Bank of America vs. Santander Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 21, 2026 | Santander BankSantander Savings Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 0.01% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$1 $10,000+$1 $25,000+$3 |
Min Deposit | $100 | $25 |
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 MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® Supported |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.20% APY.
Comparison Analysis
Comparing Bank of America vs. Santander Bank
As of 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.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 4.0)
Why Santander Bank?
- ✓Physical branch access (Primarily in the Northeast and Miami, Florida)
Shared Benefits
Executive Summary as of
Both Bank of America and Santander Bank offer savings accounts with an APY of 0.01%. However, Santander Bank's savings account has a lower minimum deposit requirement of $25 compared to Bank of America's $100. Additionally, Santander charges a lower maintenance fee of $1, while Bank of America has an $8 fee, which can be waived under certain conditions. Both accounts do not require direct deposit and are not online-only, providing flexibility for customers.
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. Santander Bank Savings Calculator
Both accounts earn exactly the same amount.
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
Santander Bank
Santander Savings
Savings Breakdown
- Interest Earned+$1.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,001.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Santander Bank |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 0.01% Verified: 1/21/2026 Stable (90d) |
| Product Name | Advantage Savings | Santander Savings |
| Minimum Deposit | $100 | $25 |
| Min. Balance for APY | N/A | $0 |
| Monthly Fee | $8 | $1 |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.0 |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Branch-based retail accounts only. |
| BBB Rating | A+ | Not Rated |
| 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 Santander Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Santander Bank |
|---|---|---|
| Advantage Savings | Santander Savings | |
Current APY | 0.01% | 0.01% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -0.2 |
Days Since Change | 36 | 124 |
12-Month High | 0.03% | 0.03% |
12-Month Low | 0.01% | 0.01% |
Adjustments / Mo | 0.17 | 0.08 |
Volatility Score | 0.120 | 0.453 |
How to read these metrics(Click to expand)
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