Bank of America vs. Chase Bank
Bank of America and Chase Bank both offer 0.01% APY on their savings accounts. With identical rates, your choice comes down to other factors like mobile app quality, branch access, or customer service reputation.
The Bottom Line
The Bank of America and Chase Bank savings accounts are very similar. Choose Chase Bank if you value in-person banking.
| Metric | Bank of AmericaAdvantage Savings Feb 25, 2026 | Chase BankChase Savings℠ Mar 7, 2026 |
|---|---|---|
| APY | 0.01% | 0.01% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$1 $10,000+$1 $25,000+$3 |
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. | 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. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate |
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. Chase Bank
Executive Summary
Both Bank of America and Chase Bank offer savings accounts with a competitive 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 are accessible online and do not require direct deposit.
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 Chase Bank?
- ✓Physical branch access (Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii.)
Shared Benefits
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. Chase Bank Savings Calculator
Both accounts earn exactly the same amount.
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
Chase Bank
Chase Savings℠
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Chase Bank |
|---|---|---|
| APY | 0.01% Verified: 2/25/2026 Stable (90d) | 0.01% Verified: 3/7/2026 Stable (90d) |
| Product Name | Advantage Savings | Chase Savings℠ |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $5 |
| Compound Frequency | Monthly | Monthly |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | N/A | Chase has more than 5,000 branches in nearly all of the United States, but not in Alaska and Hawaii. |
| 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 Limit: $2,000/dayBranded as Chase QuickPay; dynamic limits up to $10k. |
| 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 | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Chase Bank Non-sponsored link to official site |
📈 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 | 71 | 365 |
12-Month High | 0.03% | 0.01% |
12-Month Low | 0.01% | 0.01% |
Adjustments / Mo | 0.16 | 0.00 |
Volatility Score | 0.116 | 0.000 |
How to read these metrics(Click to expand)
Compare Similar Savings Accounts
Compare Bank of America vs...
Comparing against Standard Savings
Compare Chase Bank vs...
Comparing against Standard Savings
High Rates (With Checking Bundle)
Looking for something different? Check out these top-rated alternatives.