Bank of America vs. Chase 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
Chase Bank
Chase Savings℠
0.01%APYDec 6, 2025FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Chase Bank
Chase Savings℠
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. Chase Bank
Why Bank of America?
- ✓No checking account or direct deposit required
Why Chase Bank?
No distinct advantages found vs Bank of America.
Shared Benefits
Executive Summary
Both Bank of America and Chase Bank offer savings accounts with an APY of 0.01%. Bank of America's Advantage Savings account requires a minimum deposit of $100 and has a monthly maintenance fee of $8, which can be waived under certain conditions. In contrast, Chase Bank's Chase Savings℠ account has no minimum deposit or balance requirement and a lower maintenance fee of $5, also waivable under specific circumstances. Both accounts do not require direct deposit and are not online-only, providing flexibility for customers.
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.
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See who beats both Bank of America and Chase Bank.
| Feature | Bank of America | Chase Bank |
|---|---|---|
| APY | 0.01% Verified: 12/6/2025 Stable (90d) | 0.01% Verified: 12/6/2025 Stable (90d) |
| Product Name | Advantage Savings | Chase Savings℠ |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $5 |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.6 |
| 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. | APY may vary by market. The maintenance fee may be waived under some circumstances, such as if the account balance is maintained with at least $300 each day, or you set up automatic transfers from a linked Chase account, etc. |
| Next Steps |
Savings Comparison
Both accounts earn exactly the same amount.
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
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
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 | Chase Bank |
|---|---|---|
| Advantage Savings | Chase Savings℠ | |
Current APY | 0.01% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -0.0 |
Days Since Change | 311 | 311 |
10-Month High | 0.01% | 0.01% |
10-Month Low | 0.01% | 0.01% |
Adjustments / Mo | 0.00 | 0.00 |
Volatility Score | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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