Yotta Savings vs Ally Bank: Who wins?

Steve Cummings

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Let’s begin to talk about savings accounts. First of all, savings accounts are the place you want to save your money for like an emergency fund. It is a good place to park your money until needed. Usually, an emergency fund is anywhere from 3-6 months worth of expenses. Let’s talk about two different savings accounts: Yotta savings vs Ally Bank. 

These happen to be the two banks I use for my savings accounts. After much review of Yotta Savings, I can see the appeal and even the APY of it being a good thing. Let’s break these two down. 

First of all, let’s talk about Yotta Savings. They are the new kid on the block and therefore it will be a bit of a longer explanation.

What is Yotta Savings:

Yotta Savings is a savings account that features a game-like experience. They got the idea from the U.K. It makes savings like a lottery.

For every $25 deposited you will receive 1 recurring ticket every week. These tickets give you a chance to win up to $10,000,000. That is a whole lot of money. 

The odds of winning $10,000,000 are not great like 1 in 8,000,000. You do have opportunities to win money. That is what makes it so much fun in saving. 

If you do not win any money, you will have the chance to earn a 0.20% APY on the amount of money that is in the account. That beats most of the big banks around the country. You could do worse. 

Just remember there are no fees or minimums that you need in this account. You can also withdraw your money whenever you want. So it basically is a regular savings account. 

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How does Yotta Savings Earn you money?

Yotta Savings Rates odds

For every $25 you deposit, you will receive a 7 number ticket. Each night at around 9 p.m. there will be numbers drawn. 

On Sunday night, the last number will be drawn. This is called the Yotta ball. If you win this number you will win some money. Earnings for the amount of balls you have differ depending on if you win a yotta ball. 

Just last week, I earned $0.25 for matching just 3 numbers. I did not get the Yotta ball, but I still earned some sort of prize money. 

For the month of October, I earned 3.3%. The month of November it was 1.09%. Each month is different, but you have a chance of earning a good percentage on your savings account. 

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How are these numbers picked?

Yotta uses a third party insurance company that chooses the number each night. It is totally random. The insurance company has no affiliation with Yotta. So it is completely a secure system of picking numbers.

Will my money be safe in one of these accounts?

Absolutely! Yotta Savings holds their money in a bank called Evolve Bank and Trust, which is a 90 year old bank. Your money is FDIC insured up to $250,000. These funds are completely secure. 

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Let's look at some Pros and Cons


  • 0.20% APY with a chance of winning more. 
  • The thrill of winning prizes
  • Being able to refer some friends and family in order to receive more tickets
  • Debit Card added.


  • Must deposit money in $25 at a time
  • There is the possibility that they add more numbers decreasing your rate of winning.

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Ally Bank

Ally Bank is an online bank that has it all. 

  • They have checking accounts
  • There are savings accounts
  • Investing accounts 
  • Money markets
  • CDs

Ally bank is like a regular bank, except they do have buildings like your regular brick and mortar bank. The great thing about Ally bank is their customer service. It is hands down one of the best in the business. 

Through all of my years, Ally bank has been one of the best decisions I have made with banking. There are no fees on checking accounts. There are no minimums you will need to be held in your account. Quite simply it is a great bank to be with.

Ally Bank’s Savings Account:

Ally’s bank account is like a regular bank account. You can automate deposits from a checking account. The app is pretty straightforward with a great interface. 

The only bad thing I have been seeing is the drop in the interest rate. As the national interests rates have dropped so has Ally Bank’s interest rate. It is sitting at 0.50% APY. It is not bad, but I wish it was better. Just over the summer the rate was sitting at 0.80%.


  • Full bank offerings
  • Investment Account
  • Automatic Savings
  • Great Customer Service


  • Limited to 6 transfers or Withdrawals a month
  • 0.50% APY
  • No thrills or prizes like Yotta

Yotta Savings vs Ally Bank:

What is the best for you? Personally, I bank with both. I like the savings account with Ally, but with the reduced APY I went looking for a better place to part some money. That is how I discovered Yotta Savings. 

Yotta Savings gives the opportunity to win prizes and earn more money on the money sitting in the account. Like I said, I earned 3.3% APY in October, and I earned 1.09% APY in November. 

Ally is the safe conservative one that you know what you will get. Great customer service with a 0.50% APY. It is not sexy, but it works. 

What would your choice be? Yotta Savings vs Ally Bank. Let me know.

” Spend less than you make, stay out of debt, and invest the rest”

2 thoughts on “Yotta Savings vs Ally Bank: Who wins?”

  1. Great review! For the savvy savers out there, I calculate the latest expected APY for Yotta to be 2.19% overall and 1.85% considering only the base prizes. It’s a fantastic option right now, especially compared to other online savings accounts which has much lower yields. Would recommend putting up to $25k there as you say.

    • Thank you. It is a great option. As I see many other options are lowering their APY, it became apparent to find new options. I honestly really like Yotta Savings. It is a fun way to keep saving. They look like they are constantly getting better.


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