Affirm vs. Bank of America
Compare rates, requirements, and features side-by-side to find the best option for you.
Affirm
Affirm Money Account
3.60%APYDec 10, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Affirm
Affirm Money Account
Bank of America
Advantage Savings
0.01%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Bank of America
Advantage Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Affirm vs. Bank of America Savings Calculator
Affirm earns $2,172.1 more than Bank of America.
Affirm
Affirm Money Account
Savings Breakdown
- Interest Earned+$2,177.80(10.8%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,177.80
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Affirm vs. Bank of America
Why Affirm?
- ✓Higher potential APY (3.60% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
Why Bank of America?
No distinct advantages found vs Affirm.
— Key Feature Differences —
Better Returns at $10,000
AffirmAffirm's Affirm Money Account earns more on smaller deposits (approx. $360 vs $1/yr).
Better Returns at $25,000
AffirmAffirm's Affirm Money Account pulls ahead with larger amounts (approx. $900 vs $3/yr).
Best for Simplicity
AffirmAffirm's Affirm Money Account offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Affirm's Affirm Money Account pays $359 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
Affirm offers a competitive savings option with its Affirm Money Account, featuring an attractive 3.60% APY and no minimum deposit or maintenance fees, making it an excellent choice for savers looking for simplicity and higher returns. In contrast, Bank of America's Advantage Savings account provides a significantly lower APY of 0.01% and requires a minimum deposit of $100, along with a potential monthly maintenance fee of $8, unless certain conditions are met. While both accounts are FDIC-insured, Affirm's online-only account stands out for its superior interest rate.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Affirm and Bank of America.
| Feature | Affirm | Bank of America |
|---|---|---|
| APY | 3.60% Verified: 12/10/2025 ↘︎ 0.25%90d Change | 0.01% Verified: 12/10/2025 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 |
| 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 |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Affirm | Bank of America |
|---|---|---|
| Affirm Money Account | Advantage Savings | |
Current APY | 3.60% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -2.8 | -0.0 |
Days Since Change | 75 | 315 |
10-Month High | 3.85% | 0.01% |
10-Month Low | 3.60% | 0.01% |
Adjustments / Mo | 0.09 | 0.00 |
Volatility Score | 0.030 | 0.000 |
How to read these metrics(Click to expand)
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