Bank of America vs. TD Bank
Compare rates, requirements, and features side-by-side to find the best option for you.
Bank of America
Advantage Savings
0.01%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppIn-Person AccessShow Fine Print & Trends Hide Details
Bank of America
Advantage Savings
TD Bank
TD Signature Savings
Up to2.75%APYDec 10, 2025FDIC InsuredHigh MinimumChecking BundleGreat iOS AppGreat Android AppIn-Person AccessRange: 0.05% – 2.75%Show Fine Print & Trends Hide Details
TD Bank
TD Signature Savings
Market Reality Check
Both of these banks offer rates below the current top tier. The best rates we track are currently above 4.25% APY.
Bank of America vs. TD Bank Savings Calculator
TD Bank earns $22.9 more than Bank of America.
Bank of America
Advantage Savings
Savings Breakdown
- Interest Earned+$5.70(0.0%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,005.70
TD Bank
TD Signature Savings
Higher APY requires $100,000
Savings Breakdown
- Interest Earned+$28.60(0.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$18,028.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Bank of America vs. TD Bank
Why Bank of America?
- ✓No checking account or direct deposit required
- ✓Higher rated Android app (4.6 vs 4.0)
Why TD Bank?
- ✓Higher potential APY (2.75% vs 0.01%) (requires checking bundle)
- ✓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.
Executive Summary
TD Bank offers a significantly higher APY of 2.75% on its TD Signature Savings account, which is available when you link an eligible TD account and maintain a minimum balance of $100,000. In contrast, Bank of America's Advantage Savings account provides a minimal APY of 0.01%, with a monthly maintenance fee of $8 that can be waived under certain conditions. While both banks offer FDIC insurance and do not require direct deposit, the stark difference in APY makes TD Bank the clear winner for savers looking for better returns.
Analysis generated based on current Banksparency database records
* AI-generated content provided for informational purposes only. Accuracy is not guaranteed; always verify details with the provider.
Stop Losing Interest
See who beats both Bank of America and TD Bank.
| Feature | Bank of America | TD Bank |
|---|---|---|
| APY | 0.01% Verified: 12/10/2025 Stable (90d) | 2.75% Range: 0.05% - 2.75% Verified: 12/10/2025 ↘︎ 0.25%90d Change |
| Product Name | Advantage Savings | TD Signature Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $100,000 |
| Monthly Fee | $8 | $10. Waived under some circumstances. |
| Branch Access | Yes | Yes |
| Account Type | Online & Branches | Online & Branches |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | Yes |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.8 Android4.0 |
| 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. 2.75% is available when you link an eligible TD account and have a minimum balance of $100,000. Otherwise 0.05% is the maximum APY. |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | TD Bank |
|---|---|---|
| Advantage Savings | TD Signature Savings | |
Current APY | 0.01% | 2.75% |
Trend | Stable | Stable |
Velocity (bps/mo) | 0.0 | -8.3 |
Days Since Change | 314 | 68 |
10-Month High | 0.01% | 3.70% |
10-Month Low | 0.01% | 2.75% |
Adjustments / Mo | 0.00 | 0.38 |
Volatility Score | 0.000 | 0.085 |
How to read these metrics(Click to expand)
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