Bank of America vs. MutualOne Bank
MutualOne Bank edges out Bank of America slightly at 4.07% vs 0.01% APY. On a $10,000 balance, the difference is just $1 per year—so other factors may matter more.
The Bottom Line
The Bank of America and MutualOne Bank savings accounts are very similar. Choose MutualOne Bank if you value in-person banking.
| Metric | Bank of AmericaAdvantage Savings Feb 20, 2026 | MutualOne BankMo Premium Savings Feb 20, 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® SupportedRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedStable Rate |
Comparison Analysis
Comparing Bank of America vs. MutualOne Bank
Executive Summary
MutualOne Bank offers a significant advantage with its Mo Premium Savings account, boasting a competitive 4.07% APY, which stands in stark contrast to Bank of America's Advantage Savings, which yields only 0.01% APY. The Mo Premium Savings account requires a minimum deposit of $20,000 but has no maintenance fees or direct deposit requirements, making it an attractive option for those looking to maximize their savings. In comparison, Bank of America’s savings account has a minimum deposit of $100 and an $8 monthly maintenance fee, which can be waived under certain conditions. For those seeking higher returns, MutualOne Bank is the clear winner.
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 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.
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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: 2/20/2026 Stable (90d) | 4.07% Verified: 2/20/2026 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 |
| Compound Frequency | Monthly | Monthly |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | N/A | Full-service banking offices in Framingham, MA, and Natick, MA |
| 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 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 | 66 | 161 | 161 |
5-Month High | 0.03% | 0.40% | 4.07% |
5-Month Low | 0.01% | 0.40% | 4.07% |
Adjustments / Mo | 0.37 | 0.00 | 0.00 |
Volatility Score | 0.162 | 0.000 | 0.000 |
How to read these metrics(Click to expand)
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More Comparisons
Compare Bank of America's APY of 0.01% with other banks
Compare MutualOne Bank's APY of 4.07% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| MutualOne Bank vs Ally Bank | 3.20% | $0 |
| MutualOne Bank vs American Express | 3.30% | $0 |
| MutualOne Bank vs Axos Bank | 4.21% | $0 |
| MutualOne Bank vs Barclays | 3.85% | $0 |
| MutualOne Bank vs Capital One | 3.30% | $0 |
| MutualOne Bank vs Chase Bank | 0.01% | $0 |
| MutualOne Bank vs Chime | 3.00% | $0 |
| MutualOne Bank vs CIT Bank | 3.75% | $100 |
| MutualOne Bank vs Citibank | 3.20% | $0 |
| MutualOne Bank vs Discover Bank | 3.30% | $0 |
| MutualOne Bank vs EverBank | 3.90% | $0 |
| MutualOne Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| MutualOne Bank vs Newtek Bank | 4.20% | $0.01 |
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| MutualOne Bank vs Pibank | 4.60% | $0 |
| MutualOne Bank vs SoFi Bank | 4.00% | $0 |
| MutualOne Bank vs Synchrony Bank | 3.50% | $0 |
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| MutualOne Bank vs Wells Fargo | 0.05% | $25 |