Bank of America vs. Citibank
Comparing Bank of America and Citibank for savings: Bank of America's Advantage Savings pays 0.01% APY while Citibank's Citi Accelerate Savings pays 3.20% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Citibank pays $319 more than Bank of America annually ($320 vs $1).
Choose Bank of America if BBB rating matters to you, or choose Citibank if getting the best rate matters most.
Important Considerations
Citibank's Accelerate Savings is only available in select states where Citi has no branch presence. Check eligibility before applying.
| Metric | Bank of AmericaAdvantage Savings Feb 20, 2026 | CitibankCiti Accelerate Savings Feb 20, 2026 |
|---|---|---|
| APY | 0.01% | 3.20% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$160 $10,000+$320 $25,000+$800 |
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® 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. Citibank
Executive Summary
Citibank offers a superior savings option with its Citi Accelerate Savings account, providing a competitive APY of 3.20%. This account requires no minimum deposit and has a low maintenance fee of $4.50, which can be waived with an average monthly balance over $500. Additionally, it is an online-only account with eligibility restricted to select states. In contrast, Bank of America's Advantage Savings yields only 0.01% APY, requires a minimum deposit of $100, and has an $8 maintenance fee. While the Advantage Savings account may be suitable for some, Citibank's offering clearly outperforms in terms of returns and flexibility.
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?
- ✓Available Nationwide
Why Citibank?
- ✓Higher potential APY (3.20% 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. $320 vs $1/yr).
Better Returns at $25,000
CitibankCitibank's Citi Accelerate Savings pulls ahead with larger amounts (approx. $800 vs $3/yr).
Best for Simplicity
CitibankCitibank's Citi Accelerate Savings offers 3.20% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Citibank's Citi Accelerate Savings pays $319 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. Citibank Savings Calculator
You earn $319 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+$320.00(3.1%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,320.00
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: 2/20/2026 Stable (90d) | 3.20% Verified: 2/20/2026 ↘︎ 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 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | U.S. branches are concentrated in six metropolitan areas, New York City, Chicago, Los Angeles, San Francisco, Washington, D.C., and Miami. |
| 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: $2,500/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% | 3.20% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | 0.0 | -4.7 |
Days Since Change | 66 | 365 | 24 |
12-Month High | 0.03% | 0.03% | 3.80% |
12-Month Low | 0.01% | 0.03% | 3.20% |
Adjustments / Mo | 0.16 | 0.00 | 0.58 |
Volatility Score | 0.116 | 0.000 | 0.049 |
How to read these metrics(Click to expand)
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