Bank Of America vs. Bask Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of Bank of America vs. Bask Bank
Key Metrics at a Glance
| Feature | Bank of America | Bask Bank |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 4.05% Interest Savings Account |
| Minimum to Open | $100 | $0 |
| Minimum Balance for Top APY | $0 | |
| 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. |
Bank of America
Strengths
- Bank of America has an A+ BBB rating, indicating high trustworthiness.
- The Advantage Savings account has a low minimum deposit of $100.
Potential Drawbacks
- The current APY for Advantage Savings is only 0.01%, unchanged from 30 days ago.
- Bank of America charges an $8 maintenance fee unless certain conditions are met.
Bask Bank
Strengths
- Bask Bank offers a competitive APY of 4.05%, though it decreased from 4.15% last month.
- No maintenance fees are charged for the Interest Savings Account.
Potential Drawbacks
- Bask Bank has a B BBB rating and is not BBB Accredited.
- There are no branches for in-person banking at Bask Bank.
→ As of October 16, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Bask Bank's 4.05% APY for its Interest Savings Account, with a minimum balance of $0.
→ Bask Bank yields $404 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Bask Bank pays $405 - an APY advantage for Bask Bank.
Calculate Savings Growth for Bank of America vs Bask Bank
Bank of America
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewBask Bank
Total savings breakdown:
- Interest earned: $2,467 (12.05%)
- Total contributions: $13,000 (63.52%)
- Initial deposit: $5,000 (24.43%)
Your total balance
$20,467.00
Total balance: $20,467
Earnings: $2,467
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,461.3 lower than Bask Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bank of America's vs Bask Bank's Savings Accounts
| Bank of America | Bask Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Interest Savings Account |
| APY | 0.01% (as of 10/16/2025) | 4.05% (as of 10/16/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $100 | $0 | |
| Minimum Balance for APY | N/A | $0 | |
| Maintenance Fee | $8 | $0 | |
| Direct Deposit Required | 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. | ||
| App Store Rating | 4.8/5 | 4.7/5 | |
| Google Play Rating | 4.6/5 | 4.5/5 | |
| BBB Rating | A+ | B |
Comparative Historical APY Insights (Last 9 Months)
| Bank of America | Bask Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Interest Savings Account |
| Latest APY | 0.01 % | 4.05 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -3.5 | |
| Rate Changes / Mo | 0.00 | 0.46 | |
| Days Since Last Change | 260 | 27 | |
| High (-9 m) | 0.01 % | 4.50 % | |
| Low (-9 m) | 0.01 % | 4.05 % | |
| Draw-down from High | 0.0 % | -10.0 % | |
| Volatility (CV) | 0.000 | 0.023 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 261 days.
- Low (-9 m)
- Lowest APY in the last 261 days.
- Draw-down from High
- How far today sits below the 9-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.