Bank of America vs. Citibank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 6, 2026 | CitibankCiti Accelerate Savings Jan 6, 2026 |
|---|---|---|
| APY | 0.01% | 3.30% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$165 $10,000+$330 $25,000+$825 |
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. | Eligibility restricted to select states. |
| 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 4.21% APY.
Comparison Analysis
Comparing Bank of America vs. Citibank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Citibank's 3.30% APY for its Citi Accelerate Savings account, with a minimum balance of $0.01.
Citibank pays $329 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Citibank pays $330 - an APY advantage for Citibank.
In addition, Citibank also offers 0.03% APY for the Citi® Savings Account account, with a minimum balance of $0.01.
Why Bank of America?
- ✓Available Nationwide
Why Citibank?
- ✓Higher potential APY (3.30% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Physical branch access (U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami.)
— Key Feature Differences —
Better Returns at $10,000
CitibankCitibank's Citi Accelerate Savings earns more on smaller deposits (approx. $330 vs $1/yr).
Better Returns at $25,000
CitibankCitibank's Citi Accelerate Savings pulls ahead with larger amounts (approx. $825 vs $3/yr).
Best for Simplicity
CitibankCitibank's Citi Accelerate Savings offers 3.30% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Citibank's Citi Accelerate Savings pays $329 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
Citibank offers a standout savings product, the Citi Accelerate Savings, with a competitive APY of 3.30%, significantly higher than Bank of America's Advantage Savings, which yields only 0.01%. The Citi Accelerate Savings is online-only and requires no minimum deposit, making it accessible for many customers, though eligibility is restricted to select states. Additionally, it has no direct deposit requirement, providing flexibility for savers. In contrast, Bank of America's savings account has a minimum deposit requirement of $100 and a monthly maintenance fee of $8, which can be waived under certain conditions. Overall, Citibank's offering is more advantageous for those looking to maximize their savings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
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Top Market Contenders
Bank of America vs. Citibank Savings Calculator
You earn $329 more with Citibank 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
Citibank
Citi Accelerate Savings
Savings Breakdown
- Interest Earned+$330.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,330.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Citibank |
|---|---|---|
| APY | 0.01% Verified: 1/6/2026 Stable (90d) | 3.30% Verified: 1/6/2026 ↘︎ 0.10%90d Change |
| Product Name | Advantage Savings | Citi Accelerate Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0.01 |
| Monthly Fee | $8 | $4.50. Waived for average monthly balances > $500 |
| 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 | iOS4.9 Android4.8 |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Limit: $2,500/dayTiered limits based on account status (Citigold higher). |
| BBB Rating | A+ | D- |
| 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. | Eligibility restricted to select states. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Citibank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Citibank | |
|---|---|---|---|
| Advantage Savings | Citi® Savings Account | Citi Accelerate Savings | |
Current APY | 0.01% | 0.03% | 3.30% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | -4.8 |
Days Since Change | 21 | 342 | 49 |
11-Month High | 0.03% | 0.03% | 3.80% |
11-Month Low | 0.01% | 0.03% | 3.30% |
Adjustments / Mo | 0.17 | 0.00 | 0.52 |
Volatility Score | 0.123 | 0.000 | 0.047 |
How to read these metrics(Click to expand)
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