Bank of America vs. Bask Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Bank of America
Advantage Savings
0.01%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Bank of America
Advantage Savings
Bask Bank
Interest Savings Account
3.90%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Bask Bank
Interest Savings Account
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.
Comparison Analysis
Comparing Bank of America vs. Bask Bank
Why Bank of America?
No distinct advantages found vs Bask Bank.
Why Bask Bank?
- ✓Higher potential APY (3.90% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Bask BankBask Bank's Interest Savings Account earns more on smaller deposits (approx. $390 vs $1/yr).
Better Returns at $25,000
Bask BankBask Bank's Interest Savings Account pulls ahead with larger amounts (approx. $975 vs $3/yr).
Best for Simplicity
Bask BankBask Bank's Interest Savings Account offers 3.90% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Bask Bank's Interest Savings Account pays $389 more interest on a $10,000 balance than Bank of America's Advantage Savings.
Executive Summary
Bask Bank offers a superior Interest Savings Account with an impressive APY of 3.90%, significantly higher than Bank of America's Advantage Savings, which yields only 0.01%. Bask Bank's account has no minimum deposit or maintenance fees, making it an attractive option for savers, especially since it is online-only. In contrast, Bank of America charges an $8 monthly fee unless certain conditions are met. While Bank of America provides a traditional savings option, Bask Bank stands out for its simplicity and higher returns, with no direct deposit requirement.
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 Bank of America and Bask Bank.
| Feature | Bank of America | Bask Bank |
|---|---|---|
| APY | 0.01% Verified: 12/6/2025 Stable (90d) | 3.90% Verified: 12/6/2025 ↘︎ 0.25%90d Change |
| Product Name | Advantage Savings | Interest Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.7 Android4.5 |
| BBB Rating | A+ | B |
| 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. | - |
| Next Steps |
Savings Comparison
Bask Bank earns $2,364.5 more than Bank of America.
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
Bask Bank
Interest Savings Account
Savings Breakdown
- Interest Earned+$2,370.20(11.6%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,370.20
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Bask Bank |
|---|---|---|
| Advantage Savings | Interest Savings Account | |
Current APY | 0.01% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -4.4 |
Days Since Change | 311 | 29 |
10-Month High | 0.01% | 4.50% |
10-Month Low | 0.01% | 3.90% |
Adjustments / Mo | 0.00 | 0.48 |
Volatility Score | 0.000 | 0.035 |
How to read these metrics(Click to expand)
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