Bank of America savings and CD rates
Bank of America advertises 0.04% APY on its Advantage Savings account. That is 0.34 percentage points below the national savings average of 0.38% (FDIC, Aug 2026).
Ranked #1044 of 1133 tracked savings rates by advertised APY. For a $10,000 balance it would rank #993. It was #162 three months ago.
Bank of America at a glance
| Savings | |
|---|---|
| Top savings APY | 0.04% · Advantage Savings |
| Minimum to open | $100 · Advantage Savings |
| Against the national average | 0.34 percentage points below the 0.38% FDIC savings average (Aug 2026) |
| CDs | |
| Top CD APY | 3.80% · 7 months · 7-Month Featured CD |
| Minimum to open | $1,000 · 7 months CD |
| Against the national average | 2.39 percentage points above the 1.41% FDIC 6-month CD average (Aug 2026) |
| FDIC certificate | 3510 · Charlotte, NC |
|---|---|
| Website | www.bankofamerica.com |
| Branches | 3,823 branches across 39 states |
| Availability | Available in 39 states |
Bank of America savings and CD rates
Personal
How the rate applies
IRA
Business
Rates are APY. The national savings average is 0.38% (FDIC, Aug 2026). The top tracked savings rate on Banksparency is 5.50%. Across 60 savings accounts from 58 banks in the Banksparency core savings index, the median advertised rate is 3.50%, and one account in ten advertises 4.01% or more. See the highest savings rates.
Bank of America CD rates
| Term | APY | Minimum | Product |
|---|---|---|---|
| Personal CDs | |||
| 1-2 months | 0.03% | $1,000 | 28-89 Day Fixed Term CD |
| 3-5 months | 3.00% | $1,000 | 90-179 Day Fixed Term CD |
| 6-11 months | 0.03% | $1,000 | 6-11 Month Fixed Term CD |
| 7 months | 3.80% | $1,000 | 7-Month Featured CD |
| 10 months | 2.95% | $1,000 | 10-Month Featured CD |
| 12-17 months | 0.03% | $1,000 | 12-17 Month Fixed Term CD |
| 12 months | 3.51% | $1,000 | 12-Month Flexible CD account |
| 13 months | 2.00% | $1,000 | 13-Month Featured CD |
| 18-23 months | 0.03% | $1,000 | 18-23 Month Fixed Term CD |
| 24-35 months | 0.03% | $1,000 | 24-35 Month Fixed Term CD |
| 25 months | 1.75% | $1,000 | 25-Month Featured CD |
| 36-47 months | 0.03% | $1,000 | 36-47 Month Fixed Term CD |
| 37 months | 0.11% | $1,000 | 37-Month Featured CD |
| 48-59 months | 0.03% | $1,000 | 48-59 Month Fixed Term CD |
| 60-119 months | 0.03% | $1,000 | 60-119 Month Fixed Term CD |
| 120 months | 0.03% | $1,000 | 120 Month Fixed Term CD |
| IRA CDs | |||
| 18-23 months | 0.03% | $100 | Variable Rate IRA CD |
Interactive Tool
Calculate Savings for Bank of America
All calculations are based on APY.
Savings Breakdown
- Interest Earned+$14.90(0.1%)
- Total Contributions$13,000
- Initial Deposit$1,000
Projected Balance
$14,014.90
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
What Bank of America pays on deposits
FDIC call report data
An advertised rate tells you what a new savings account earns today. It cannot tell you how the bank has priced the savings and money market deposits it already holds, over time. This section shows that. The figure is computed from the interest expense and deposit balances that every bank files with the FDIC in the same form. That is what makes it comparable across banks and across quarters.
The two figures answer different questions, so they sit side by side and are not combined.
In Q2 2026, Bank of America paid a higher average rate on savings and money market deposits than 23% of banks that reported a figure (FDIC call report). The all-bank median was 1.45%.
- Bank of America, savings and money market
- All-bank median
How to read these figures
What the average covers. It is an average across the whole bank, taken from its own quarterly FDIC call report. It covers savings accounts and money market deposit accounts, personal and business, at every balance tier. It also covers accounts that were opened years ago and keep the rate of those years. The FDIC line does not separate consumer accounts.
