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Ally Bank and Capital One 360 are two online banks that offer higher annual percentage yields, or APYs, than most traditional banks. If you’re looking to earn more on your savings (and pay fewer fees), they’re both worth a look — and you’ll still find a variety of accounts and easy access to customer service. But which is for you? Our head-to-head comparison can help you decide.
Snapshot comparison
Ally Bank | Capital One 360 | |
---|---|---|
Checking accounts | Ally Spending Account
| Capital One 360 Checking
|
Savings accounts | Ally Savings
| Capital One 360 Performance Savings
|
Certificates of deposit | Ally CD interest rates
| Capital One 360 CD interest rates
|
Overdrafts, ATMs, customer service | Ally Bank details | Capital One 360 details |
Choose Ally if:
You want monthly fee reimbursements for out-of-network machines.
You'd make use of 24/7 live help.
Choose Capital One 360 if:
You're looking to receive some assistance at a branch.
Ally vs. Capital One 360: Checking accounts
Ally Spending Account | Capital One 360 Checking | |
---|---|---|
Monthly fees | $0. | $0. |
Minimum opening deposit | $0. | $0. |
APY |
|
|
ATM fees and network |
|
|
Sign-up bonus | None. | None. |
» See more options on our list of best checking accounts
Ally vs. Capital One 360: Savings accounts
Ally Savings | Capital One 360 Performance Savings | |
---|---|---|
APY | 4.25% APY on all balances. | 4.35% APY on all balances. |
Monthly fees | $0. | $0. |
Minimum deposit to open | $0. | $0. |
Sign-up bonus | N/A | N/A |
» Want to compare? Explore NerdWallet's list of top online savings accounts
Ally vs. Capital One 360: Certificates of deposit
Ally | Capital One 360 | |
---|---|---|
Minimum opening deposit | $0. | $0. |
APY on one-year term | 4.50% APY. | 4.90% APY. |
APY on three-year term | 4.00% APY. | 4.10% APY. |
APY on five-year term | 3.90% APY. | 4.00% APY. |
For more details: | See our post on Ally CD rates | See our post on Capital One CD rates |
» To compare, see the latest top CD rates
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NerdWallet rating
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Two excellent options
Ally and Capital One 360 are both strong options, but your specific needs should dictate which bank you choose. If, for example, you prefer occasional in-person customer service, go with Capital One 360. If you're looking for 24/7 phone assistance, Ally would be a good fit. If neither sounds quite right, check out NerdWallet's other favorite banks and credit unions.
On a similar note...
Find a better savings account
See NerdWallet's picks for the best high-yield online savings accounts.
⏰ Limited-time offer
4.60%
With $0 min. balance for APY
$400
Limited-time offer
Up to $300 cash and $100 in rewards points. Terms apply.