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Whether you're new to saving or an experienced saver, you can enjoy a wide-range of benefits with a Bank of America Advantage Savings account

  • Easily transfer money from your checking account to build your balance
  • Enroll in our Keep the Change® savings program and we'll round up the difference when you make everyday purchases with your Bank of America debit card and transfer the difference from your checking account to your savings account
  • Use it for Overdraft Protection in case your checking funds run too low
Rates & Fees

Rates & Fees

Rates & Fees , open

Bank of America Advantage Savings Account

Account balance amountStandard Annual Percentage Yield (APY)
Less than $2,5000.01%
$2,500 and over0.01%

Preferred Rewards clients get extra interest based their relationship tier.

How to qualify layer

Bank of America Advantage Savings Account

Account balance amount
Standard Annual Percentage Yield (APY)
0.01%0.01%

Preferred Rewards clients get extra interest based their relationship tier.

How to qualify layer

How to qualify

To enroll in Preferred Rewards you need an eligible Bank of America® personal checking account and a 3-month average combined balance of $20,000 or more in qualifying Bank of America® banking accounts and/or Merrill Edge® and Merrill Lynch® investment accounts. Learn more about Preferred Rewards

Monthly Fee

  • No monthly maintenance fee for each statement cycle that you:
  • Maintain a minimum daily balance of at least $500
  • or
  • Link your Bank of America Advantage Savings account to your Bank of America Advantage Relationship Banking® account, Bank of America Advantage with Tiered interest Checking account or Bank of America Advantage Regular Checking account (waiver applies to first 4 savings accounts).
  • or
  • When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)
  • or pay $8/month
  • For new Bank of America Advantage Savings accounts, we’ll waive this fee for the first 6 months.

Required Opening Deposit

  • $100

Withdrawal Limit Fee

  • Make a total of 6 transfers and withdrawals each monthly statement cycle with no Withdrawal Limit Fee. A $10 fee applies for each withdrawal or transfer exceeding 6 in a monthly statement cycle.
  • Other limits apply to certain types of withdrawals and transfers.
Monthly FeeRequired Opening DepositWithdrawal Limit Fee
  • No monthly maintenance fee for each statement cycle that you:
  • Maintain a minimum daily balance of at least $500
  • or
  • Link your Bank of America Advantage Savings account to your Bank of America Advantage Relationship Banking® account, Bank of America Advantage with Tiered interest Checking account or Bank of America Advantage Regular Checking account (waiver applies to first 4 savings accounts).
  • or
  • When you are a Bank of America Preferred Rewards client (waiver applies to first 4 checking and savings accounts)
  • or pay $8/month
  • For new Bank of America Advantage Savings accounts, we’ll waive this fee for the first 6 months.
  • $100
  • Make a total of 6 transfers and withdrawals each monthly statement cycle with no Withdrawal Limit Fee. A $10 fee applies for each withdrawal or transfer exceeding 6 in a monthly statement cycle.
  • Other limits apply to certain types of withdrawals and transfers.

View all fees

Download the Personal Schedule of Fees

 

Information for California

What you'll need to apply:

  • Social Security number and date of birth of all account holders (up to one co-applicant)
  • Phone number and email address
  • Physical U.S. address (no post office boxes)
  • Debit card or account information for funding your new account

Apply at a financial center if:

  • You have limited credit history, making identity verification difficult
  • You have had issues with your checking history
  • You are depositing more than $100,000 today