Bank Of America vs Synchrony Bank
High-Yield Savings Accounts Comparison

Last Updated: July 15, 2025

Summary of Bank of America vs. Synchrony Bank

As of July 15, 2025 Bank of America offers an APY of 0.01% for its Advantage Savings account, compared to Synchrony Bank's 3.80% APY for its High Yield Savings account.

Synchrony Bank yields $379 more than Bank of America on a $10,000 balance after one year. Bank of America pays $1, while Synchrony Bank pays $380 - an APY advantage for Synchrony Bank.

Bank of America

Strengths

  • Bank of America has a BBB rating of A, indicating good trustworthiness.
  • The Advantage Savings account requires only a $100 minimum deposit.
  • Bank of America has a 4.8 App Store rating.

Potential Drawbacks

  • The current APY for Advantage Savings is only 0.01%, unchanged from 30 days ago.
  • There is an $8 maintenance fee for the Advantage Savings account.

Synchrony Bank

Strengths

  • Synchrony Bank offers a competitive APY of 3.80%, consistent with 30 days ago.
  • The High Yield Savings account has no maintenance fees.
  • No minimum deposit or balance is required for the High Yield Savings account.

Potential Drawbacks

  • Synchrony Bank is not rated by the BBB, indicating potential trust issues.
  • The High Yield Savings account is only available online.
Summary: Bank of America offers a low APY of 0.01% with a maintenance fee for its Advantage Savings account, while Synchrony Bank provides a high APY of 3.80% with no fees or minimums. However, Synchrony lacks a BBB rating, which may concern some customers. Both banks have high App Store ratings, but only Bank of America has a solid BBB rating.

Compare Bank of America's vs Synchrony Bank's Savings Accounts

Bank of AmericaSynchrony Bank
ProductAdvantage SavingsvsHigh Yield Savings
APY
0.01% (as of 7/15/2025)3.80% (as of 7/15/2025)
Bundled Account
NoNo
FDIC-insured
YesYes
Online OnlyNoYes
Compound Frequency
MonthlyDaily
Minimum Deposit$100$0
Minimum Balance for APYN/A$0
Maintenance Fee$8$0
Direct Deposit Required
NoNo
NoteAPY 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.N/A
Visit BankAdvantage SavingsHigh Yield Savings
App Store Rating4.8/54.8/5
Google Play Rating4.6/54.6/5
BBB RatingANot Rated

Comparative Historical APY Insights (Last 6 Months)

Bank of AmericaSynchrony Bank
ProductAdvantage SavingsvsHigh Yield Savings
Latest APY0.01 %3.80 %
TrendSidewaysSideways
Slope (bps/mo)0.0-4.5
Rate Changes / Mo0.000.36
Days Since Last Change16843
High (-6 m)0.01 %4.10 %
Low (-6 m)0.01 %3.80 %
Draw-down from High0.0 %-7.3 %
Volatility (CV)0.0000.023
APY Insights Glossary
Latest APY
Most recent advertised annual-percentage yield.
Trend
Direction over the last 6 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 (-6 m)
Highest APY in the last 168 days.
Low (-6 m)
Lowest APY in the last 168 days.
Draw-down from High
How far today sits below the 6-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 Synchrony Bank

All calculations are based on APY.

Bank of America

APY: 0.01%

Total savings breakdown:

  • Interest earned: $0.1 (0.01%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (99.99%)

Your total balance

$1,000.10

Effective APY: 0.01% (based on your deposit and contributions)

Total balance: $1,000.1

Earnings: $0.1

Bank Details

Synchrony Bank

APY: 3.80%

Total savings breakdown:

  • Interest earned: $38 (3.66%)
  • Total contributions: $0 (0.00%)
  • Initial deposit: $1,000 (96.34%)

Your total balance

$1,038.00

Effective APY: 3.80% (based on your deposit and contributions)

Total balance: $1,038

Earnings: $38

Bank Details

After 1 year Bank of America would earn you $37.9 less than Synchrony Bank.

More Comparisons

Compare Bank of America's APY of 0.01% with other banks
Compare Synchrony Bank's APY of 3.80% with other banks