Bank of America vs. Neighbors Bank
Comparing Bank of America and Neighbors Bank for savings: Bank of America's Advantage Savings pays 0.01% APY while Neighbors Bank's Neighbors Savings Account pays 4.20% APY.
Note: Neighbors Bank caps its top rate at $250,000.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Neighbors Bank pays $419 more than Bank of America annually ($420 vs $1).
Choose Bank of America if you want a no-strings-attached account, you're an iPhone user, or you want Zelle for quick transfers. Choose Neighbors Bank if getting the best rate matters most, or you value in-person banking.
| Metric | Bank of AmericaAdvantage Savings Feb 25, 2026 | Neighbors BankNeighbors Savings Account Mar 7, 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® SupportedRate Changes Often | FDIC InsuredNo MinimumsGreat Android AppIn-Person AccessRate Changes Often |
Comparison Analysis
Comparing Bank of America vs. Neighbors Bank
Executive Summary
Neighbors Bank offers a significantly higher APY of 4.20% on its Neighbors Savings Account, making it the clear winner compared to Bank of America's Advantage Savings, which has an APY of only 0.01%. The Neighbors Savings Account has no minimum deposit or balance requirements, and it allows balances up to $250,000 to earn the high APY, with any amount above that earning 0.05%. In contrast, Bank of America charges an $8 monthly maintenance fee, although this may be waived under certain conditions. Both banks do not require direct deposit for their savings accounts.
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 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.
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: 2/25/2026 Stable (90d) | 4.20% Verified: 3/7/2026 ↘︎ 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 |
| Compound Frequency | Monthly | N/A |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | N/A | One location in Columbia, Missouri |
| 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. | 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 | -3.9 |
Days Since Change | 71 | 41 |
12-Month High | 0.03% | 4.75% |
12-Month Low | 0.01% | 4.20% |
Adjustments / Mo | 0.16 | 0.33 |
Volatility Score | 0.116 | 0.037 |
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 Neighbors Bank's APY of 4.20% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| Neighbors Bank vs Ally Bank | 3.20% | $0 |
| Neighbors Bank vs American Express | 3.30% | $0 |
| Neighbors Bank vs Axos Bank | 4.21% | $0 |
| Neighbors Bank vs Barclays | 3.85% | $0 |
| Neighbors Bank vs Capital One | 3.30% | $0 |
| Neighbors Bank vs Chase Bank | 0.01% | $0 |
| Neighbors Bank vs Chime | 3.00% | $0 |
| Neighbors Bank vs CIT Bank | 3.75% | $100 |
| Neighbors Bank vs Citibank | 3.20% | $0 |
| Neighbors Bank vs Discover Bank | 3.30% | $0 |
| Neighbors Bank vs EverBank | 3.90% | $0 |
| Neighbors Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Neighbors Bank vs Newtek Bank | 4.20% | $0.01 |
| Neighbors Bank vs Openbank | 4.09% | $500 |
| Neighbors Bank vs Pibank | 4.60% | $0 |
| Neighbors Bank vs SoFi Bank | 4.00% | $0 |
| Neighbors Bank vs Synchrony Bank | 3.50% | $0 |
| Neighbors Bank vs Varo Bank | 5.00% | $0 |
| Neighbors Bank vs Wealthfront | 4.20% | $0 |
| Neighbors Bank vs Wells Fargo | 0.05% | $25 |