Bank of America vs. Bask Bank
Comparing Bank of America and Bask Bank for savings: Bank of America's Advantage Savings pays 0.01% APY while Bask Bank's Interest Savings Account pays 0.25% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Bask Bank pays $24 more than Bank of America annually ($25 vs $1).
Choose Bank of America if BBB rating matters to you, or choose Bask Bank if getting the best rate matters most.
| Metric | Bank of AmericaAdvantage Savings Feb 25, 2026 | Bask BankInterest Savings Account Mar 7, 2026 |
|---|---|---|
| APY | 0.01% | 0.25% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$13 $10,000+$25 $25,000+$63 |
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. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily 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. Bask Bank
Executive Summary
Bask Bank offers a superior Interest Savings Account with an APY of 0.25%, significantly higher than Bank of America's Advantage Savings account, which yields only 0.01%. Bask Bank's account requires no minimum deposit or balance, and has no maintenance fees, making it an attractive online-only option for savers. In contrast, Bank of America charges an $8 monthly fee unless certain conditions are met, such as maintaining a minimum balance of $500. Overall, for those seeking higher returns, Bask Bank is the clear winner.
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
Why Bask Bank?
- ✓Higher potential APY (0.25% vs 0.01%) on all balances
— Key Feature Differences —
Better Returns at $10,000
Bask BankBask Bank's Interest Savings Account earns more on smaller deposits (approx. $25 vs $1/yr).
Better Returns at $25,000
Bask BankBask Bank's Interest Savings Account pulls ahead with larger amounts (approx. $63 vs $3/yr).
Shared Benefits
Over a 1-year period, Bask Bank's Interest Savings Account pays $24 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. Bask Bank Savings Calculator
You earn $24 more with Bask Bank 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
Bask Bank
Interest Savings Account
Savings Breakdown
- Interest Earned+$25.00(0.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,025.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Bask Bank |
|---|---|---|
| APY | 0.01% Verified: 2/25/2026 Stable (90d) | 0.25% Verified: 3/7/2026 ↘︎ 3.65%90d Change |
| Product Name | Advantage Savings | Interest Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| 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. | Available Available for Interest Checking; not for standalone savings. |
| 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 | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Bask Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Bask Bank |
|---|---|---|
| Advantage Savings | Interest Savings Account | |
Current APY | 0.01% | 0.25% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -20.1 |
Days Since Change | 71 | 22 |
12-Month High | 0.03% | 4.35% |
12-Month Low | 0.01% | 0.25% |
Adjustments / Mo | 0.16 | 0.49 |
Volatility Score | 0.116 | 0.330 |
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
Compare Bask Bank's APY of 0.25% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Bask Bank vs Ally Bank | 3.20% | $0 |
| Bask Bank vs American Express | 3.30% | $0 |
| Bask Bank vs Axos Bank | 4.21% | $0 |
| Bask Bank vs Barclays | 3.85% | $0 |
| Bask Bank vs Capital One | 3.30% | $0 |
| Bask Bank vs Chase Bank | 0.01% | $0 |
| Bask Bank vs Chime | 3.00% | $0 |
| Bask Bank vs CIT Bank | 3.75% | $100 |
| Bask Bank vs Citibank | 3.20% | $0 |
| Bask Bank vs Discover Bank | 3.30% | $0 |
| Bask Bank vs EverBank | 3.90% | $0 |
| Bask Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bask Bank vs Newtek Bank | 4.20% | $0.01 |
| Bask Bank vs Openbank | 4.09% | $500 |
| Bask Bank vs Pibank | 4.60% | $0 |
| Bask Bank vs SoFi Bank | 4.00% | $0 |
| Bask Bank vs Synchrony Bank | 3.50% | $0 |
| Bask Bank vs Varo Bank | 5.00% | $0 |
| Bask Bank vs Wealthfront | 4.20% | $0 |
| Bask Bank vs Wells Fargo | 0.05% | $25 |