Bank of America vs. Colorado Federal Savings Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 6, 2026 | Colorado Federal Savings BankPremier Savings Jan 6, 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® Supported | FDIC InsuredHigh MinimumGreat iOS App |
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. Colorado Federal Savings Bank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Colorado Federal Savings Bank's 4.05% APY for its Premier Savings account, with a minimum balance of $50,000.
Colorado Federal Savings Bank pays $404 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Colorado Federal Savings Bank pays $405 - an APY advantage for Colorado Federal Savings Bank.
In addition, Colorado Federal Savings Bank also offers 4.00% APY for the High Yield Savings account, with a minimum balance of $1.
Why Bank of America?
- ✓Higher rated iOS app (4.8 vs 4.3)
- ✓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. 4.3) 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.
Executive Summary as of
Colorado Federal Savings Bank offers a High Yield Savings account with a competitive APY of 4.00%, significantly higher than Bank of America's Advantage Savings account, which yields only 0.01% APY. The High Yield Savings account requires a minimum deposit of just $1 and has no maintenance fees, making it an attractive option for savers. In contrast, Bank of America charges an $8 monthly fee unless certain conditions are met. While Bank of America boasts a strong mobile app experience, Colorado Federal Savings Bank operates online-only, providing a straightforward savings option without the need for physical branch access.
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. 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: 1/6/2026 Stable (90d) | 4.05% Verified: 1/6/2026 ↘︎ 0.10%90d Change |
| Product Name | Advantage Savings | Premier Savings |
| Minimum Deposit | $100 | $50,000 |
| Min. Balance for APY | N/A | $50,000 |
| Monthly Fee | $8 | $0 |
| 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 | iOS4.3 Android- |
| 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 | -2.6 | -2.6 |
Days Since Change | 21 | 88 | 88 |
11-Month High | 0.03% | 4.25% | 4.25% |
11-Month Low | 0.01% | 4.05% | 4.00% |
Adjustments / Mo | 0.19 | 0.19 | 0.37 |
Volatility Score | 0.126 | 0.022 | 0.022 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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