Bank of America vs. Popular Direct
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 6, 2026 | Popular DirectPopular Direct Select Savings Jan 6, 2026 |
|---|---|---|
| APY | 0.01% | 3.90% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$195 $10,000+$390 $25,000+$975 |
Min Deposit | $100 | $100 |
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 InsuredLow Minimums |
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. Popular Direct
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Popular Direct's 3.90% APY for its Popular Direct Select Savings account, with a minimum balance of $0.01.
Popular Direct pays $389 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Popular Direct pays $390 - an APY advantage for Popular Direct.
Why Bank of America?
- ✓Higher rated iOS app (4.8 vs 1.3)
- ✓Higher rated Android app (4.6 vs 1.3)
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Popular Direct?
- ✓Higher potential APY (3.90% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Popular DirectPopular Direct's Popular Direct Select Savings earns more on smaller deposits (approx. $390 vs $1/yr).
Better Returns at $25,000
Popular DirectPopular Direct's Popular Direct Select Savings pulls ahead with larger amounts (approx. $975 vs $3/yr).
Best for Simplicity
Popular DirectPopular Direct's Popular Direct Select Savings offers 3.90% 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. 1.3) and Android app rated 4.6 (vs. 1.3)
Shared Benefits
Over a 1-year period, Popular Direct's Popular Direct Select Savings pays $389 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
Popular Direct offers a significantly higher APY of 3.90% on its Popular Direct Select Savings account, making it the clear winner in this comparison. This online-only account requires a minimum deposit of $100 but has no maintenance fees and allows for daily compounding. In contrast, Bank of America’s Advantage Savings account provides a much lower APY of 0.01%, with a monthly maintenance fee of $8 that can be waived under certain conditions. While both banks require a minimum deposit of $100, Popular Direct stands out for its better returns and simplicity, as it does not impose any direct 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.
Non-sponsored link to official site
Non-sponsored link to official site
Top Market Contenders
Bank of America vs. Popular Direct Savings Calculator
You earn $389 more with Popular Direct 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
Popular Direct
Popular Direct Select Savings
Savings Breakdown
- Interest Earned+$390.00(3.8%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,390.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Popular Direct |
|---|---|---|
| APY | 0.01% Verified: 1/6/2026 Stable (90d) | 3.90% Verified: 1/6/2026 ↘︎ 0.15%90d Change |
| Product Name | Advantage Savings | Popular Direct Select Savings |
| Minimum Deposit | $100 | $100 |
| Min. Balance for APY | N/A | $0.01 |
| Monthly Fee | $8 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS1.3 Android1.3 |
| 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. | - |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at Popular Direct Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Popular Direct |
|---|---|---|
| Advantage Savings | Popular Direct Select Savings | |
Current APY | 0.01% | 3.90% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -2.4 |
Days Since Change | 21 | 22 |
11-Month High | 0.03% | 4.50% |
11-Month Low | 0.01% | 3.90% |
Adjustments / Mo | 0.17 | 0.79 |
Volatility Score | 0.123 | 0.027 |
How to read these metrics(Click to expand)
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