The second figure. The scale row also shows the average across all interest-bearing deposits: savings, interest checking, money market accounts, CDs, personal and business. That figure covers the whole deposit book. The two are shown separately and are not combined.
What the advertised rate covers. It is the rate that this bank advertises now for a new savings account. Banksparency records it from the bank's website on the date shown beside it.
Why the two differ. They measure different things, so this page shows them side by side and keeps them apart. An advertised rate applies to one account, opened now, at today's price. The average also includes older savings balances at the rates of earlier years, money market balances that were priced in a different rate environment, and business accounts. An average below an advertised rate is the usual result of that arithmetic. On its own it is not evidence about the account that you would open.
What the average is useful for. The bank files the data itself, under reporting instructions that are the same for every filer, and the same computation runs for every bank on this site. That makes it comparable in a way that an advertisement is not. Two things on this page read it: the percentile, which shows where the quarter sits among all filers, and the chart, which shows the direction the figure has moved across quarters.
What the average cannot tell you. It cannot tell you the rate that you would earn. No single customer earns the average. For your rate, read the advertised rate above and the rate tables on this page, each with the date it was observed.
What to do next. Use the advertised rate to work out what a new account earns. Use the chart to see how the quarterly average has moved against the all-bank median. Then compare the advertised rate against the current rates on the savings-rate tables before you open an account.
How these figures are computed
Definitions: Call Report · Rate Paid on Deposits · Interest-Bearing Deposits · Front Book and Back Book · Deposit Rate Percentile
Average annualized rates paid on savings and money market deposits, and on all interest-bearing deposits, quarterly. The FDIC line for savings includes money market deposit accounts and business savings deposits and does not separate consumer accounts. Source: FDIC call report data, as reported; it may be amended. The percentile compares all FDIC filers, count-weighted. A missing quarter is suppressed, never interpolated. The percentile counts the banks that paid strictly less on savings and money market deposits, one vote per bank, among the banks that reported a figure for the quarter.
So what is the catch?
| Product | APY | Min to open | Min to earn | Balance cap | Monthly fee | Requirements | Rate type | 12-mo trend |
|---|---|---|---|---|---|---|---|---|
| Personal | ||||||||
| Advantage Savings | 0.04% | $100 | $0 | None | $8 | None | Tiered | |
| Advantage Relationship Banking | 0.02% | $100 | $0 | None | not stated | None | Tiered | |
| Business | ||||||||
| Business Advantage Savings | 0.01% | $100 | $0 | None | not stated | None | One rate | |
Rate type: one rate applies at every balance. A tiered rate changes with your balance. A promotional rate changes after the period shown. A balance cap is the largest balance the highest rate applies to.
The 12-month trend shows the highest advertised rate observed each day and includes promotional tiers where one applied.
CDs
| Product | Term | APY | Min to open | Early withdrawal fee | Compounding |
|---|---|---|---|---|---|
| Personal CDs | |||||
| 28-89 Day Fixed Term CD | 1-2 months | 0.03% | $1,000 | not stated | not stated |
| 90-179 Day Fixed Term CD | 3-5 months | 3.00% | $1,000 | not stated | not stated |
| 6-11 Month Fixed Term CD | 6-11 months | 0.03% | $1,000 | not stated | not stated |
| 7-Month Featured CD | 7 months | 3.80% | $1,000 | not stated | not stated |
| 10-Month Featured CD | 10 months | 2.95% | $1,000 | not stated | not stated |
| 12-17 Month Fixed Term CD | 12-17 months | 0.03% | $1,000 | not stated | not stated |
| 12-Month Flexible CD account | 12 months | 3.51% | $1,000 | not stated | not stated |
