Bank of America vs. MutualOne Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 6, 2026 | MutualOne BankMo Premium Savings Jan 6, 2026 |
|---|---|---|
| APY | 0.01% | 4.07% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$0 $10,000+$0 $25,000+$1,018 |
Min Deposit | $100 | $20,000 |
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 AppGreat Android AppIn-Person AccessZelle® Supported |
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. MutualOne Bank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to MutualOne Bank's 4.07% APY for its Mo Premium Savings account, with a minimum balance of $20,000.
MutualOne Bank pays $406 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while MutualOne Bank pays $407 - an APY advantage for MutualOne Bank.
In addition, MutualOne Bank also offers 0.40% APY for the Online Savings account, with a minimum balance of 0.
Why Bank of America?
No distinct advantages found vs MutualOne Bank.
Why MutualOne Bank?
- ✓Higher potential APY (4.07% vs 0.01%)
- ✓No checking account or direct deposit required
- ✓Physical branch access (Full-service banking offices in Framingham, MA, and Natick, MA)
— Key Feature Differences —
Better Returns at $25,000
MutualOne BankMutualOne Bank's Mo Premium Savings pulls ahead with larger amounts (approx. $1018 vs $3/yr).
Best for Simplicity
MutualOne BankMutualOne Bank's Mo Premium Savings offers 4.07% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, MutualOne Bank's Mo Premium Savings pays $406 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
MutualOne Bank offers a significant advantage with its Mo Premium Savings account, boasting an impressive APY of 4.07%. This account requires a minimum deposit of $20,000 but has no maintenance fees, making it a compelling choice for savers looking to maximize their returns. In contrast, Bank of America’s Advantage Savings account provides a much lower APY of 0.01% with a minimum deposit of $100 and an $8 monthly maintenance fee, which can be waived under certain conditions. Overall, MutualOne Bank stands out as the more attractive option for those able to meet its deposit requirements.
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. MutualOne Bank Savings Calculator
You earn $812 more with MutualOne Bank than Bank of America on a $20,000 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+$2.00(0.0%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,002.00
MutualOne Bank
Mo Premium Savings
Savings Breakdown
- Interest Earned+$814.00(3.9%)
- Total Contributions$0
- Initial Deposit$20,000
Projected Balance
$20,814.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | MutualOne Bank |
|---|---|---|
| APY | 0.01% Verified: 1/6/2026 Stable (90d) | 4.07% Verified: 1/6/2026 Stable (90d) |
| Product Name | Advantage Savings | Mo Premium Savings |
| Minimum Deposit | $100 | $20,000 |
| Min. Balance for APY | N/A | $20,000 |
| Monthly Fee | $8 | $0 |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.9 Android4.4 |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Verified via website and app descriptions. |
| 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 MutualOne Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | MutualOne Bank | |
|---|---|---|---|
| Advantage Savings | Online Savings | Mo Premium Savings | |
Current APY | 0.01% | 0.40% | 4.07% |
Trend | Stable | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.0 | 0.0 |
Days Since Change | 21 | 113 | 113 |
4-Month High | 0.03% | 0.40% | 4.07% |
4-Month Low | 0.01% | 0.40% | 4.07% |
Adjustments / Mo | 0.52 | 0.00 | 0.00 |
Volatility Score | 0.192 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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