<prompt> Human: How often does money in a savings account such as Ally or Synchrony Bank gain interest? I just opened an account and am curious whether I will have to wait the full year to see any gains from interest.  <response>: With Ally the interest compounds daily, but is paid monthly. I dont know about the other bank, but on Ally monthly statements you will see the sum of daily compounded interest for the last month as a deposit to the account. 