Bank Of America vs. Santander Bank
High-Yield Savings Account Comparison
By Aviel Fahl|Last Updated: October 21, 2025
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Summary of Bank of America vs. Santander Bank
Key Metrics at a Glance
| Feature | Bank of America | Santander Bank |
|---|---|---|
| Top Savings APY | 0.01% Advantage Savings | 0.01% Santander Savings |
| Minimum to Open | $100 | $25 |
| Minimum Balance for Top APY | $0 | |
| 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. |
Bank of America
Strengths
- Bank of America has a higher BBB rating of A+.
- Bank of America offers a higher App Store rating of 4.8.
- Bank of America has no minimum balance requirement for APY.
Potential Drawbacks
- Bank of America charges a monthly maintenance fee of $8.
- Bank of America has no branches, only online access.
- Bank of America's current APY is only 0.01%.
Santander Bank
Strengths
- Santander Bank has a lower monthly maintenance fee of $1.
- Santander Bank has branches primarily in the Northeast and Miami.
- Santander Bank requires only a $25 minimum deposit.
Potential Drawbacks
- Santander Bank's App Store rating is lower at 4.1.
- Santander Bank is not BBB accredited and has no rating.
- Santander Bank's current APY is also 0.01%.
Summary: Both banks offer savings accounts with a current APY of 0.01%. However, Bank of America has a higher BBB rating and better App Store rating. Santander Bank has a lower maintenance fee and requires a lower minimum deposit, but lacks BBB accreditation and has a lower Google Play rating. Branch availability may also be a consideration for customers in specific regions.
→ As of 10/21/2025 both Bank of America (Advantage Savings) and Santander Bank (Santander Savings) offer an APY of 0.01% .
→ Both banks yield $1 in interest on a $10,000 balance after one year. Neither has an APY advantage, so consider other features (fees, access, app ratings, etc.) when choosing.
Calculate Savings Growth for Bank of America vs Santander Bank
All calculations are based on APY.
Bank of America - Advantage Savings
Top APY: 0.01%
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
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewSantander Bank - Santander Savings
Top APY: 0.01%
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
Effective APY: 0.01% (based on your deposit and contributions)
Total balance: $18,005.7
Earnings: $5.7
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be the same as Santander Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
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 10/21/2025) | 0.01% (as of 10/21/2025) | |
| 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 | 4.1/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 9 Months)
| Bank of America | Santander Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | Santander Savings |
| Latest APY | 0.01 % | 0.01 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | 0.0 | -0.1 | |
| Rate Changes / Mo | 0.00 | 0.11 | |
| Days Since Last Change | 265 | 32 | |
| High (-9 m) | 0.01 % | 0.03 % | |
| Low (-9 m) | 0.01 % | 0.01 % | |
| Draw-down from High | 0.0 % | -66.7 % | |
| Volatility (CV) | 0.000 | 0.235 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 9 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 (-9 m)
- Highest APY in the last 266 days.
- Low (-9 m)
- Lowest APY in the last 266 days.
- Draw-down from High
- How far today sits below the 9-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.