Bank Of America vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: June 20, 2025
Summary of Bank of America vs. Synchrony Bank
As of June 20, 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 trustworthiness.
- The Advantage Savings account requires a minimum deposit of only $100.
- Bank of America has an App Store rating of 4.8.
Potential Drawbacks
- The current APY for Advantage Savings is only 0.01%, unchanged from 30 days ago.
- There is an $8 monthly maintenance fee for the Advantage Savings account.
Synchrony Bank
Strengths
- Synchrony Bank offers a high APY of 3.80%, down from 4.00% in the last 30 days.
- The High Yield Savings account has no minimum deposit or balance requirements.
- Synchrony Bank has no maintenance fees 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 online-only, which may limit access.
Summary: Bank of America offers a low APY of 0.01% with a $100 minimum deposit and an A BBB rating. In contrast, Synchrony Bank provides a much higher APY of 3.80% with no minimum deposit or fees, but lacks a BBB rating and is online-only. Consumers may prioritize either trustworthiness or higher savings returns based on their preferences.
Compare Bank of America's vs Synchrony Bank's Savings Accounts
| Bank of America | Synchrony Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High Yield Savings |
| APY | 0.01% (as of 6/20/2025) | 3.80% (as of 6/20/2025) | |
| Bundled Account | No | No | |
| FDIC-insured | Yes | Yes | |
| Online Only | No | Yes | |
| Compound Frequency | Monthly | Daily | |
| Minimum Deposit | $100 | $0 | |
| Minimum Balance for APY | N/A | $0 | |
| Maintenance Fee | $8 | $0 | |
| 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. | N/A | |
| Visit Bank | Advantage Savings | High Yield Savings | |
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.6/5 | |
| BBB Rating | A | Not Rated |
Comparative Historical APY Insights (Last 5 Months)
| Bank of America | Synchrony Bank | ||
|---|---|---|---|
| Product | Advantage Savings | vs | High Yield Savings |
| Latest APY | 0.01 % | 3.80 % | |
| Trend | Sideways | Sideways | |
| Slope (bps/mo) | -0.0 | -3.5 | |
| Rate Changes / Mo | 0.00 | 0.42 | |
| Days Since Last Change | 143 | 18 | |
| High (-5 m) | 0.01 % | 4.10 % | |
| Low (-5 m) | 0.01 % | 3.80 % | |
| Draw-down from High | 0.0 % | -7.3 % | |
| Volatility (CV) | 0.000 | 0.019 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 5 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 (-5 m)
- Highest APY in the last 144 days.
- Low (-5 m)
- Lowest APY in the last 144 days.
- Draw-down from High
- How far today sits below the 5-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 DetailsSynchrony 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 DetailsAfter 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
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Bank of America vs Ally Bank | 3.50% | $0 |
| Bank of America vs American Express | 3.60% | $0 |
| Bank of America vs Axos Bank | 4.66% | $0 |
| Bank of America vs Barclays | 4.10% | $0 |
| Bank of America vs Capital One | 3.60% | $0 |
| Bank of America vs Chase Bank | 0.01% | $0 |
| Bank of America vs Chime | 3.75% | $0 |
| Bank of America vs CIT Bank | 4.00% | $100 |
| Bank of America vs Discover Bank | 3.60% | $0 |
| Bank of America vs Fitness Bank | 5.00% | $100 |
| Bank of America vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs Varo Bank | 5.00% | $0 |
Compare Synchrony Bank's APY of 3.80% with other banks
| Bank Pair | Best APY | Min Deposit |
|---|---|---|
| Synchrony Bank vs Ally Bank | 3.50% | $0 |
| Synchrony Bank vs American Express | 3.60% | $0 |
| Synchrony Bank vs Axos Bank | 4.66% | $0 |
| Synchrony Bank vs Barclays | 4.10% | $0 |
| Synchrony Bank vs Capital One | 3.60% | $0 |
| Synchrony Bank vs Chase Bank | 0.01% | $0 |
| Synchrony Bank vs Chime | 3.75% | $0 |
| Synchrony Bank vs CIT Bank | 4.00% | $100 |
| Synchrony Bank vs Discover Bank | 3.60% | $0 |
| Synchrony Bank vs Fitness Bank | 5.00% | $100 |
| Synchrony Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Synchrony Bank vs SoFi Bank | 3.80% | $0 |
| Synchrony Bank vs Varo Bank | 5.00% | $0 |