Bank of America vs. E*TRADE from Morgan Stanley
Comparing Bank of America and E*TRADE from Morgan Stanley for savings: Bank of America's Advantage Savings pays 0.01% APY while E*TRADE from Morgan Stanley's Premium Savings Account pays 3.35% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? E*TRADE from Morgan Stanley pays $334 more than Bank of America annually ($335 vs $1).
Choose Bank of America if BBB rating matters to you, or choose E*TRADE from Morgan Stanley if getting the best rate matters most.
| Metric | Bank of AmericaAdvantage Savings Feb 6, 2026 | E*TRADE from Morgan StanleyPremium Savings Account Feb 6, 2026 |
|---|---|---|
| APY | 0.01% | 3.35% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$168 $10,000+$335 $25,000+$838 |
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. | - |
| 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. E*TRADE from Morgan Stanley
Executive Summary
E*TRADE from Morgan Stanley offers a clear advantage with its Premium Savings Account, boasting a competitive APY of 3.35%, significantly higher than Bank of America's Advantage Savings account, which yields only 0.01%. The E*TRADE account has no minimum deposit or balance requirements and incurs no maintenance fees, making it an attractive option for savers. Additionally, it compounds daily and is available online only. In contrast, Bank of America charges an $8 monthly fee, which can be waived under certain conditions. Overall, E*TRADE's higher APY and favorable terms position it as the superior choice for savings.
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?
No distinct advantages found vs E*TRADE from Morgan Stanley.
Why E*TRADE from Morgan Stanley?
- ✓Higher potential APY (3.35% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley's Premium Savings Account earns more on smaller deposits (approx. $335 vs $1/yr).
Better Returns at $25,000
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley's Premium Savings Account pulls ahead with larger amounts (approx. $838 vs $3/yr).
Best for Simplicity
E*TRADE from Morgan StanleyE*TRADE from Morgan Stanley's Premium Savings Account offers 3.35% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, E*TRADE from Morgan Stanley's Premium Savings Account pays $334 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. E*TRADE from Morgan Stanley Savings Calculator
You earn $334 more with E*TRADE from Morgan Stanley 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
E*TRADE from Morgan Stanley
Premium Savings Account
Savings Breakdown
- Interest Earned+$335.00(3.2%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,335.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | E*TRADE from Morgan Stanley |
|---|---|---|
| APY | 0.01% Verified: 2/6/2026 Stable (90d) | 3.35% Verified: 2/6/2026 ↘︎ 0.40%90d Change |
| Product Name | Advantage Savings | Premium Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0+ |
| 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 | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Available for Premium Savings and Checking. |
| 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. | - |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at E*TRADE from Morgan Stanley Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | E*TRADE from Morgan Stanley |
|---|---|---|
| Advantage Savings | Premium Savings Account | |
Current APY | 0.01% | 3.35% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -4.9 |
Days Since Change | 52 | 3 |
12-Month High | 0.03% | 4.00% |
12-Month Low | 0.01% | 3.35% |
Adjustments / Mo | 0.17 | 0.25 |
Volatility Score | 0.119 | 0.052 |
How to read these metrics(Click to expand)
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