Bank Of America vs. Ivy Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: November 12, 2025
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Summary of Bank of America vs. Ivy Bank
Key Metrics at a Glance
| Feature | Bank of America | Ivy Bank |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 4.25% High-Yield Savings Account |
| Minimum to Open | $100 | $2,500 |
| Minimum Balance for Top APY | $2,500 | |
| 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. |
Bank of America
Strengths
- Bank of America has a higher App Store rating at 4.8 compared to Ivy Bank's 4.7.
- Bank of America offers a lower minimum deposit of $100 for its Advantage Savings account.
- Bank of America has a strong BBB rating of A+.
Potential Drawbacks
- Bank of America's APY is significantly lower at 0.01% compared to Ivy Bank's 4.25%.
- Bank of America charges an $8 monthly maintenance fee unless conditions are met.
Ivy Bank
Strengths
- Ivy Bank offers a competitive APY of 4.25%, significantly higher than Bank of America's 0.01%.
- Ivy Bank has no maintenance fees for its High-Yield Savings Account.
- Ivy Bank requires a minimum deposit of $2,500, ensuring higher account balances.
Potential Drawbacks
- Ivy Bank's App Store rating is lower at 4.7 and its Google Play rating is only 3.5.
- Ivy Bank is not BBB accredited and has a lower BBB rating of A-.
→ As of November 12, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Ivy Bank's 4.25% APY for its High-Yield Savings Account, with a minimum balance of $2,500.
→ Ivy Bank yields $424 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Ivy Bank pays $425 - an APY advantage for Ivy Bank.
Calculate Savings Growth for Bank of America vs Ivy Bank
Bank of America - Advantage Savings
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
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewIvy Bank - High-Yield Savings Account
Total savings breakdown:
- Interest earned: $2,596.8 (12.61%)
- Total contributions: $13,000 (63.12%)
- Initial deposit: $5,000 (24.28%)
Your total balance
$20,596.80
Total balance: $20,596.8
Earnings: $2,596.8
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,591.1 lower than Ivy Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Compare Bank of America's vs Ivy Bank's Savings Accounts
| Bank of America | Ivy Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High-Yield Savings Account |
| APY | 0.01% (as of 11/12/2025) | 0.05% - 4.25% (as of 11/12/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $100 | $2,500 | |
| Minimum Balance for APY | N/A | $2,500 | |
| Maintenance Fee | $8 | $0 | |
| Direct Deposit Required | No | No | |
| Eligibility | United States | Residents of California and U.S. Territories (except District of Columbia) are ineligible to apply. | |
| 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. | ||
| App Store Rating | 4.8/5 | 4.7/5 | |
| Google Play Rating | 4.6/5 | 3.5/5 | |
| BBB Rating | A+ | A- |
No historical data available.