Bank of America vs. Neighbors Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 21, 2026 | Neighbors BankNeighbors Savings Account Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 4.20% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$210 $10,000+$420 $25,000+$1,050 |
Min Deposit | $100 | $0 |
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. | Balances up to $250,000 earn 4.20% APY. Anything above will earn 0.05% APY. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported | FDIC InsuredNo MinimumsGreat Android AppIn-Person Access |
Comparison Analysis
Comparing Bank of America vs. Neighbors Bank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Neighbors Bank's 4.20% APY for its Neighbors Savings Account, with a minimum balance of $0.
Neighbors Bank pays $419 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Neighbors Bank pays $420 - an APY advantage for Neighbors Bank.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated iOS app (4.8 vs 3.3)
- ✓Fast transfers via Zelle® (up to $3,500 a day)
- ✓Available Nationwide
Why Neighbors Bank?
- ✓Higher potential APY (4.20% vs 0.01%) on all balances
- ✓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. $420 vs $1/yr).
Better Returns at $25,000
Neighbors BankNeighbors Bank's Neighbors Savings Account pulls ahead with larger amounts (approx. $1050 vs $3/yr).
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 $419 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
Neighbors Bank offers a significant advantage with its Neighbors Savings Account, boasting an APY of 4.20%, which is substantially higher than Bank of America's Advantage Savings account at just 0.01%. The Neighbors Savings Account has no minimum deposit or maintenance fees, although it is not available in Delaware. In contrast, Bank of America requires a $100 minimum deposit and charges an $8 maintenance fee, which can be waived under certain conditions. While Bank of America is noted for its superior mobile app experience, the stark difference in APY makes Neighbors Bank the clear choice for savers seeking higher returns.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. Neighbors Bank Savings Calculator
You earn $419 more with Neighbors Bank than Bank of America on a $10,000 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+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
Neighbors Bank
Neighbors Savings Account
4.20% on first $250,000 and 0.05% thereafter.
Savings Breakdown
- Interest Earned+$420.00(4.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,420.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Neighbors Bank |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 4.20% Verified: 1/21/2026 ↘︎ 0.30%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 |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Not Supported |
| 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 4.20% APY. Anything above will earn 0.05% APY. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Neighbors Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Neighbors Bank |
|---|---|---|
| Advantage Savings | Neighbors Savings Account | |
Current APY | 0.01% | 4.20% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.0 |
Days Since Change | 36 | 6 |
11-Month High | 0.03% | 4.75% |
11-Month Low | 0.01% | 4.20% |
Adjustments / Mo | 0.18 | 0.36 |
Volatility Score | 0.124 | 0.027 |
How to read these metrics(Click to expand)
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