| 13-Month Featured CD | 13 months | 2.00% | $1,000 | not stated | not stated |
| 18-23 Month Fixed Term CD | 18-23 months | 0.03% | $1,000 | not stated | not stated |
| 24-35 Month Fixed Term CD | 24-35 months | 0.03% | $1,000 | not stated | not stated |
| 25-Month Featured CD | 25 months | 1.75% | $1,000 | not stated | not stated |
| 36-47 Month Fixed Term CD | 36-47 months | 0.03% | $1,000 | not stated | not stated |
| 37-Month Featured CD | 37 months | 0.11% | $1,000 | not stated | not stated |
| 48-59 Month Fixed Term CD | 48-59 months | 0.03% | $1,000 | not stated | not stated |
| 60-119 Month Fixed Term CD | 60-119 months | 0.03% | $1,000 | not stated | not stated |
| 120 Month Fixed Term CD | 120 months | 0.03% | $1,000 | not stated | not stated |
| IRA CDs | |||||
| Variable Rate IRA CD | 18-23 months | 0.03% | $100 | not stated | not stated |
Opening and using the account
| Availability | Available in 39 states |
|---|---|
| Footprint | 3,823 branches across 39 states |
| App Store rating | 4.8 out of 5 |
| Google Play rating | 4.6 out of 5 |
| Zelle | Available, daily limit $3,500 |
| Eligibility | not stated |
How Bank of America behaves over time
- 12-month high
- 0.04%
- 12-month low
- 0.01%
- Advertised now
- 0.04%
- At the 12-month high
- Observed cuts, 12 months
- 0
- In a window with 3 Federal Reserve cuts
The advertised Advantage Savings rate, observed through Sep 14, 2026. The series includes promotional tiers where one applied.
Recent rate changes, as observed
- Obs. May 12, 202610-Month Featured CDCut:3.25%to2.95%
- Obs. May 12, 202625-Month Featured CDCut:2.00%to1.75%
- Obs. May 8, 202610-Month Featured CDRaise:2.95%to3.25%
- Obs. May 8, 202625-Month Featured CDRaise:1.75%to2.00%
- Advantage Savings
- The same as 90 days ago.
- 7 months CD
- The same as 90 days ago.
At the top advertised rates we observed for Bank of America's Advantage Savings, $10,000 would have grown to about $10,002 over the past year. Prices rose 3.4% in the year to July 2026 (Consumer Price Index (CPI)). So it buys as much as $9,677 did a year ago. The series includes promotional tiers where one applied. See how the federal funds rate shapes savings rates.
- Advantage Savings APY
- Banksparency savings index
- Consumer price index, year over year
- Fed rate cut
Bank of America CD rates over time
Who is Bank of America?
| Headquarters | Charlotte, NC |
|---|---|
| Founded | 1904 |
| Scale | $2.65T assets · $2.12T deposits, $1.51T of it interest-bearing (Q2 2026, FDIC) |
| Deposit insurance | FDIC insured · Certificate 3510 |
| BBB rating | A+ · BBB Accredited |
Financial detail is in What Bank of America pays on deposits above.
Common questions about Bank of America
Is Bank of America FDIC insured?
Yes. Bank of America is FDIC insured under certificate 3510, so deposits are covered up to $250,000 per depositor, per ownership category.
What is the minimum deposit at Bank of America?
Bank of America requires a minimum deposit of $100 to open its Advantage Savings account, as observed on Sep 12, 2026. Check the bank's current terms before you open an account.
Does Bank of America have branches?
Yes. Bank of America operates 3,823 branches according to FDIC branch records, in addition to its website and mobile apps.
Bank of America against its closest alternatives
| Bank | Savings APY | Rate paid on savings and money market deposits (Q2 2026) | Min deposit | Branches |
|---|---|---|---|---|
| Bank of America | 0.04% | 0.74% | $100 | 3,823 branches across 39 states |
| Arrow Bank National Association | 0.05% | 2.21% | $2,500 | 57 branches in NY |
| Bankesb | 0.30% | 1.34% | $1,000 | 56 branches in CT, MA, NH |
| Bankhometown | 0.30% | 1.06% | $1,000 | 15 branches in CT, MA |
Alternatives are the three tracked banks whose highest savings APY is closest to Bank of America's.
Compare Bank of America with another bank
Each link opens a full comparison page, with the two banks side by side and their current savings rates.
Similar banks and rate hubs
Banks in the same rate band with the same product mix:
Rate hubs: today's highest savings rates, and CD rates by term.