Bank of America vs. Synchrony Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
| Metric | Bank of AmericaAdvantage Savings Jan 21, 2026 | Synchrony BankHigh Yield Savings Jan 21, 2026 |
|---|---|---|
| APY | 0.01% | 3.65% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$183 $10,000+$365 $25,000+$912 |
Min Deposit | $100 | $0 |
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 InsuredNo MinimumsGreat iOS AppGreat Android App |
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. Synchrony Bank
As of Bank of America offers an APY of 0.01% for its Advantage Savings account, with a minimum balance of , compared to Synchrony Bank's 3.65% APY for its High Yield Savings account, with a minimum balance of $0.
Synchrony Bank pays $364 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Synchrony Bank pays $365 - an APY advantage for Synchrony Bank.
Why Bank of America?
- ✓Fast transfers via Zelle® (up to $3,500 a day)
Why Synchrony Bank?
- ✓Higher potential APY (3.65% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
Synchrony BankSynchrony Bank's High Yield Savings earns more on smaller deposits (approx. $365 vs $1/yr).
Better Returns at $25,000
Synchrony BankSynchrony Bank's High Yield Savings pulls ahead with larger amounts (approx. $912 vs $3/yr).
Best for Simplicity
Synchrony BankSynchrony Bank's High Yield Savings offers 3.65% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Synchrony Bank's High Yield Savings pays $364 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
Synchrony Bank offers a competitive High Yield Savings account with an impressive APY of 3.65%, significantly outpacing Bank of America's Advantage Savings, which provides a mere 0.01% APY. Synchrony Bank's account requires no minimum deposit or balance, and it has no maintenance fees, making it a straightforward option for savers. In contrast, Bank of America imposes an $8 monthly fee, which can be waived under certain conditions, and requires a minimum deposit of $100. Overall, Synchrony Bank's offering stands out for its higher yield and simplicity, making it the preferred choice for those looking to maximize their savings.
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
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Top Market Contenders
Bank of America vs. Synchrony Bank Savings Calculator
You earn $364 more with Synchrony 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
Synchrony Bank
High Yield Savings
Savings Breakdown
- Interest Earned+$365.00(3.5%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,365.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | Synchrony Bank |
|---|---|---|
| APY | 0.01% Verified: 1/21/2026 Stable (90d) | 3.65% Verified: 1/21/2026 ↘︎ 0.15%90d Change |
| Product Name | Advantage Savings | High Yield Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $0 |
| 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 | iOS4.8 Android4.5 |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Not Supported |
| 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 Synchrony Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Synchrony Bank |
|---|---|---|
| Advantage Savings | High Yield Savings | |
Current APY | 0.01% | 3.65% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -3.5 |
Days Since Change | 36 | 64 |
12-Month High | 0.03% | 4.10% |
12-Month Low | 0.01% | 3.65% |
Adjustments / Mo | 0.17 | 0.25 |
Volatility Score | 0.120 | 0.035 |
How to read these metrics(Click to expand)
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High Rates (With Checking Bundle)
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