Affirm vs. Bank of America
Comparing Affirm and Bank of America for savings: Affirm's Affirm Money Account pays 3.20% APY while Bank of America's Advantage Savings pays 0.01% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Affirm pays $319 more than Bank of America annually ($320 vs $1).
Choose Affirm if getting the best rate matters most. Choose Bank of America if you want Zelle for quick transfers.
| Metric | AffirmAffirm Money Account Feb 6, 2026 | Bank of AmericaAdvantage Savings Feb 6, 2026 |
|---|---|---|
| APY | 3.20% | 0.01% |
Est. Earnings | $5,000+$160 $10,000+$320 $25,000+$800 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $0 | $100 |
Snapshot view. Rates subject to change. | ||
Terms | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Features | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppDaily CompoundingRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Affirm vs. Bank of America
Executive Summary
Affirm's Affirm Money Account stands out with a competitive APY of 3.20%, offering better returns even on smaller deposits compared to Bank of America's Advantage Savings, which yields only 0.01% APY. Affirm's account has no minimum deposit requirement, maintenance fees, or direct deposit stipulations, making it a straightforward choice for savers. In contrast, Bank of America's account requires a $100 minimum deposit and has an $8 monthly maintenance fee, although this fee can be waived under certain conditions. Overall, Affirm provides a significantly higher yield with a more accessible structure.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Affirm?
- ✓Higher potential APY (3.20% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
Why Bank of America?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
— Key Feature Differences —
Better Returns at $10,000
AffirmAffirm's Affirm Money Account earns more on smaller deposits (approx. $320 vs $1/yr).
Better Returns at $25,000
AffirmAffirm's Affirm Money Account pulls ahead with larger amounts (approx. $800 vs $3/yr).
Best for Simplicity
AffirmAffirm's Affirm Money Account offers 3.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Affirm's Affirm Money Account pays $319 more interest on a $10,000 balance than Bank of America's Advantage Savings.
*This calculation assumes current rates remain consistent for 1 year and does not include temporary bonuses.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Affirm vs. Bank of America Savings Calculator
You earn $319 more with Affirm than Bank of America on a $10,000 initial deposit for 1 year*.
*This calculation assumes that APYs remain unchanged for 1 year, and takes into account known promo rate periods, but does not factor in bonuses. You can see how often these banks have changed their rates in the Compare Savings Rates Over Time section below.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Affirm | Bank of America |
|---|---|---|
| APY | 3.20% Verified: 2/6/2026 ↘︎ 0.40%90d Change | 0.01% Verified: 2/6/2026 Stable (90d) |
| Product Name | Affirm Money Account | Advantage Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $8 |
| Compound Frequency | Daily | Monthly |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Physical Branches | None | N/A |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Not Supported | Available Limit: $3,500/dayFounding member; highest limits for established users. |
| BBB Rating | A+ | A+ |
| Important Notes | While Affirm is not a bank, it is FDIC-insured through partner Cross River Bank. | APY may vary by market. The monthly fee may be waived under some circumstances, such as if you maintain a minimum balance of $500, or are below the age of 25, etc. |
| Next Steps | Visit SiteVerify at Affirm Non-sponsored link to official site | Visit SiteVerify at Bank of America Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Affirm | Bank of America |
|---|---|---|
| Affirm Money Account | Advantage Savings | |
Current APY | 3.20% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -4.2 | 0.0 |
Days Since Change | 31 | 52 |
12-Month High | 3.85% | 0.03% |
12-Month Low | 3.20% | 0.01% |
Adjustments / Mo | 0.33 | 0.16 |
Volatility Score | 0.057 | 0.117 |
How to read these metrics(Click to expand)
Compare Similar Savings Accounts
Compare Affirm vs...
Comparing against Standard Savings
Compare Bank of America vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.
More Comparisons
Compare Affirm's APY of 3.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Affirm vs Ally Bank | 3.30% | $0 |
| Affirm vs American Express | 3.30% | $0 |
| Affirm vs Axos Bank | 4.21% | $0 |
| Affirm vs Barclays | 4.00% | $0 |
| Affirm vs Capital One | 3.30% | $0 |
| Affirm vs Chase Bank | 0.01% | $0 |
| Affirm vs Chime | 3.00% | $0 |
| Affirm vs CIT Bank | 3.75% | $100 |
| Affirm vs Citibank | 3.20% | $0 |
| Affirm vs Discover Bank | 3.30% | $0 |
| Affirm vs EverBank | 3.90% | $0 |
| Affirm vs Marcus by Goldman Sachs | 3.65% | $0 |
| Affirm vs Newtek Bank | 4.20% | $0.01 |
| Affirm vs Openbank | 4.09% | $500 |
| Affirm vs Pibank | 4.60% | $0 |
| Affirm vs SoFi Bank | 4.00% | $0 |
| Affirm vs Synchrony Bank | 3.50% | $0 |
| Affirm vs Varo Bank | 5.00% | $0 |
| Affirm vs Wealthfront | 3.95% | $0 |
| Affirm vs Wells Fargo | 0.05% | $25 |