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Savings Accounts FAQs

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Please tell us where you bank so we can give you accurate rate and fee information for your location.

What type of savings accounts does Bank of America offer?

Bank of America currently offers 3 different savings account options:

  • Rewards Savings
  • Custodial Savings for Youth
  • Minor Savings

Explore our savings account options for an in-depth description of each of account.

Where can I find the interest rates for a savings account?

You can view all savings interest rates online. Visit our Rewards Savings, Custodial Savings for Youth and Minor Savings Account product pages for the current rates.

How do I apply for a savings account?

Applying for a savings account is easy. Visit our specific product pages for more details:

Rewards Savings

Custodial Savings for Youth

Minor Savings

You can also schedule an appointment with an associate at your local financial center for a day and time that work best for you. We can assist you with finding the best savings account option to meet your needs.

When do I start earning interest on my savings account?

Interest begins to accrue on the day the account is processed, not the day the application is submitted. The application will be processed at the interest rate that was effective on the day that the application was submitted.

What is the difference between a savings account and Keep the Change®?

Keep the Change is a Bank of America savings program that works in conjunction with your savings account. When you enroll in this program and make qualifying purchases with your Bank of America debit card, we’ll (1) round up your purchase to the nearest dollar amount and (2) transfer the difference from your checking account to your savings account.

With a Rewards Savings account the more you save the more you could earn

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