Affirm vs. Bank of America
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | AffirmAffirm Money Account Jan 12, 2026 | Bank of AmericaAdvantage Savings Jan 12, 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 App | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Affirm vs. Bank of America
As of Affirm offers an APY of 3.20% for its Affirm Money Account, with a minimum balance of $0, compared to Bank of America's 0.01% APY for its Advantage Savings account, with a minimum balance of .
Affirm pays $319 more than Bank of America on a $10,000 balance after one year. Affirm pays $320, while Bank of America pays $1 - an APY advantage for Affirm.
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.
Executive Summary as of
Affirm offers a competitive savings option with its Affirm Money Account, providing an APY of 3.20% with no minimum deposit, maintenance fees, or direct deposit requirements, making it ideal for those seeking simplicity. In contrast, Bank of America's Advantage Savings account yields a significantly lower APY of 0.01%, requires a minimum deposit of $100, and has an $8 monthly maintenance fee, which can be waived under certain conditions. Overall, Affirm's offering is superior for savers looking for higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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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: 1/12/2026 ↘︎ 0.40%90d Change | 0.01% Verified: 1/12/2026 Stable (90d) |
| Product Name | Affirm Money Account | Advantage Savings |
| Minimum Deposit | $0 | $100 |
| Min. Balance for APY | $0 | N/A |
| Monthly Fee | $0 | $8 |
| Branch Access | None | Yes |
| Account Type | Online Only | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.9 Android4.8 | iOS4.8 Android4.6 |
| 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) | -2.8 | 0.0 |
Days Since Change | 6 | 27 |
11-Month High | 3.85% | 0.03% |
11-Month Low | 3.20% | 0.01% |
Adjustments / Mo | 0.34 | 0.17 |
Volatility Score | 0.040 | 0.121 |
How to read these metrics(Click to expand)
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