Bank of America vs. Upgrade
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
Upgrade
Premier Savings
3.05%APYDec 10, 2025FDIC InsuredLow MinimumsGreat iOS AppGreat Android AppShow Fine Print & Trends Hide Details
Upgrade
Premier 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. Upgrade Savings Calculator
Upgrade earns $1,823.9 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
Upgrade
Premier Savings
Savings Breakdown
- Interest Earned+$1,829.60(9.2%)
- Total Contributions$13,000
- Initial Deposit$5,000
Projected Balance
$19,829.60
The Banksparency Savings Calculator provides estimated savings growth based on user input and our latest data.
Comparison Analysis
Comparing Bank of America vs. Upgrade
Why Bank of America?
No distinct advantages found vs Upgrade.
Why Upgrade?
- ✓Higher potential APY (3.05% vs 0.01%) on all balances
- ✓No checking account or direct deposit required
— Key Feature Differences —
Better Returns at $10,000
UpgradeUpgrade's Premier Savings earns more on smaller deposits (approx. $305 vs $1/yr).
Better Returns at $25,000
UpgradeUpgrade's Premier Savings pulls ahead with larger amounts (approx. $763 vs $3/yr).
Best for Simplicity
UpgradeUpgrade's Premier Savings offers 3.05% APY with no bundling, direct deposit requirement or caps.
Shared Benefits
Over a 1-year period, Upgrade's Premier Savings pays $304 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
Upgrade offers a clear advantage with its Premier Savings account, featuring a competitive APY of 3.05%, compounded daily, and no maintenance fees. In contrast, Bank of America's Advantage Savings account provides a significantly lower APY of just 0.01%, with an $8 monthly fee that can be waived under certain conditions. While Bank of America requires a minimum deposit of $100, Upgrade has a $1,000 minimum balance requirement but no fees, making it more attractive for savers. Additionally, Upgrade's account is online-only, providing a straightforward option without the need for physical branch access.
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 Upgrade.
| Feature | Bank of America | Upgrade |
|---|---|---|
| APY | 0.01% Verified: 12/10/2025 Stable (90d) | 3.05% Verified: 12/10/2025 ↘︎ 0.97%90d Change |
| Product Name | Advantage Savings | Premier Savings |
| Minimum Deposit | $100 | $0 |
| Min. Balance for APY | N/A | $1,000 |
| Monthly Fee | $8 | $0 |
| Branch Access | Yes | None |
| Account Type | Online & Branches | Online Only |
| Direct Deposit Req. | None | None |
| Checking Bundle | No | No |
| Mobile Apps | iOS4.8 Android4.6 | iOS4.9 Android4.5 |
| BBB Rating | A+ | A+ |
| 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. | - |
| Next Steps |
📈 Compare Savings Rates Over Time
Historical Performance
| Metric | Bank of America | Upgrade |
|---|---|---|
| Advantage Savings | Premier Savings | |
Current APY | 0.01% | 3.05% |
Trend | Stable | Stable |
Velocity (bps/mo) | -0.0 | -10.6 |
Days Since Change | 315 | 39 |
10-Month High | 0.01% | 4.14% |
10-Month Low | 0.01% | 3.05% |
Adjustments / Mo | 0.00 | 0.28 |
Volatility Score | 0.000 | 0.105 |
How to read these metrics(Click to expand)
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