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 4.00% 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 $384 more than Bank of America annually ($385 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 6, 2026 | BarclaysTiered Savings Feb 6, 2026 |
|---|---|---|
| APY | 0.01% | 3.85% - 4.00% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$193 $10,000+$385 $25,000+$963 |
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 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. |
| 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 superior savings option with its Tiered Savings account, providing an APY of 4.00% for balances over $250,000, while lower balances earn 3.85%. This account is online-only and requires no maintenance fees, making it an attractive choice for those with significant deposits. In contrast, Bank of America's Advantage Savings account offers a much lower APY of 0.01% and has a minimum deposit requirement of $100, along with a monthly maintenance fee of $8 unless certain conditions are met. For those seeking simplicity, Barclays also provides an Online Savings account with a competitive APY of 3.60% and no fees or minimum balance requirements.
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?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Barclays?
- ✓Higher potential APY (3.60%-4.00% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Better Returns at $10,000
BarclaysBarclays's Tiered Savings earns more on smaller deposits (approx. $385 vs $1/yr).
Better Returns at $25,000
BarclaysBarclays's Tiered Savings pulls ahead with larger amounts (approx. $963 vs $3/yr).
Best for Simplicity
BarclaysBarclays's Online Savings offers 3.60% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Barclays's Tiered Savings pays $384 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 $384 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+$385.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,385.00
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: 2/6/2026 Stable (90d) | 4.00% Range: 3.85% - 4.00% Verified: 2/6/2026 ↘︎ 0.10%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 4.00% APY is only available for balances over $250,000. For lower balances, the APY is 3.85%. |
| 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 | Online Savings | Tiered Savings | |
Current APY | 0.01% | 3.60% | 4.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -2.6 | -3.8 |
Days Since Change | 52 | 72 | 79 |
12-Month High | 0.03% | 3.90% | 4.50% |
12-Month Low | 0.01% | 3.60% | 4.00% |
Adjustments / Mo | 0.16 | 0.41 | 0.58 |
Volatility Score | 0.117 | 0.027 | 0.035 |
How to read these metrics(Click to expand)
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