Bank Of America vs Synchrony Bank
High-Yield Savings Accounts Comparison
Last Updated: August 29, 2025
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Summary of Bank of America vs. Synchrony Bank
As of August 29, 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 an A+ BBB rating, indicating high trustworthiness.
- The Advantage Savings account has a low minimum deposit of $100.
Potential Drawbacks
- The current APY for Bank of America's Advantage Savings is only 0.01%.
- Bank of America charges an $8 monthly maintenance fee.
Synchrony Bank
Strengths
- Synchrony Bank offers a competitive APY of 3.80% for its High Yield Savings account.
- There are no maintenance fees for the High Yield Savings account.
Potential Drawbacks
- Synchrony Bank is not rated by the BBB, indicating potential trust concerns.
- The High Yield Savings account requires no minimum deposit but is online-only.
Summary: Bank of America provides a low APY of 0.01% and charges an $8 maintenance fee, but has a strong A+ BBB rating. In contrast, Synchrony Bank offers a significantly higher APY of 3.80% with no fees, though it lacks a BBB rating and is online-only. Customers may prefer Synchrony for higher returns, while those valuing trust may lean towards Bank of America.
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 8/29/2025) | 3.80% (as of 8/29/2025) | |
| 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. | ||
| App Store Rating | 4.8/5 | 4.8/5 | |
| Google Play Rating | 4.6/5 | 4.5/5 | |
| BBB Rating | A+ | Not Rated |
Comparative Historical APY Insights (Last 7 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 | -4.3 | |
| Rate Changes / Mo | 0.00 | 0.28 | |
| Days Since Last Change | 213 | 88 | |
| High (-7 m) | 0.01 % | 4.10 % | |
| Low (-7 m) | 0.01 % | 3.80 % | |
| Draw-down from High | 0.0 % | -7.3 % | |
| Volatility (CV) | 0.000 | 0.026 |
APY Insights Glossary
- Latest APY
- Most recent advertised annual-percentage yield.
- Trend
- Direction over the last 7 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 (-7 m)
- Highest APY in the last 213 days.
- Low (-7 m)
- Lowest APY in the last 213 days.
- Draw-down from High
- How far today sits below the 7-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: $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 OverviewSynchrony Bank
APY: 3.80%
Total savings breakdown:
- Interest earned: $2,305.9 (11.36%)
- Total contributions: $13,000 (64.02%)
- Initial deposit: $5,000 (24.62%)
Your total balance
$20,305.90
Effective APY: 3.80% (based on your deposit and contributions)
Total balance: $20,305.9
Earnings: $2,305.9
Bank OverviewWith a $5,000 initial deposit and $13,000 in total contributions over 5 years, Bank of America's total earnings would be $2,300.2 lower than Synchrony Bank's total earnings.
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
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 | 3.50% | $0 |
| Bank of America vs Axos Bank | 4.46% | $0 |
| Bank of America vs Barclays | 4.10% | $0 |
| Bank of America vs Capital One | 3.50% | $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 | 3.50% | $0 |
| Bank of America vs Fitness Bank | 4.85% | $100 |
| Bank of America vs Marcus by Goldman Sachs | 3.65% | $0 |
| Bank of America vs Presidential Bank | 4.50% | $5,000 |
| Bank of America vs SoFi Bank | 3.80% | $0 |
| Bank of America vs UFB Direct | 4.21% | $5000 |
| Bank of America vs Varo Bank | 5.00% | $0 |
| Bank of America vs Wells Fargo | 2.51% | $25 |
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 | 3.50% | $0 |
| Synchrony Bank vs Axos Bank | 4.46% | $0 |
| Synchrony Bank vs Barclays | 4.10% | $0 |
| Synchrony Bank vs Capital One | 3.50% | $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 | 3.50% | $0 |
| Synchrony Bank vs Fitness Bank | 4.85% | $100 |
| Synchrony Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| Synchrony Bank vs Presidential Bank | 4.50% | $5,000 |
| Synchrony Bank vs SoFi Bank | 3.80% | $0 |
| Synchrony Bank vs UFB Direct | 4.21% | $5000 |
| Synchrony Bank vs Varo Bank | 5.00% | $0 |
| Synchrony Bank vs Wells Fargo | 2.51% | $25 |