Bank Of America vs Go2bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Bank of America vs. GO2bank
As of September 5, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to GO2bank's 4.50% APY for its High Yield Savings account, with a minimum balance of $0.
GO2bank yields $449 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while GO2bank pays $450 - an APY advantage for GO2bank.
Bank of America
Strengths
- Bank of America has an A+ BBB rating, indicating strong trustworthiness.
- The Advantage Savings account requires only a $100 minimum deposit.
Potential Drawbacks
- The current APY for Advantage Savings is only 0.01%, unchanged from 30 days ago.
- Bank of America charges an $8 monthly maintenance fee unless conditions are met.
GO2bank
Strengths
- GO2bank offers a competitive APY of 4.50%, unchanged from 30 days ago.
- There is no minimum deposit or balance requirement for the High Yield Savings account.
Potential Drawbacks
- GO2bank is not BBB Accredited and has no BBB rating.
- A $5 monthly fee applies unless direct deposit is set up.
Summary: Bank of America provides a low APY of 0.01% with an A+ BBB rating, while GO2bank offers a much higher APY of 4.50% but lacks BBB accreditation. Both banks have monthly fees, but GO2bank's fee can be avoided with direct deposit, whereas Bank of America's fee can be waived under certain conditions. Additionally, GO2bank has no minimum deposit or balance requirements, making it more accessible for savers.
Compare Bank of America's vs GO2bank's Savings Accounts
| Bank of America | GO2bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High Yield Savings |
| APY | 0.01% (as of 9/5/2025) | 4.50% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Quarterly | |
| Minimum Deposit | $100 | $0 | |
| Minimum Balance for APY | N/A | $0 | |
| Maintenance Fee | $8 | $5 per month, unless you set up direct deposit | |
| 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. | The 4.50% APY is up to $5,000. Balances above that earn no interest. | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.6/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 1 Month)
| Bank of America | GO2bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High Yield Savings |
| Latest APY | 0.01 % | 4.50 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.0 | 0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 29 | 29 | |
| High (-1 m) | 0.01 % | 4.50 % | |
| Low (-1 m) | 0.01 % | 4.50 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 1 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 (-1 m)
- Highest APY in the last 30 days.
- Low (-1 m)
- Lowest APY in the last 30 days.
- Draw-down from High
- How far today sits below the 1-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.
Calculate Savings Growth for Bank of America vs GO2bank
All calculations are based on APY.
Bank of America
APY: 0.01%
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
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewGO2bank
APY: 4.50%
Total savings breakdown:
- Interest earned: $2,760.1 (13.30%)
- Total contributions: $13,000 (62.62%)
- Initial deposit: $5,000 (24.08%)
Your total balance
$20,760.10
Effective APY: 4.50% (based on your deposit and contributions)
Total balance: $20,760.1
Earnings: $2,760.1
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,754.4 lower than GO2bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
More Comparisons
Compare Bank of America's APY of 0.01% with other banks
Compare GO2bank's APY of 4.50% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| GO2bank vs Ally Bank | 3.50% | $0 |
| GO2bank vs American Express | 3.50% | $0 |
| GO2bank vs Axos Bank | 4.46% | $0 |
| GO2bank vs Barclays | 4.10% | $0 |
| GO2bank vs BrioDirect | 4.30% | $5,000 |
| GO2bank vs Capital One | 3.50% | $0 |
| GO2bank vs Chase Bank | 0.01% | $0 |
| GO2bank vs Chime | 3.75% | $0 |
| GO2bank vs CIT Bank | 4.00% | $100 |
| GO2bank vs Discover Bank | 3.50% | $0 |
| GO2bank vs Elevault | 4.60% | $0 |
| GO2bank vs EverBank | 4.30% | $0 |
| GO2bank vs Fitness Bank | 4.75% | $100 |
| GO2bank vs FVCbank | 4.35% | $500 |
| GO2bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| GO2bank vs Neighbors Bank | 4.60% | $0 |
| GO2bank vs Newtek Bank | 4.35% | $0 |
| GO2bank vs Peak Bank | 4.35% | $100 |
| GO2bank vs Pibank | 4.60% | $0 |
| GO2bank vs Presidential Bank | 4.50% | $5,000 |
| GO2bank vs Santander Bank | 0.03% | $25 |
| GO2bank vs SoFi Bank | 3.80% | $0 |
| GO2bank vs Synchrony Bank | 3.80% | $0 |
| GO2bank vs TIMBR | 4.40% | $1,000 |
| GO2bank vs UFB Direct | 4.21% | $5000 |
| GO2bank vs Varo Bank | 5.00% | $0 |
| GO2bank vs Wells Fargo | 2.51% | $25 |
| GO2bank vs Zynlo Bank | 4.35% | $10 |