Bank of America vs. Elevault
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 21, 2026 | ElevaultHigh Yield Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.82% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$191 $10,000+$382 $25,000+$955 |
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. | The 3.82% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredNo Minimums |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Bank of America vs. Elevault
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Elevault's 3.82% APY for its High Yield Savings Account, with a minimum balance of $0.
Elevault pays $381 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Elevault pays $382 - an APY advantage for Elevault.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated iOS app (4.8 vs 3.7)
- ✓Higher rated Android app (4.6 vs 3.9)
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Elevault?
- ✓Higher potential APY (3.82% vs 0.01%) on all balances
— Key Feature Differences —
Better Returns at $10,000
ElevaultElevault's High Yield Savings Account earns more on smaller deposits (approx. $382 vs $1/yr).
Better Returns at $25,000
ElevaultElevault's High Yield Savings Account pulls ahead with larger amounts (approx. $955 vs $3/yr).
Best Mobile App Experience
Bank of AmericaBank of America offers an iOS app rated 4.8 (vs. 3.7) and Android app rated 4.6 (vs. 3.9)
Shared Benefits
Over a 1-year period, Elevault's High Yield Savings Account pays $381 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
Elevault stands out with its High Yield Savings Account offering a competitive APY of 3.82%, significantly higher than Bank of America's Advantage Savings, which offers just 0.01% APY. Elevault's account has no maintenance fees and requires no minimum deposit or balance, making it accessible for all users. In contrast, Bank of America charges an $8 monthly fee, which can be waived under certain conditions, and requires a minimum deposit of $100. While Bank of America is not online-only, Elevault operates exclusively online. Overall, Elevault provides a superior savings option for those looking to maximize their interest earnings.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
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Top Market Contenders
Bank of America vs. Elevault Savings Calculator
You earn $381 more with Elevault 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
Elevault
High Yield Savings Account
3.82% on first $250,000 and 0.00% thereafter.
Savings Breakdown
- Interest Earned+$382.00(3.7%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,382.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Elevault |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 3.82% Verified: 1/21/2026 ↘︎ 0.52%90d Change |
| Product Name | Advantage Savings | High Yield Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| 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 | iOS3.7 Android3.9 |
| 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. | The 3.82% APY is up to $250,000. Balances above that earn no interest. Daily deposit limit is $2,500. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Elevault Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Elevault |
|---|---|---|
| Advantage Savings | High Yield Savings Account | |
Current APY | 0.01% | 3.82% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -17.3 |
Days Since Change | 36 | 36 |
6-Month High | 0.03% | 4.60% |
6-Month Low | 0.01% | 3.82% |
Adjustments / Mo | 0.36 | 0.54 |
Volatility Score | 0.164 | 0.068 |
How to read these metrics(Click to expand)
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