Bank of America vs. Quontic Bank
Comparing Bank of America and Quontic Bank for savings: Bank of America's Advantage Savings pays 0.01% APY while Quontic Bank's High Yield Savings pays 3.50% APY.
See how they compare on rate stability, mobile app ratings, and more below.
The Bottom Line
Who pays more interest on $10,000? Quontic Bank pays $349 more than Bank of America annually ($350 vs $1).
Choose Quontic Bank if getting the best rate matters most.
| Metric | Bank of AmericaAdvantage Savings Feb 20, 2026 | Quontic BankHigh Yield Savings Feb 20, 2026 |
|---|---|---|
| APY | 0.01% | 3.50% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$175 $10,000+$350 $25,000+$875 |
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® SupportedRate Changes Often | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppZelle® SupportedDaily CompoundingRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Bank of America vs. Quontic Bank
Executive Summary
Quontic Bank offers a competitive High Yield Savings account with an impressive APY of 3.50%, significantly higher than Bank of America's Advantage Savings, which yields only 0.01%. Quontic's account has no maintenance fees and allows for daily compounding, making it an attractive option for savers. Additionally, there are no minimum balance requirements, and it is available online only. In contrast, Bank of America charges an $8 monthly fee unless certain conditions are met, such as maintaining a minimum balance of $500. For those seeking higher returns without complex requirements, Quontic 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 Quontic Bank.
Why Quontic Bank?
- ✓Higher potential APY (3.50% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Quontic BankQuontic Bank's High Yield Savings earns more on smaller deposits (approx. $350 vs $1/yr).
Better Returns at $25,000
Quontic BankQuontic Bank's High Yield Savings pulls ahead with larger amounts (approx. $875 vs $3/yr).
Best for Simplicity
Quontic BankQuontic Bank's High Yield Savings offers 3.50% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Quontic Bank's High Yield Savings pays $349 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. Quontic Bank Savings Calculator
You earn $349 more with Quontic 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
Quontic Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$350.00(3.4%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,350.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Quontic Bank |
|---|---|---|
| APY | 0.01% Verified: 2/20/2026 Stable (90d) | 3.50% Verified: 2/20/2026 ↘︎ 0.25%90d Change |
| Product Name | Advantage Savings | High Yield Savings |
| Minimum Deposit | $100 | $100 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $0 |
| Compound Frequency | Monthly | Daily |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Physical Branches | N/A | None for banking. Loan offices only. |
| 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 Limit: $1,000/dayDigital-first bank with full native support. |
| 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 SiteGo to Quontic Bank * Secure link to our partner |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Quontic Bank |
|---|---|---|
| Advantage Savings | High Yield Savings | |
Current APY | 0.01% | 3.50% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -2.7 |
Days Since Change | 66 | 52 |
12-Month High | 0.03% | 3.85% |
12-Month Low | 0.01% | 3.50% |
Adjustments / Mo | 0.16 | 0.16 |
Volatility Score | 0.116 | 0.032 |
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 Quontic Bank's APY of 3.50% with other banks
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|---|---|---|
| Quontic Bank vs Ally Bank | 3.20% | $0 |
| Quontic Bank vs American Express | 3.30% | $0 |
| Quontic Bank vs Axos Bank | 4.21% | $0 |
| Quontic Bank vs Barclays | 3.85% | $0 |
| Quontic Bank vs Capital One | 3.30% | $0 |
| Quontic Bank vs Chase Bank | 0.01% | $0 |
| Quontic Bank vs Chime | 3.00% | $0 |
| Quontic Bank vs CIT Bank | 3.75% | $100 |
| Quontic Bank vs Citibank | 3.20% | $0 |
| Quontic Bank vs Discover Bank | 3.30% | $0 |
| Quontic Bank vs EverBank | 3.90% | $0 |
| Quontic Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Quontic Bank vs Newtek Bank | 4.20% | $0.01 |
| Quontic Bank vs Openbank | 4.09% | $500 |
| Quontic Bank vs Pibank | 4.60% | $0 |
| Quontic Bank vs SoFi Bank | 4.00% | $0 |
| Quontic Bank vs Synchrony Bank | 3.50% | $0 |
| Quontic Bank vs Varo Bank | 5.00% | $0 |
| Quontic Bank vs Wealthfront | 3.95% | $0 |
| Quontic Bank vs Wells Fargo | 0.05% | $25 |