Bank of America vs. Colorado Federal Savings Bank
Colorado Federal Savings Bank edges out Bank of America slightly at 4.05% vs 0.01% APY. On a $10,000 balance, the difference is just $1 per year—so other factors may matter more.
The Bottom Line
The Bank of America and Colorado Federal Savings Bank savings accounts are very similar. Choose Bank of America if you're an Android user (no Android app for Colorado Federal Savings Bank), or you want Zelle for quick transfers.
| Metric | Bank of AmericaAdvantage Savings Feb 20, 2026 | Colorado Federal Savings BankPremier Savings Feb 20, 2026 |
|---|---|---|
| APY | 0.01% | 4.05% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$0 $10,000+$0 $25,000+$0 |
Min Deposit | $100 | $50,000 |
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. | - |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppDaily CompoundingStable 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. Colorado Federal Savings Bank
Executive Summary
Colorado Federal Savings Bank stands out with its High Yield Savings account offering a competitive APY of 4.00%, significantly higher than Bank of America's Advantage Savings account, which yields only 0.01%. The High Yield Savings account requires a minimum deposit of just $1 and has no maintenance fees, making it a cost-effective choice. In contrast, Bank of America charges an $8 monthly fee, which can be waived under certain conditions. While Bank of America provides a solid mobile app experience, Colorado Federal Savings Bank's product is exclusively online, appealing to those seeking simplicity and higher returns.
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?
- ✓Higher rated iOS app (4.8 vs 4.4)
- ✓Higher rated Android app (4.6 vs 0.0)
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Colorado Federal Savings Bank?
- ✓Higher potential APY (4.00%-4.05% vs 0.01%)
- ✓No checking account or direct deposit required
- ✓Offers 2 different high-yield savings options
— Key Feature Differences —
Best for Simplicity
Colorado Federal Savings BankColorado Federal Savings Bank's Premier Savings offers 4.05% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Bank of AmericaBank of America offers an iOS app rated 4.8 (vs. 4.4) and Android app rated 4.6 (vs. 0.0)
Shared Benefits
Over a 1-year period, Colorado Federal Savings Bank's Premier Savings pays $404 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. Colorado Federal Savings Bank Savings Calculator
You earn $2,020 more with Colorado Federal Savings Bank than Bank of America on a $50,000 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+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$50,000
Projected Balance
$50,005.00
Colorado Federal Savings Bank
Premier Savings
Savings Breakdown
- Interest Earned+$2,025.00(3.9%)
- Total Contributions$0
- Initial Deposit$50,000
Projected Balance
$52,025.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Colorado Federal Savings Bank |
|---|---|---|
| APY | 0.01% Verified: 2/20/2026 Stable (90d) | 4.05% Verified: 2/20/2026 Stable (90d) |
| Product Name | Advantage Savings | Premier Savings |
| Minimum Deposit | $100 | $50,000 |
| Min. Balance for APY | N/A | $50,000 |
| Monthly Fee | $8 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | None |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.4 Android- | |
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Not Supported |
| 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. | - |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Colorado Federal Savings Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Colorado Federal Savings Bank | |
|---|---|---|---|
| Advantage Savings | Premier Savings | High Yield Savings | |
Current APY | 0.01% | 4.05% | 4.00% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -2.4 | -2.4 |
Days Since Change | 66 | 133 | 133 |
12-Month High | 0.03% | 4.25% | 4.25% |
12-Month Low | 0.01% | 4.05% | 4.00% |
Adjustments / Mo | 0.16 | 0.16 | 0.33 |
Volatility Score | 0.116 | 0.022 | 0.023 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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