul 28, 2026.

Try the free Savings Goal Calculator

Find out how long it takes to hit a cash goal at your monthly pace. Open the Savings Goal Calculator on its own page.

FAQ

Do I need direct deposit to earn SoFi's higher rate?

You need eligible direct deposit or $5,000 in qualifying deposits every 31 days, according to SoFi's rate sheet. Without either one, SoFi pays a lower standard rate. The table above shows both rates with the date we checked.

Does Ally require a minimum balance?

No. Ally says its savings account has a $0 minimum opening deposit and no minimum balance requirement.

Are Ally and SoFi FDIC insured?

Yes. Ally Bank and SoFi Bank, N.A. are both Members FDIC. You can confirm any bank on the FDIC's BankFind tool.

Do these savings rates change?

Yes. Both rates are variable and can change at any time. That's why every rate on this page shows the date we checked it.

Can I organize my savings into goals?

Yes, at both banks. Ally's savings buckets let you set aside money for different goals inside one account. SoFi's savings page lists savings goals too, and it says you can save toward shared goals by adding a joint account holder.

Can I export my transactions from Ally or SoFi?

Yes. Ally says you can download your account activity as a CSV or Quicken (QFX) file, and SoFi says you can export your Checking and Savings transactions to a CSV file at any time.

More comparisons

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Full disclosure: Taylor Price, who runs Priceless Tay, owns Fifecta, so keep that in mind as you read this comparison.

Want a plan built on your Money Type?

Fifecta gives every paycheck a plan with FUNDS, so you know where each dollar goes.

Try Fifecta free

Sources and confidence

Last checked
Sourced facts
14 facts, each linked and dated
Ally Bank Savings7 sourced facts, last checked Oct 25, 2026
SoFi Checking and Savings7 sourced facts, last checked Oct 25, 2026

Each fact links to the official page it came from, with the date we checked it. Once a fact is older than its app's window (8 days for apps whose rates change often, 35 days for the rest), it comes off the page until we check it again. How we source, date and index this data.

This is education, not financial advice.