Bank of America Advantage Savings
Get a head start on your future
Start saving today
Open now Advantage Savings AccountHow we can help
Our
can help boost your financial health and put your goals into focus.Personalized planning
Bank of America Life Plan® is an easy, flexible way to set and track your short- and long-term goals, get one-on-one advice and adjust when life changes.Footnote[1]
A rewarding relationship
Qualifying Bank of America Preferred Rewards members can enjoy benefits and rewards on everyday banking, from interest rate boosters to waivers on certain services.
Easy ways to save
Have a checking account with us, too? Enroll in Keep the Change® to round up debit card purchases and transfer the difference to savings automatically.Footnote[2]
Cash back deals
Want to put more in savings? Search participating merchants and earn up to 10% cash back on everyday purchases with BankAmerideals®.Footnote[3]
Account details and fees
$8 or $0
For new accounts, we will waive the monthly maintenance fee for six months from account openingFootnote[4]
$0 for each statement cycle that:
You maintain a minimum daily balance of $500 or more in your account
OR
You own a Bank of America Advantage Relationship Banking® accountFootnote[5]
OR
An owner of this account is a member of the Preferred Rewards programFootnote[6]
Effective on or about May 26, 2026, the Preferred Rewards program will become BofA Rewards, and an account owner will need to be enrolled in BofA Rewards and qualify for the Preferred Plus, Preferred Honors, or Premier tiers to waive their monthly maintenance fee. For more information about BofA Rewards program eligibility, review the Preferred Rewards section of the Personal Schedule of Fees and for a summary of new BofA Rewards benefits, refer to: bankofamerica.com/BofARewards
OR
An owner of this account is under the age of 25Footnote[5]
To view all fees and additional information on how to link eligible accounts, see the Personal Schedule of Fees (PDF). You can also refer to our Clarity Statement (PDF) or Deposit Agreement and Disclosures (PDF) for additional information
More savings account options
We also offer CDs and IRAs. Planning for college? Check out 529 College Savings Plans from Merrill.
Here’s what comes with your Advantage Savings account
Just starting out?
There is no monthly maintenance fee on our Advantage Safebalance Banking account if you're under age 25.Footnote[5]
More help managing money
Short-Term Savings Calculator
See how long it takes to save for the things you want and need.
Need more info about savings accounts?
How can I open an account?
You can apply online for a checking account, savings account, CD or IRA. Simply select an account, enter your personal information, verify your information and choose features & funding options. You will receive an email once your application is received and a follow-up email telling you whether it has been approved, plus any next steps.
