Bank of America vs. Neighbors Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Bank of America
Advantage Savings
0.01%APYDec 6, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Bank of America
Advantage Savings
Neighbors Bank
Neighbors Savings Account
4.50%APYDec 6, 2025FDIC InsuredNo MinimumsGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Neighbors Bank
Neighbors Savings Account
Comparison Analysis
Comparing Bank of America vs. Neighbors Bank
Why Bank of America?
- ✓Higher rated iOS app (4.8 vs 3.3)
- ✓Available Nationwide
Why Neighbors Bank?
- ✓Higher potential APY (4.50% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
- ✓Physical branch access (One location in Columbia, Missouri)
— Key Feature Differences —
Better Returns at $10,000
Neighbors BankNeighbors Bank's Neighbors Savings Account earns more on smaller deposits (approx. $450 vs $1/yr).
Better Returns at $25,000
Neighbors BankNeighbors Bank's Neighbors Savings Account pulls ahead with larger amounts (approx. $1125 vs $3/yr).
Best for Simplicity
Neighbors BankNeighbors Bank's Neighbors Savings Account offers 4.50% APY with no bundling, direct deposit requirement or caps.
Best Mobile App Experience
Bank of AmericaBank of America offers an iOS app rated 4.8 (vs. 3.3) and Android app rated 4.6 (vs. 4.4)
Shared Benefits
Over a 1-year period, Neighbors Bank's Neighbors Savings Account pays $449 more interest on a $10,000 balance than Bank of America's Advantage Savings.
Executive Summary
Neighbors Bank offers a significant advantage with its Neighbors Savings Account, boasting a competitive APY of 4.50% for balances up to $250,000, with no maintenance fees or minimum deposit requirements. In contrast, Bank of America's Advantage Savings account provides a much lower APY of 0.01%, with a minimum deposit of $100 and a monthly maintenance fee of $8, which can be waived under certain conditions. While Bank of America is noted for its superior mobile app experience, the stark difference in APYs makes Neighbors Bank the clear winner for savings account options. Note that Neighbors Bank's account is not available in Delaware.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Top Market Contenders
See who beats both Bank of America and Neighbors Bank.
| Feature | Bank of America | Neighbors Bank |
|---|---|---|
| APY | 0.01% Verified: 12/6/2025 Stable (90d) | 4.50% Verified: 12/6/2025 ↘︎ 0.10%90d Change |
| Product Name | Advantage Savings | Neighbors Savings Account |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| 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 | iOS3.3 Android4.4 |
| 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. | Balances up to $250,000 earn 4.50% APY. Anything above will earn 0.05% APY. |
| Next Steps |
Savings Comparison
Neighbors Bank earns $2,754.4 more than Bank of America.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
Neighbors Bank
Neighbors Savings Account
Savings Breakdown
- Interest Earned+$2,760.10(13.3%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$20,760.10
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Neighbors Bank |
|---|---|---|
| Advantage Savings | Neighbors Savings Account | |
Current APY | 0.01% | 4.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -1.5 |
Days Since Change | 283 | 53 |
9-Month High | 0.01% | 4.75% |
9-Month Low | 0.01% | 4.50% |
Adjustments / Mo | 0.00 | 0.21 |
Volatility Score | 0.000 | 0.012 |
How to read these metrics(Click to expand)
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