Bank Of America vs. Citizens Access
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 16, 2025
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Summary of Bank of America vs. Citizens Access™
Key Metrics at a Glance
| Feature | Bank of America | Citizens Access™ |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 3.50% Citizens Access® Savings |
| Minimum to Open | $100 | $0.01 |
| Minimum Balance for Top APY | $0.01 | |
| Note | 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. |
Bank of America
Strengths
- Bank of America has a high App Store rating of 4.8.
- Bank of America offers an account with a low minimum deposit of $100.
Potential Drawbacks
- The Advantage Savings account has a very low APY of 0.01%.
- Bank of America charges an $8 monthly maintenance fee unless conditions are met.
Citizens Access™
Strengths
- Citizens Access™ offers a competitive APY of 3.50%.
- There are no maintenance fees for the Citizens Access® Savings account.
Potential Drawbacks
- Citizens Access™ requires a minimum deposit of $0.01 to open an account.
- Citizens Access™ has no physical branches.
→ As of October 16, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Citizens Access™'s 3.50% APY for its Citizens Access® Savings account, with a minimum balance of $0.01.
→ Citizens Access™ yields $349 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Citizens Access™ pays $350 - an APY advantage for Citizens Access™.
Calculate Savings Growth for Bank of America vs Citizens Access™
Bank of America
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewCitizens Access™
Total savings breakdown:
- Interest earned: $2,114.1 (10.51%)
- Total contributions: $13,000 (64.63%)
- Initial deposit: $5,000 (24.86%)
Your total balance
$20,114.10
Total balance: $20,114.1
Earnings: $2,114.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,108.4 lower than Citizens Access™'s total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bank of America's vs Citizens Access™'s Savings Accounts
| Bank of America | Citizens Access™ | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Citizens Access® Savings |
| APY | 0.01% (as of 10/16/2025) | 3.50% (as of 10/16/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $100 | $0.01 | |
| Minimum Balance for APY | N/A | $0.01 | |
| Maintenance Fee | $8 | $0 | |
| Direct Deposit Required | No | No | |
| Note | 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.8/5 | |
| BBB Rating | A+ | A+ |
Comparative Historical APY Insights (Last 9 Months)
| Bank of America | Citizens Access™ | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Citizens Access® Savings |
| Latest APY | 0.01 % | 3.50 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -2.9 | |
| Rate Changes / Mo | 0.00 | 0.11 | |
| Days Since Last Change | 260 | 78 | |
| High (-9 m) | 0.01 % | 3.70 % | |
| Low (-9 m) | 0.01 % | 3.50 % | |
| Draw-down from High | 0.0 % | -5.4 % | |
| Volatility (CV) | 0.000 | 0.025 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-9 m)
- Highest APY in the last 261 days.
- Low (-9 m)
- Lowest APY in the last 261 days.
- Draw-down from High
- How far today sits below the 9-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.