Bank of America vs. TD Bank
TD Bank edges out Bank of America slightly at 2.36% vs 0.01% APY. On a $10,000 balance, the difference is just $4 per year—so other factors may matter more.
The Bottom Line
The Bank of America and TD Bank savings accounts are very similar. Choose Bank of America if you want a no-strings-attached account, or you're an Android user. Choose TD Bank if you value in-person banking.
Important Considerations
TD Bank requires a checking account to unlock its top savings rate, while Bank of America offers its savings account standalone.
| Metric | Bank of AmericaAdvantage Savings Feb 6, 2026 | TD BankTD Signature Savings Feb 6, 2026 |
|---|---|---|
| APY | 0.01% | 0.05% - 2.36% |
Est. Earnings | $5,000+$1 $10,000+$1 $25,000+$3 | $5,000+$3 $10,000+$5 $25,000+$13 |
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. | This is a tiered savings account where rates may vary on location and whether you're eligible for the Bump Rate. 2.36% is available when you link an eligible TD account and have a minimum balance of $250,000. Otherwise 0.05% is the maximum APY. |
| Features | FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedRate Changes Often | FDIC InsuredHigh MinimumGreat iOS AppGreat Android AppIn-Person AccessZelle® SupportedChecking BundleRate Changes Often |
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.15% APY.
Comparison Analysis
Comparing Bank of America vs. TD Bank
Executive Summary
TD Bank offers the TD Signature Savings account with a competitive APY of 2.36%, which is significantly higher than Bank of America's Advantage Savings account, which yields only 0.01%. The TD Signature Savings requires a minimum balance of $250,000 to earn the top rate, while Bank of America has a lower minimum deposit of $100 but charges an $8 monthly maintenance fee unless certain conditions are met. Both banks provide FDIC insurance and compound interest monthly. For those not meeting the balance requirement at TD Bank, the APY drops to 0.05%, making it essential to consider your balance when choosing between these options.
The analysis is based on current Banksparency database records
* This content is provided for informational purposes only; always verify details with the provider.
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 4.1)
Why TD Bank?
- ✓Higher potential APY (2.36% vs 0.01%) on all balances
- ✓Physical branch access (Multiple branches in CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA, DC)
Shared Benefits
Over a 1-year period, TD Bank's TD Signature Savings pays $4 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.
Non-sponsored link to official site
Non-sponsored link to official site
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Bank of America vs. TD Bank Savings Calculator
You earn $4 more with TD 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
TD Bank
TD Signature Savings
Higher APY requires $250,000
Savings Breakdown
- Interest Earned+$5.00(0.0%)
- Total Contributions$0
- Initial Deposit$10,000
Projected Balance
$10,005.00
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
| Feature | Bank of America | TD Bank |
|---|---|---|
| APY | 0.01% Verified: 2/6/2026 Stable (90d) | 2.36% Range: 0.05% - 2.36% Verified: 2/6/2026 ↘︎ 0.39%90d Change |
| Product Name | Advantage Savings | TD Signature Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $250,000 |
| Monthly Fee | $8 | $10. Waived under some circumstances. |
| Compound Frequency | Monthly | Monthly |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Physical Branches | N/A | Multiple branches in CT, DE, FL, ME, MD, MA, NH, NJ, NY, NC, PA, RI, SC, VT, VA, DC |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | ||
| FDIC Insured | YesVerify FDIC | YesVerify FDIC |
| Zelle® Support | Available Limit: $3,500/dayFounding member; highest limits for established users. | Available Limit: $1,000/dayLimits increase for established or Private Client accounts. |
| 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. | This is a tiered savings account where rates may vary on location and whether you're eligible for the Bump Rate. 2.36% is available when you link an eligible TD account and have a minimum balance of $250,000. Otherwise 0.05% is the maximum APY. |
| Next Steps | Visit SiteVerify at Bank of America Non-sponsored link to official site | Visit SiteVerify at TD Bank Non-sponsored link to official site |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | TD Bank |
|---|---|---|
| Advantage Savings | TD Signature Savings | |
Current APY | 0.01% | 2.36% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -8.8 |
Days Since Change | 52 | 21 |
12-Month High | 0.03% | 3.51% |
12-Month Low | 0.01% | 2.36% |
Adjustments / Mo | 0.16 | 0.41 |
Volatility Score | 0.117 | 0.107 |
How to read these metrics(Click to expand)
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Compare Bank of America's APY of 0.01% with other banks
Compare TD Bank's APY of 2.36% with other banks
| Bank Pair | Competitor APY | Min Deposit |
|---|---|---|
| TD Bank vs Ally Bank | 3.30% | $0 |
| TD Bank vs American Express | 3.30% | $0 |
| TD Bank vs Axos Bank | 4.21% | $0 |
| TD Bank vs Barclays | 4.00% | $0 |
| TD Bank vs Capital One | 3.30% | $0 |
| TD Bank vs Chase Bank | 0.01% | $0 |
| TD Bank vs Chime | 3.00% | $0 |
| TD Bank vs CIT Bank | 3.75% | $100 |
| TD Bank vs Citibank | 3.20% | $0 |
| TD Bank vs Discover Bank | 3.30% | $0 |
| TD Bank vs EverBank | 3.90% | $0 |
| TD Bank vs Marcus by Goldman Sachs | 3.65% | $0 |
| TD Bank vs Newtek Bank | 4.20% | $0.01 |
| TD Bank vs Openbank | 4.09% | $500 |
| TD Bank vs Pibank | 4.60% | $0 |
| TD Bank vs SoFi Bank | 4.00% | $0 |
| TD Bank vs Synchrony Bank | 3.50% | $0 |
| TD Bank vs Varo Bank | 5.00% | $0 |
| TD Bank vs Wealthfront | 3.95% | $0 |
| TD Bank vs Wells Fargo | 0.05% | $25 |