Bank of America vs. Bask Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 21, 2026 | Bask BankInterest Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.75% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$188 $10,000+$375 $25,000+$938 |
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® Supported | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Bank of America vs. Bask Bank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Bask Bank's 3.75% APY for its Interest Savings Account, with a minimum balance of $0.
Bask Bank pays $374 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Bask Bank pays $375 - an APY advantage for Bask Bank.
Why Bank of America?
No distinct advantages found vs Bask Bank.
Why Bask Bank?
- ✓Higher potential APY (3.75% 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. $375 vs $1/yr).
Better Returns at $25,000
Bask BankBask Bank's Interest Savings Account pulls ahead with larger amounts (approx. $938 vs $3/yr).
Best for Simplicity
Bask BankBask Bank's Interest Savings Account offers 3.75% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Bask Bank's Interest Savings Account pays $374 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.
Executive Summary as of
Bask Bank offers a superior Interest Savings Account with an APY of 3.75%, significantly outperforming Bank of America's Advantage Savings account, which has a mere 0.01% APY. Bask Bank's account requires no minimum deposit or balance, and it charges no maintenance fees, making it an attractive option for savers. Additionally, it compounds daily and is available online only. In contrast, Bank of America’s account has a minimum deposit of $100 and a monthly maintenance fee of $8, which can be waived under certain conditions. Overall, Bask Bank stands out for its higher yield and simplicity.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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 $374 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+$375.00(3.6%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,375.00
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: 1/21/2026 Stable (90d) | 3.75% Verified: 1/21/2026 ↘︎ 0.30%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 Android4.7 |
| 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% | 3.75% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -5.2 |
Days Since Change | 36 | 33 |
12-Month High | 0.03% | 4.50% |
12-Month Low | 0.01% | 3.75% |
Adjustments / Mo | 0.17 | 0.50 |
Volatility Score | 0.120 | 0.048 |
How to read these metrics(Click to expand)
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