Bank of America savings versus a high-yield account

Compare the rate available to your address, the fees you would pay, and how you want to access your money. The bank’s Advantage Savings account should be evaluated using its current disclosures.

Check your actual rate

Bank of America asks for a ZIP code to provide location-specific rate and fee information. We have not confirmed a numeric APY for your location, so we do not present a nationwide rate or promise a fixed earnings gap. Check Advantage Savings rates and disclosures.

Account fees and waivers

The provider lists an $8 monthly maintenance fee, with a six-month waiver for new accounts. Ongoing waiver options include a $500 minimum daily balance, an eligible relationship account, qualifying BofA Rewards tiers, or an owner under 25. Exceptions apply; confirm the current fee schedule for your account.

Compare convenience with earnings

Advantage Savings includes access to the bank’s financial-center network and features such as mobile check deposits and automatic transfers. Compare that access with an online account’s transfer methods, holds and withdrawal limits. A convenient account can still be costly if you regularly incur a fee.

For a simple illustration, a 1 percentage-point APY difference on $10,000 is about $100 over one year if rates stay unchanged and there are no withdrawals or fees. This calculation is not a quoted rate. Use the compound-interest calculator with the actual terms offered to you.

Source: Bank of America’s linked account page, checked September 11, 2026. The comparison below uses the same dated provider observations as our savings hub.