Bank Of America vs Barclays
High-Yield Savings Accounts Comparison
Last Updated: June 13, 2025
Summary of Bank of America vs. Barclays
As of June 13, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, compared to Barclays's 4.20% APY for its Tiered Savings account.
Barclays yields $419 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Barclays pays $420 - an APY advantage for Barclays.
In addition, Barclays also offers 3.70% APY for the Online Savings account.
Bank of America
Strengths
- Bank of America has a strong App Store rating of 4.8.
- The Advantage Savings account requires only a $100 minimum deposit.
Potential Drawbacks
- The current APY for Advantage Savings is only 0.01%, unchanged from 30 days ago.
- Bank of America charges an $8 monthly maintenance fee.
Barclays
Strengths
- Barclays offers a high APY of 4.20% for balances over $250,000.
- There are no maintenance fees for any savings account at Barclays.
Potential Drawbacks
- Barclays requires a minimum balance of $250,000 to earn the highest APY.
- The current APY for the Online Savings account decreased to 3.70% from 3.80%.
Summary: Bank of America provides a low APY of 0.01% with a monthly fee, while Barclays offers significantly higher APYs of 4.20% and 3.70% for its savings accounts. However, Barclays requires a substantial minimum balance to access the top rate. Both banks have strong App Store ratings, but Barclays has a superior BBB rating and accreditation.
Compare Bank of America's vs Barclays' Savings Accounts
| Bank of America | Barclays | |||
|---|---|---|---|---|
| Product | Advantage Savings | vs | Tiered Savings | Online Savings |
| APY | 0.01% (as of 6/13/2025) | 4.00% - 4.20% (as of 6/13/2025) | 3.70% (as of 6/13/2025) | |
| Bundled Account | No | No | No | |
| FDIC-insured | Yes | Yes | Yes | |
| Online Only | No | Yes | Yes | |
| Compound Frequency | Monthly | Daily | Daily | |
| Minimum Deposit | $100 | $0 | $0 | |
| Minimum Balance for APY | N/A | $250,000 | Enough to earn $0.01 in interest | |
| Maintenance Fee | $8 | $0 | $0 | |
| Direct Deposit Required | No | No | No | |
| Note | 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. | The 4.20% APY is only available for balances over $250,000. For lower balances, the APY is 4.00%. | N/A | |
| Visit Bank | Advantage Savings | Tiered Savings | Online Savings | |
| App Store Rating | 4.8/5 | 4.8/5 | ||
| Google Play Rating | 4.6/5 | 4.7/5 | ||
| BBB Rating | A | A+ | ||
Comparative Historical APY Insights (Last 5 Months)
| Bank of America | Barclays | |||
|---|---|---|---|---|
| Product | Advantage Savings | vs | Online Savings | Tiered Savings |
| Latest APY | 0.01 % | 3.70 % | 4.20 % | |
| Trend | Sideways | Sideways | Falling | |
| Slope (bps/mo) | 0.0 | -3.8 | -6.9 | |
| Rate Changes / Mo | 0.00 | 0.87 | 1.09 | |
| Days Since Last Change | 138 | 6 | 6 | |
| High (-5 m) | 0.01 % | 3.90 % | 4.50 % | |
| Low (-5 m) | 0.01 % | 3.70 % | 4.20 % | |
| Draw-down from High | 0.0 % | -5.1 % | -6.7 % | |
| Volatility (CV) | 0.000 | 0.015 | 0.022 | |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-5 m)
- Highest APY in the last 138 days.
- Low (-5 m)
- Lowest APY in the last 138 days.
- Draw-down from High
- How far today sits below the 5-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for Bank of America vs Barclays
All calculations are based on APY.
Bank of America
APY: 0.01%
Total savings breakdown:
- Interest earned: $0.1 (0.01%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (99.99%)
Your total balance
$1,000.10
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $1,000.1
Earnings: $0.1
Bank DetailsBarclays
APY: 4.20%
Total savings breakdown:
- Interest earned: $42 (4.03%)
- Total contributions: $0 (0.00%)
- Initial deposit: $1,000 (95.97%)
Your total balance
$1,042.00
Effective APY: 4.20% (based on your deposit and contributions)
Total balance: $1,042
Earnings: $42
Bank DetailsAfter 1 year Bank of America would earn you $41.9 less than Barclays.
More Comparisons
Compare Bank of America's APY of 0.01% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Bank of America vs Ally Bank | 3.60% | $0 |
| Bank of America vs American Express | 3.60% | $0 |
| Bank of America vs Axos Bank | 4.66% | $0 |
| Bank of America vs Capital One | 3.60% | $0 |
| Bank of America vs Chase Bank | 0.01% | $0 |
| Bank of America vs Chime | 3.75% | $0 |
| Bank of America vs CIT Bank | 4.00% | $100 |
| Bank of America vs Discover Bank | 3.60% | $0 |
| Bank of America vs Fitness Bank | 5.00% | $100 |
| Bank of America vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs Synchrony Bank | 3.80% | $0 |
Compare Barclays' APY of 4.20% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Barclays vs Ally Bank | 3.60% | $0 |
| Barclays vs American Express | 3.60% | $0 |
| Barclays vs Axos Bank | 4.66% | $0 |
| Barclays vs Capital One | 3.60% | $0 |
| Barclays vs Chase Bank | 0.01% | $0 |
| Barclays vs Chime | 3.75% | $0 |
| Barclays vs CIT Bank | 4.00% | $100 |
| Barclays vs Discover Bank | 3.60% | $0 |
| Barclays vs Fitness Bank | 5.00% | $100 |
| Barclays vs Marcus by Goldman Sachs | 3.65% | $0 |
| Barclays vs SoFi Bank | 3.80% | $0 |
| Barclays vs Synchrony Bank | 3.80% | $0 |