Bank of America vs. Barclays
Comparing Bank of America and Barclays for savings: Bank of America's Advantage Savings pays 0.01% APY while Barclays's Tiered Savings pays 3.85% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Barclays pays $369 more than Bank of America annually ($370 vs $1).
Choose Bank of America if you want Zelle for quick transfers. Choose Barclays if getting the best rate matters most.
| Metric | Bank of AmericaAdvantage Savings Feb 25, 2026 | BarclaysTiered Savings Mar 24, 2026 |
|---|---|---|
| APY | 0.01% | 3.70% - 3.85% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$185 $10,000+$370 $25,000+$925 |
Min Deposit | $100 | $0 |
Snapshot view. Rates subject to change. | ||
Terms | 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 3.85% APY is only available for balances over $250,000. For lower balances, the APY is 3.70%. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppDaily CompoundingRate 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 Bank of America vs. Barclays
Executive Summary
Barclays offers a competitive Tiered Savings account with an APY of 3.85% for balances over $250,000, while lower balances earn 3.70%. This account is online-only and has no maintenance fees or minimum deposit requirements, making it accessible for those with substantial savings. In contrast, Bank of America's Advantage Savings account provides a much lower APY of 0.01%, with a minimum deposit of $100 and a potential monthly maintenance fee of $8, which can be waived under certain conditions. Overall, Barclays stands out as the winner due to its significantly higher APY.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Barclays?
- ✓Higher potential APY (3.85% vs 0.01%) on all balances
— Key Feature Differences —
Better Returns at $10,000
BarclaysBarclays's Tiered Savings earns more on smaller deposits (approx. $370 vs $1/yr).
Better Returns at $25,000
BarclaysBarclays's Tiered Savings pulls ahead with larger amounts (approx. $925 vs $3/yr).
Shared Benefits
Over a 1-year period, Barclays's Tiered Savings pays $369 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
Bank of America vs. Barclays Savings Calculator
You earn $369 more with Barclays 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.
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
Barclays
Tiered Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$370.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,370.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Barclays |
|---|---|---|
| APY | 0.01% Verified: 2/25/2026 Stable (90d) | 3.85% Range: 3.70% - 3.85% Verified: 3/24/2026 ↘︎ 0.15%90d Change |
| Product Name | Advantage Savings | Tiered Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $250,000 |
| Monthly Fee | $8 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Not Supported |
| BBB Rating | A+ | A+ |
| Important Notes | 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 3.85% APY is only available for balances over $250,000. For lower balances, the APY is 3.70%. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Barclays Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Barclays | |
|---|---|---|---|
| Advantage Savings | Tiered Savings | Online Savings | |
Current APY | 0.01% | 3.85% | 3.50% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.7 | -2.7 |
Days Since Change | 71 | 5 | 5 |
12-Month High | 0.03% | 4.40% | 3.90% |
12-Month Low | 0.01% | 3.85% | 3.50% |
Adjustments / Mo | 0.16 | 0.58 | 0.49 |
Volatility Score | 0.116 | 0.037 | 0.029 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Bank of America's APY of 0.01% with other banks
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|---|---|---|
| Bank of America vs Ally Bank | 3.20% | $0 |
| Bank of America vs American Express | 3.20% | $0 |
| Bank of America vs Axos Bank | 4.21% | $0 |
| Bank of America vs Capital One | 3.20% | $0 |
| Bank of America vs Chime | 3.00% | $0 |
| Bank of America vs CIT Bank | 3.75% | $100 |
| Bank of America vs Discover Bank | 3.30% | $0 |
| Bank of America vs EverBank | 3.90% | $0 |
| Bank of America vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bank of America vs Newtek Bank | 4.20% | $0.01 |
| Bank of America vs Openbank | 4.09% | $500 |
| Bank of America vs Pibank | 4.60% | $0 |
| Bank of America vs SoFi Bank | 4.00% | $0 |
| Bank of America vs Synchrony Bank | 3.50% | $0 |
| Bank of America vs Varo Bank | 5.00% | $0 |
| Bank of America vs Wealthfront | 4.20% | $0 |