Bank Of America vs Santander Bank
High-Yield Savings Accounts Comparison
Last Updated: September 5, 2025
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Summary of Bank of America vs. Santander Bank
As of September 5, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Santander Bank's 0.03% APY for its Santander Savings account, with a minimum balance of $0.
Santander Bank yields $2 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Santander Bank pays $3 - an APY advantage for Santander Bank.
Bank of America
Strengths
- Bank of America has a higher App Store rating of 4.8 compared to Santander's 4.8.
- Bank of America offers an A+ BBB rating, indicating strong trustworthiness.
Potential Drawbacks
- Bank of America has a lower APY of 0.01% compared to Santander's 0.03%.
- Bank of America charges a higher maintenance fee of $8 compared to Santander's $1.
Santander Bank
Strengths
- Santander Bank offers a higher APY of 0.03% on its savings account.
- Santander Bank has a lower maintenance fee of $1 compared to Bank of America's $8.
Potential Drawbacks
- Santander Bank has a lower BBB rating of A- and is not BBB Accredited.
- Santander Bank's Google Play rating is lower at 4.3 compared to Bank of America's 4.6.
Compare Bank of America's vs Santander Bank's Savings Accounts
| Bank of America | Santander Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Santander Savings |
| APY | 0.01% (as of 9/5/2025) | 0.03% (as of 9/5/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | No | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $100 | $25 | |
| Minimum Balance for APY | N/A | $0 | |
| Maintenance Fee | $8 | $1 | |
| Direct Deposit Required | No | No | |
| Note | 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.3/5 | |
| BBB Rating | A+ | A- |
Comparative Historical APY Insights (Last 7 Months)
| Bank of America | Santander Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Santander Savings |
| Latest APY | 0.01 % | 0.03 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.0 | -0.0 | |
| Rate Changes / Mo | 0.00 | 0.00 | |
| Days Since Last Change | 219 | 219 | |
| High (-7 m) | 0.01 % | 0.03 % | |
| Low (-7 m) | 0.01 % | 0.03 % | |
| Draw-down from High | 0.0 % | 0.0 % | |
| Volatility (CV) | 0.000 | 0.000 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 months (regression slope).
- Slope (bps/mo)
- Average monthly change; 10 bps = 0.10 pp.
- Rate Changes / Mo
- Typical number of APY moves per month.
- Days Since Last Change
- Recency of the latest APY adjustment.
- High (-7 m)
- Highest APY in the last 219 days.
- Low (-7 m)
- Lowest APY in the last 219 days.
- Draw-down from High
- How far today sits below the 7-month peak.
- Volatility (CV)
- Coefficient of variation = stdev ÷ mean.
Why Track Savings-Account APYs?
- See how quickly a bank reacts to Fed moves or competition.
- Gauge “twitchiness” - frequent moves can annoy savers.
- Spot if you're buying near a peak (draw-down) or riding a rise.
- Slope (bps/mo) shows speed of change.
- Volatility (CV) scales jumps by average level.
Calculate Savings Growth for Bank of America vs Santander Bank
Bank of America
Total savings breakdown:
- Interest earned: $5.7 (0.03%)
- Total contributions: $13,000 (72.20%)
- Initial deposit: $5,000 (27.77%)
Your total balance
$18,005.70
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewSantander Bank
Total savings breakdown:
- Interest earned: $17.2 (0.10%)
- Total contributions: $13,000 (72.15%)
- Initial deposit: $5,000 (27.75%)
Your total balance
$18,017.20
Total balance: $18,017.2
Earnings: $17.2
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $11.5 lower than Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.